Exclusive Interview With Sathish Rajendren, Co-Chairs- CoreNet Global India Chapter & COO Knight Frank (India) Pvt Ltd.

Realty Fact Editor in Chief, Kumar Saurabh talks to Sathish Rajendren, Co-Chairs- CoreNet Global India Chapter & COO Knight Frank

Q1) Elaborate on the key topics to be discussed in this year’s CoreNet Global’s Annual India conference to be held on June,19^th in Bangalore ?

The conference will deal with the transformation being brought about by corporate real estate (CRE) in structuring and execution of India’s overall corporate strategy.

To name few key topics that will be discussed are:

• Geopolitical and Trade Tensions –The session will set to examine strategic real estate planning decisions as challenges including unpredictable policy outcomes and a volatile trade environment impact supply chains, regional costs, and long-term budget decisions.

• Intelligent Workplace – The focus of this session is to:

• Identify elements of green building design & smart technology that goes into making workplace intelligent

• Understand the social, cultural & human aspects that make a workplace emotionally intelligent

• Identify the current market readiness & challenges of adopting a smart workplace

• The Changing World of CRE – The key focus of this session is to discuss on how the environment around Corporate Real Estate is changing. This session will focus on how large Multi-National Companies are utilizing occupancy data, technology solutions, operational intelligence and end-user engagement to lead the way in innovative work environments and tactics to create more compelling and smarter workplace experiences; and continue to have a downstream measurable impact on the larger Business/ Organizational Strategy.

• Exploring the Trend of Data Centres in India – The key takeaways from this session would be:

• To Understand data center trends

• How key industries like IT/E-commerce/BFSI are driving the need for setting up more and more data centers to support both domestic and international operations

• How India’s new policy on data privacy will protect users’ critical information from any misuse

• Digital Twin – Impact on Corporate Real Estate (Envisioning corporate real estate in the near future. Looking into digital twin technology and examining its efficacy while understanding how it has altered the scope of corporate real estate.)

• Workplace 360 Degrees – Dynamism of the Gender Diversity and Strategic Management of Workplace (Discussing diversity along wide paradigms in the ambit of corporate real estate and creating and fostering workspace diversity.)

Q2) What are the top trends that Corporate Real Estate is witnessing in India?

Corporate real estate in India is on a growth mode. The uptake of space has been at record levels in 2018 with over 46 million sq. ft. office space absorbed (data as per Knight Frank India). Further we are seeing three broad trends:

• Co-working spaces expanding in India. This category saw a growth of 20% year on year in 2018.

• Growth of Hyderabad market which is almost at the levels comparable 7 million sq. ft.

• There has been a spurt in office uptake from payment gateway companies which has pushed the uptake of space in the BFSI segment

Q3) What is fueling the growth of Corporate Real Estate sector in India?

The Indian commercial office space is witnessing a growth on account of stable growth in the Indian economy, allowing corporates to perform well as in the country as against other similar markets. The domestic markets have remained largely un-perturbed by global events making it a good consumer base to target and grow. Some push in terms of electronic payments etc. have started to also create a

Q4) How is Fourth Industrial Revolution changing Corporate Real Estate?

Greener, more productive, healthier & smart buildings

3D printing of offices and furniture is set to be a future trend

Transformation of Logistics

Virtual Real estate – Marketing & Management

Technology transforms retail and other sectors.

Q5) How will PropTech disrupt the real estate industry? How will it impact Occupiers, Real Estate Companies and Investors?

Technology can transform the RE industry from slow and inefficient to fast and efficient. There is a growing need of 3D aggregators in the market to provide 3D experience of home tours.

Better data management applications will help streamline the entire processes for both commercial and residential purchases.

Technology will not only help to conserve energy but also spaces.

Q6) What is the idea behind futuristic office spaces?

Expected growth in demand for agile workspaces by corporates, startups and new entrants.

Co-working players snapping up prominent older buildings as they become available and this trend will continue to grow.

Q7) How do you think 2019 will fare for the sector?

We expect the sector to be able to repeat its performance on the back of strong office demands and healthy supply addition.

The leasing activity is also expected to be dominated by flexible space operator and IT/ITES.

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