Large corporates with massive real estate portfolios were forced to reassess their work models due to the evolving conditions in 2020. There is an ongoing debate on the efficacy of work models that will pave the way for the future of workspaces – Conventional, Remote or Hybrid, as we already begin to see workforce flocking back to offices with the second wave showing signs of waning.
As we navigate our way through the second wave of the pandemic, the CRE landscape continues to shift for all stakeholders in this ecosystem. While Q2 of 2020 witnessed green shoots of recovery for CRE, Corporate occupiers remain uncertain about long-term workspace plans in 2021 and 2022 and are re-evaluating their office space needs. What does this mean for CRE in the near to long-term and how are developers staying resilient in 2021?
Since April last year, companies globally have been able to sustain operations and maintain growth due to adaptable & agile workforce. The workforce has quickly shifted gears as necessitated by the evolving situations and demonstrated flexibility and resiliency throughout the multiple phases of WFH, back to office and hybrid models in the past 1 year. This distributed, fluid workforce has altered the purpose of office from being a place where work gets done to an employee-centric place where teams collaborate to drive transformations.
The world of work is changing dramatically. What was once a simple 9-to-5 routine in a dedicated office has transformed into a dynamic mix of remote and in-office work, owing partly to the COVID-19 pandemic.
India’s democratisation wave is revolutionising industries and customer experience – from e-commerce to transportation and food delivery to quick commerce. However, the emergence of flexible workspaces has been one of the most disruptive forces which have truly empowered the uprising of this new-age ecosystem in the country.
Imagine being given the choice between working in a thoughtfully designed coworking space tailored for your comfort or enduring a migraine-inducing traditional office under harsh fluorescent lights. The decision seems obvious: most individuals would opt for the flexibility and comfort of the former.