Awfis Leadership Series - Future of Shared Real Estate Economy: U, V or L Shaped Recovery?

Business Innovations

20 August 2020

Awfis Leadership Series - Future of Shared Real Estate Economy: U, V or L Shaped Recovery?

  • Posted by Awfis Editorial

Awfis Leadership Series – Future of Shared Real Estate Economy: U, V or L Shaped Recovery?

Awfis Leadership Series provides a platform to industry experts, thought leaders, and visionaries to discuss and dissect changes in the industry as well as understand shifting consumer demands that will shape how businesses evolve. They also formulate the best practices to keep up with emerging trends, helping businesses succeed.

The 6 August 2020 webinar comes at a crucial juncture when businesses are still reeling under the global pandemic and are looking for innovative measures to revive growth. Moderated by Mr. Amit Ramani – CEO and Founder of Awfis, the webinar’s esteemed panel includes eminent leaders shaping India’s real estate sector.

Mr. Anuj Puri – Chairman of Anarock

Mr. Rajesh Jaggi – V.C., Everstone Capital Advisors Pvt. Ltd.

Mr. Abhay Pandey – General Partner at A91 Partners

Dr. Nikhil Sikri – cofounder and CEO of Zolo

The panellists discuss the impact of COVID-19 on India’s shared real estate economy, the investment landscape in this sector, and devise a roadmap for the way ahead.

As Mr. Anuj Puri puts it, “This time it is going to be about empathy. Businesses able to show empathy to their vendors, clients, staff, and various stakeholders are going to see long-term sustainability.”

About the investment landscape, Mr. Abhay Pandey is hopeful. He says, “The 2010-2020 period was about China, and most people believe that the next 10 years belong to India. We will see a lot of capital come in.”

However, Mr. Rajesh Jaggi emphasizes the active role the government needs to play in improving the investment outlook. According to him, “From the government perspective, the policies are not consistent. Certainty is what we request the government to give. Across sectors, the government has to speed up reforms to attract much larger FDI. The FDI players do not know how to buy land, how to get permissions. There isn’t a level playing field. These are the things in real estate that the government should be focusing on, and I’m sure by the second quarter of 2021 we will see flows coming into our sector.”

Here is an overview of the key takeaways from this insightful conversation.

What will pave the way for the recovery of India’s shared real estate economy?

A joint effort between the government and entrepreneurs:
To reboot the economy, the government needs to provide the stimulus of resuming business normalcy. The shared real estate players also need to add health-related safety features and the flexibility that consumers are demanding in the pandemic.

Different recovery time frames:
Shared real estate has many components, and the time required for recovery will vary across such segments.

Shared office spaces:
The tenants include both large enterprises and small businesses. The small companies are eager to restart work. But the big companies are cautious about the risks they are willing to take. Thus, the recovery phase will vary across the tenant profiles and centres.

Co-living spaces:
Shared spaces where working professionals live, away from their hometowns, have better stability during the pandemic. Tenants who had gone back to their hometowns are returning. According to Mr. Pandey, one can expect a sharp 80-90% improvement in the coming months in a shared real estate economy.
The rest 10-20% recovery will take more time, probably until the second quarter of 2021.

Warehousing industry:
This sector has maintained its business operation even during the lockdown as the government declared it an essential service. In July, there has been 100% operation.
However, due to the monsoons, constructions are pending. Growth in this sector is expected to strike the rising curve by March 2021.

The good news:
All state governments are actively reaching out to manufacturing hubs across Asia to set up industries in their states. Tamil Nadu, for example, has formed an independent body to reach out to international companies. This approach is sure to boost the economy.

What are the key opportunities and challenges for the recovery of the shared real estate sector?

The changing mindset of customers:
Customer sentiments are changing with an increased focus on safety and well-being. Health safety norms must be implemented across properties to reassure consumers.

Health safety protocols:
Organized providers like Zolo have started implementing disinfection protocols to ensure safety measures, gaining occupancy.
However, unorganized providers may find it challenging to deploy such preventive protocols.

Tailor-made solutions:
People are becoming unenthusiastic about sharing private space. Providing personalized solutions is turning into a necessity.

The road ahead – Building sustainable business models

Empathy, the new critical metric:
While the role of technology and the flexibility of collaborative spaces are going to play crucial roles, empathy is definitely the most vital aspect in ensuring long-term business sustainability.

Evolution – the need of the hour:
From low-cost space providers, the shared real estate players need to evolve into solution providers. Understanding customer pain-points and providing solutions at affordable prices are the needs of the hour.

Digitization and innovation:
Shared real estate providers need to enable tenants to achieve proficiency by making sophisticated technology available at a low cost. For instance, improved teleconferencing facilities, inexpensive AWS services, etc. can be the selling propositions for shared offices.

Reducing debts:
COVID-19 revealed that cash is king. Businesses need to target cash positivity and reduced liabilities to achieve sustainability.

Investment outlook for India’s shared economy in 2021

Availability of capital:
There is surplus liquidity throughout the word. AndIndia is a large market base, a probable source of sustainable returns over time. This factor attracts investors, and market experts predict that India will draw significant advancements in the next 6-12 months, as pandemic-related uncertainties start to subside.

Importance of consistency:
Established businesses with a demonstrated track record of financial performance and operational consistency appeal to investors.

Need for reducing inconsistency:
The government has a significant role to play in boosting the fledgeling economy. Reforms are long overdue. The process of availing permissions is ambiguous. Such inconsistent government policies are a massive deterrent for large-scale FDI players. There is an acute need to modify these policies and provide investment-related clarity to attract foreign investors.

Conclusion

Most of the panel experts foresee an L-shaped recovery curve for India’s shared real estate economy. A sustainable business model that provides the right solutions for the consumers and reflects long-term efficiency in performance can look forward to an inflow of capital in 2021.

Watch the entire webinar here for in-depth analysis and further insights.

5 Apps to Increase Productivity at Work

Business Innovations

25 August 2021

5 Apps to Increase Productivity at Work

  • Posted by awfis

Life has become much easier with the advent of technology. With access to latest technology, work has become less strenuous. The biggest contribution to technology has been the invention of smartphones. They have not only made communication easy, but also play core to organize our lives. The hundreds of ‘add on apps’ have made life stress-free and have definitely helped increase productivity, in every possible way.

App

Here are some applications that we feel will help you outperform at work.

  1. WandurList:

As the name suggests WandurList is an app that helps you in maintaining a number of lists. It is a clean application which enables you to make multiple lists under various folders. It is available for Android, iOS and web users, but what makes it stand out is that WandurList enables you to access the lists from anywhere and from any device. The lists that you make are saved in the cloud, thus letting you share the lists with the other users. So the next time you are out of your office and need to assign work or access previous work, WandurList will be your go to app.
wunderlist.com

  1. Shoeboxed:

Tired of keeping track of your expense receipts before submitting for tax reduction every month? We have a perfect solution for you. Use shoebox and say goodbye to the strenuous process of filling out forms. Shoeboxed is perfect for people who are up and about in the name of the business. Shoebox can access either via android, iOS mobiles or also via the web. Scan the bills and Shoebox sorts out and collates the receipts for you and also generates an expense report.  By the end of the month all you will have to do is send it out to your accounts team.
shoeboxed.com

  1. Speek:

Conference calling is an important aspect of how work happens in the business world. With growing business environment one needs to connect to people from various parts of the world and that’s where Speek steps in. It is an application that enables you to have a con-call by eliminating the process of dialling the numbers and the pin codes. Speek gives you a personal link which has to be shared with the people you want to have the conference call with and all they have to do is click the link to join in via their laptop, smartphone or the computer. So want to make a conference call? It’s just a link away now!
speek.com

  1. Keeper:

Have a lot of passwords of various platforms to keep track of? Tired of sending email to the IT to retrieve your passwords? This application takes that burden of remembering passwords off your shoulders. You have one master password that has all the passwords stored in it. If any hack is attempted all the passwords are automatically erased to maintain secrecy. This application can be accessed via a phone, laptop or a computer with the android, IOS software or by using the web.
keepersecurity.com

  1. Prezi:

Need to make flawless presentations that capture your client’s attention? We have a unique cloud based presentation application – Prezi. This app lets you put down all the information on one canvas and mark it out instead of making separate slides. It uses Adobe Flash Technology to animate the presentation. The application is easy to use and is also compatible for Windows, chrome, iOS and the Web.
prezi.com

Try the apps out and see the increased productivity that these applications bring about in your work life!

Join our business centre in Bengaluru, or our co-working space in Delhi.

Freelancers Work Better in Office Spaces than Coffee Shops

Business Innovations

25 August 2021

Freelancers Work Better in Office Spaces than Coffee Shops

  • Posted by awfis

You would have seen freelancers and solopreneurs working intensely at coffee shops, buying a cup of coffee accompanied with something to bite on now and then, more to keep the table occupied rather than ordering by choice! But working out of a coffee shop comes with a set of challenges. Being in such a relaxed, casual ambience for work, you are not really motivated enough and you can only rely on self-motivation to keep you going.

Thankfully, this is something that can be resolved by working at collaborative office spaces. Leased workspaces and desks that you can find on a reliable collaborative working website like https://www.awfis.com/inspiration/wp-content/uploads/2016/06/shutterstock_3835072871.jpg.com will also give you access to all amenities that you need when you work in an office, like free Wi-Fi and unlimited tea and coffee to keep you fueled up.

Freelancers in office spaces

Freelancers are looking for offices spaces with a positive atmosphere to conduct their work. More often than not, freelancers have a lonely job. They are at their laptops doing their work. However, at home, they have several distractions to keep them away from their desk. Coffee shops do not make the best talking environments for productive business meetings as a plethora of distractions come your way. No such worries exist in a collaborative working space where you are paying rent to be at your desk for work.

Let’s talk about the motivation factor now. Because you are in a roomful of people working on their desks, you are motivated to be a part of that workforce. You can make some great professional friends. As a freelancer, you cannot deny that working alongside others is a much better feeling that being a lone wolf, especially on days when things are a bit rusty. The general working ambience keeps you afloat, something that you find in plenty of plug & play rented office spaces.

If you have not considered working in a collaborative working environment, now is a good time to do that. All your criteria will be met and your business will commence in a cheerful and inspiring environment. After all, your venture deserves only the best.

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For Young Entrepreneurs in India, Awfis is the New Office

Business Innovations

25 August 2021

For Young Entrepreneurs in India, Awfis is the New Office

  • Posted by awfis

As they say, all you need to succeed is a big idea!
However, in the fiercely competitive world, you have to be careful about how you use that big idea. When you start off, you have multiple challenges on your side, including the really daunting one of arranging for start-up capital. You will be surprised to know the number of Unicorns which started off on a shoestring budget.

Things have changed since. You no longer need to set up a big office space and buy all the furniture necessary to set off your own company. Welcome to a new way of working out of an office: Awfis! At Awfis, you will get exactly what you need for your start-up or your work as an entrepreneur: a highly productive space to conduct your business.

Awfis is your new Office

Collaborative working has been around for a while now, but it is only now that it is starting to catch up here in India. At the forefront of this change is Awfis. We have Pro-Working centres where you can work in your own leased offices, along with your own team of professionals. For those who are playing it out as a lone wolf now, this is a better opportunity to make your mark!

There are many reasons why Awfis is the new office today. For example, the meeting rooms which we have in the leading cities of the country are all located in premium destinations. The centrality of the location makes it easier for you to commute and network with people for meetings and discussions. Clients and customers will not shy away from visiting your office premises because it is far away. Your business is in a better position, location wise.

Additionally, you are working alongside professionals who can turn out to be excellent future business contacts for you. Who knows, you may get the next big project from the person seated right next to you in the collaborative working ambiance! Also you may not have to hunt around for a professional in a desired field because the person may be working in the next cabin. Collaborative pro-working spaces are an excellent choice for business networking.

Awfis ensures that you get the best technological and infrastructural support when you work in our Co-Working centres. You will appreciate the environment and that will certainly inspire you to work even harder, the wind beneath the sails that you need when you are starting off.