Vaishnavi Group, Mr. Darshan Govindaraju, Director: –
“The year so far has been quite well for the real estate sector and it is likely to end on a positive note. While a global recessionary climate, increasing interest rates and some macro-economic factors created some disruptions, in India the outlook has been bullish and this is reflected in a very robust 2023 in terms of demand and sales. The residential sector saw healthy demand and launches, and a lot of these were dominated by the luxury segment. Infact, the luxury segment got a high traction this year in all the top 8 markets. Besides, the office sector witnessed robust leasing from Global MNCs and many new asset classes like Flex, data centers, warehousing expanded their footprints. Overall, the year has been good and this momentum will pick pace in the year to come.”
Assetz property Group, Mr. Sunil Pareek, Executive Director:-
“With the kind of growth that the sector has witnessed since last year, we can confidently say that 2023 will not only conclude on a great note. The year has sown seeds of fresh opportunities and these will flourish in 2024. At the back of this lies India’s resilient economy, proactive policies and the target set by RBI to contain the inflation at 4%. All these things have already impacted the real estate sector positively and boosted the developer, buyer and investor confidence. Whether it is CRE or residential, things will turn-out to be great for Indian real estate.”
Cornerstone Group, Captain K.Srinivas, CEO:-
“The country’s real estate ecosystem has not only reclaimed its glory but has also matured immensely in terms of regulations, transparency and innovation. 2023 has been a crucial year for the sector and looking at the current rate of performance we can anticipate that the momentum will persist. The surging demand for grade A offices, *robust launches* residential units across India and the rise of luxury real estate stand testament to the fact that the sector is in a good space and the sector will see enhanced activity in the coming year.”
Vishal Goel, Founder & CEO, RX Propellent:
According to the latest Economic Survey 2022-23, on a global scale, India ranks third in the production of pharma products by volume and 14th by value. Looking at the movements this year, we can hope that the life sciences and pharmaceutical industry in India is on track to reach the expected value of USD 130 billion by 2030. The continued activity in the sector in the form of merger and acquisitions and attracting investors focussed on Active Pharmaceutical Ingredient (API) and Contract development and manufacturing organization (CDMO) sector are a testament to this. The life sciences industry has also seen a rise in exports, which is likely to increase further owing to the government’s latest National Policy on Research and Development and Innovation in Pharma-MedTech Sector in India and Scheme for promotion of Research and Innovation in Pharma MedTech Sector (PRIP) which will drive India’s pursuit as an innovation hub, leading to self-reliance and establishing the country as a global pharmaceuticals and medical exports hub. This has a positive cumulative effect on the life sciences infrastructure sector as well – we are setting up a mega 52-acre campus, Bengaluru Lifesciences Research (BLR) District, in Attibele, Bengaluru in partnership with Roach Lifescapes while in Mumbai, Navi Mumbai Research (NMR) District, a 16-acre integrated campus for research, light manufacturing and corporate offices, is underway. We foresee continued demand and growth for the life sciences real estate sector in 2024.
Bhavesh Kothari, Founder & CEO, Property First
“This year, almost all the asset classes managed to show promise in terms of growth and I am pretty sure that this momentum will be carried forward in the next year. So far, 2023 has been a stellar year for the residential sector, especially the luxury segment that witnessed healthy demand and sales. This is also true for the mid-segment in terms of launches and appreciation potential. Despite geopolitical issues and the recessionary climate in the western world, investment sentiment has been quite healthy. While institutional investments were moderately well in CRE, NRI investments in residential has been equally good. Apart from these, other asset classes like retail, logistics & warehousing and alternate segments like Flex & data centres are sowing the seeds of greater growth and 2024 will reap the harvests quite well.”
Corporate Comm India (CCI Newswire)
