Commercial Real Estate Trends - What to Expect in 2023?

The new year ushers hopes and optimism among commercial estate investors and developers. And why wouldn't it? After all, trend changes, developments, new projects, emerging cities, etc. – there's so much that India's blossoming commercial real estate sector packs for everyone. But the question is, will 2023 delight or disappoint the commercial real estate space? Of course, only time can answer this question. But until then, let's look at some commercial real estate trends expected to surface in 2023.

Incremental Growth in Office Leasing

Property Leasing 

Office leasing might not have seen action in the past two years – of course, for reasons known to most – the pandemic and the Work from Home wave. But things are gradually changing. With the global economy getting back on track and the world recovering from COVID, companies are switching back to offline working and calling employees back.

Sectors like IT and retail have been significant contributors in this regard. The latter, in particular, has been an element of surprise. Many retailers, who are otherwise reluctant to set up brick-and-mortar stores, are gradually coming on the ground and either renting, leasing, or buying physical stores.

On the other hand, eCommerce companies also are increasingly renting or leasing a warehouse in the wake of geographical expansion.

Leading companies like Amazon and Google investing even more heavily in the Indian data center realm, owing to its long-term potential, is another example.

The expected entry of global technology giants like Intel and Apple in the near future is projected to provide momentum to India's commercial real estate.

In addition, India's rapidly escalating position among the world's top silicon chip manufacturers (owing to the current situation between the two superpowers) could also catalyze commercial real estate growth. Following the footsteps of bigger companies, it could also lead to the entry of several companies on Indian soil.

The Rise of Commercial Real Estate Technology

Real Estate Technology 

While speaking of trends, we usually talk about sales figures, occupancy, and new inventory. Of course, real estate is about figures. But that's not the only aspect. While speaking of trends, we cannot discount technology. The rapid adoption of technology within this space makes technology a trend to watch for in 2023.

Technology in real estate covers a broad range of operations. It includes leveraging data and analytics software, AI/ML applications, robotics, and cloud computing. While most deal with data, commercial real estate players can use software and mobile applications to know the real-time construction and maintenance of buildings, expedite sales and enhance customer service with AR/VR applications, use data analytics to provide precise and custom commercial real estate solutions, etc.

Are you looking to give your business a new identity in 2023? Book your commercial space in Kohinoor World Towers (KWT), an upcoming significant commercial hub in PCMC near Pune. KWT offers everything that startups, SMBs, and global enterprises expect from business hubs. Apart from connectivity and accessibility, KWT offers advantages like modern amenities, intelligent multi-sized office spaces, and many more.

Situated on the Old Mumbai Pune Highway, between Pimpri and Chinchwad, KWT's location is another remarkable advantage that makes it a standout.

Call +91 20 6764 1818 to learn more about Kohinoor World Towers.

Related Post - Ways To Get the Most From Your Office Space Investment in Pune



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