CORPORATE REAL ESTATE (CRE) SPENDING EXPECTED TO INCREASE:
INCREASING INVESTMENTS IN TECHNOLOGY FOR CRE
Bangalore, India – DECEMBER 1, 2015 – A recent survey of corporate real estate executives and service providers in India has revealed that demand for corporate real estate (CRE) is increasing significantly.
When asked what their view was of demand for CRE (in terms of space, buildings and offices) in India over the next 12 months, more than 73 percent reported that conditions were improving. Nearly 90 percent said that demand would increase further over the next three years.
More than 40 percent projected a growth rate of between 5 and 10 percent, and more than 21 percent predicted a rate of 10 -15 percent. Fifteen percent forecast a growth rate of 15-20 percent.
According to the survey findings, CRE in India is investing more in technology, particularly for energy management, integrated workplace management systems (IWMS), workplace design in office spaces, building controls and monitoring, and modernizing warehouses and logistics.
The importance of CRE within corporations in India is clearly growing, with almost 70 percent of CRE professionals engaging with senior leadership at least once every quarter.
The survey was conducted in October and November 2015 among all CoreNet Global members and prospective members in India.
“Corporate real estate supports corporate strategy, and our most recent survey indicates that corporate demand for space will rise in 2016 and beyond,” said CoreNet Global CEO Angela Cain. “CoreNet Global continues to support the strategic management of corporate real estate assets in India through training and development opportunities.”
“CoreNet Global in India is committed to promoting CRE,” said Sanjay Dutt, Co-Chair of CoreNet Global’s India Chapter.
More than 100 corporate real estate professionals convened in Bangalore on December 1 to discuss the future of corporate real estate and how companies continue to invest in their offices and operations across India.
About CoreNet Global
CoreNet Global is the world’s leading professional association for corporate real estate (CRE) executives with strategic responsibility for the real property used by multinational corporations for their own operations. CoreNet Global’s more than 9,500 members, who include 70% of the top 100 U.S. companies and nearly half of the Global 2000, meet locally, globally and virtually to develop networks, share knowledge, learn and thrive professionally. For more information, please visit www.corenetglobal.org.