Dr. Niranjan Hiranandani, Founder and MD of Hiranandani Group, discusses India’s current economic situation and its potential influence on the commercial real estate market. He sheds light on the recent rise of the flex space and the growth of office space leasing after 2 years of the pandemic.

Key Takeaways:

  • Despite the current challenges in the world economy, India’s growth is unique, challenging, and has a great future as the Indian economy and Indian investments are robust. The ₹10 trillion infrastructure investment will have a multiplier effect on the entire economy. Therefore the future is going to be even stronger than the present and the past.
  • When GDP grows, commercial grows: When GDP grows there is a need for more commercial space. Multinational & IT companies have brought people back to the offices. Despite of some hurdles and hiccups commercial growth seems certain.
  • Growth in separate cities will have different kind of scale as the economy continues to be strong. There is positive direction wherein new commercial spaces are coming across the board specially in the 9 metro cities.
  • People are moving from B grade workspaces to A grade workspaces: Good locations and A grade spaces are at a premium in all major cities. The price point is an advantage along with higher occupancy. There is a willingness to pay a premium for good spaces.
  • Any item of activity which adds a service component which is useful to the consumer will always grow. While regular spaces will be in demand, Coworking spaces or Managed spaces will continue to show robust growth.

Our Speakers for the session:

Dr. Niranjan Hiranandani

Founder & MD, Hiranandani Group

Amit Ramani

Founder & CEO, Awfis