POSITIVE DRIVING FORCE OF PROP-TECH & CO-WORKING
The panel discussions during Realty+ Prop-Tech & Co-Working E-Conclave 2021 deliberated and debated on some of the most topical issues of the sector, its strengths and relevance in the coming times.
The next wave of Proptech should get us smart building platforms. At the same time, practical innovations that serve to eliminate small yet substantial real estate pain points would be much in demand.
BIG IDEAS: WHAT WILL SHAPE PROP-TECH IN 2021
The Proptech Summit’s first discussion of the day pondered on the foreseeable trends, the challenges and the opportunity that technology presents for the real estate sector. Experts also felt that the there is a need for a behavioural change among all stakeholders to adopt new technologies and ideas. The discussion presented varied opinions on what will be the way forward.
Panel Moderator – Sandeep Sethi, Managing Director, Corporate Solutions, West Asia – JLL India
Speakers – Nirupa Shankar, Director, Brigade Reap, Rohit Gera, Managing Director – Gera Developments Pvt. Ltd, Srinivas Khandavilli, Director, SMART Building Solution Architecture -Microsoft, Amitabh Satyam, Chairman- Smart Transformations, Govind Rai, Co-Founder, Insomniacs.
PropTech Trends Disrupting the Real Estate Industry
– Big Data
– AI and Machine Learning
– Virtual and Augmented Reality
– Internet of Things
No industry is immune to technological advances. Real estate that had been traditionally slower to adopt new trends too is now seeing PropTech changing the way we buy, sell, and interact with our properties.
TECH AREAS THAT WILL ATTRACT FUNDING
The discussion listed the tech areas that will see investors interest. The speakers also weighed in the end users requirements that will drive the avenues for funding. In keeping with the new demands of the realty, the tech companies too would need to focus on solving the small to big problems of the sector to stay relevant.
Panel Moderator – Harshan V.V, Assistant VP, AGNIi Mission, Invest India
Speakers – Ninad Karpe, Partner, 100X.VC, Vijay Kumar Arisetty, Co-Founder & CEO – MyGate, Gaurav Burman, VP & Country President – India – 75F APAC, Sumeet Sharma, Global Contracts Director, Workplace Services, Capgemini, PrudhviRam Kanakamedala, Managing Partner – KMV Spaces LLP
The global pandemic has accelerated the adoption of property technologies across the traditional real estate segments given the challenges of executing real estate transactions and operating properties remotely. The trend is expected to continue and bolster and will have an impact on how realty sector will function in future.
The Realty+ Co-working E-Summit had the experts discussing how co-working model of working is influencing traditional real estate office strategies.
In the workspace market, technology and service-led solutions are transforming the industry. As a result, businesses of all sizes are making the switch to flex space.
INVESTOR’S PARADISE – WHY CO-WORKING IS HOT PROPERTY AMONG INVESTORS
The Panel discussion titled the panellists were of the view that the investors will be interested in the co-working players that can give quick ROI and tier 2 & 3 cities though present the new areas of growth still lack adequate Grade A office buildings availability. Investors are keen to invest in co-working asset as it is seen to be the new area of demand with most organizations adopting hybrid model of working.
Panel Moderator – Ramita Arora, Managing Director, Bengaluru, Cushman & Wakefield
Speakers – Amit Ramani, Founder and CEO, Awfis Space Solutions Pvt. Ltd; CA Sambhav Mehrotra, Co-Founder, StartUp Movers Pvt. Ltd; Paras Arora, Co-Founder & CEO, Qdesq; Gagan Randev, National Director, Capital Markets & Investment Services, Colliers International India; Yash Shah, Founder & CEO, The Address and Monika Misra, Founder, General Manager, iKeva.
The reasons for rising interest in flexi or shared workspaces in recent times are similar across the board, with the need to minimise Capex, promote growth and maintain an agile approach to business.
THE CO-WORKING CHALLENGE: CONVERGING THE DEMAND & SUPPLY
Location, interior design and amenities are of primary importance for co-working space tenants – start-ups and corporates alike. Operators that are prepared to provide outstanding customer service are finding a receptive audience across cities.
The industry experts emphasized that organizations should understand the science behind the co-working spaces and that hybrid way of working is the new normal. The new areas of demand in terms of services, locations and technologies as well as challenges in quality assets were discussed to find the best possible solutions.
Panel Moderator – Sidharth Dhawan, Director – Agile Real Estate Lead, Asia Pacific CBRE
Speakers – Ar. Parthajeet Sarma, Workplace Strategist, Founder Director, iDream; Kunal Walia, Founder and CEO, Simpliwork; Manas Mehrotra, Founder, 315 Work Avenue; Neetish Sarda, Founder, Smartworks; Rishi Das, Co-Founder & Chairman, IndiQube; Vishwas Mudagal, CEO & Co-Founder, GoodWorks Coworking Spaces.
Co-working Spaces Formats In India
– Single locations that take advantage of their prime location
– Domestic chains spread out across a single city, multiple cities, or even multiple countries
– International brands that are building new locations in major Indian cities.