Technology Reshaping the Real Estate Paradigm
FICCI organized a conference on 'Technology Reshaping the Real Estate Paradigm' on February 17, 2017 in Mumbai jointly with JLL, the knowledge partner. The purpose of the conference was to discuss how technology can play a vital role in terms of overall transformation of the real estate with a focus on understanding viewpoints of other global markets where these new technologies are practiced.
This conference brought to light some interesting facts about how technology has been the driver of change from the moment the first computer hummed in an office, and is today reshaping the real estate industry and that too at a fast pace. Real estate, which is typically fixed and immovable, is traditionally slow to respond to change – but technology is not. Flexibility and adaptability are crucial more than ever. Thus, there was a need to enhance commercial real estate technology to do things quickly and real estate industry needs to understand the era of technological changes that are transforming the commercial real estate realm.
Technology is advancing at a fast-pace bringing drastic social, cultural and organisational change. This advance is now fundamentally altering how and where we work. Increasing access to and use of a variety of networked devices, converging with the improved speed and reliability of Internet connections is enabling new ways of working and changing how we behave at work. As technology increasingly defines how all businesses operate and are structured, it is influencing how real estate is designed and managed, and how workers use their workspace.
A panel discussion titled 'Technology catalysing the Commercial Real Estate Transformation' in the Indian scenario was moderated by Sandeep Sethi, MD, Integrated Facilities Management, JLL West Asia. The panellists Shao May Peh, Head of Corporate Real Estate at UBS India; Amit Gupta, SVP, Head of Realty Services, CITI South Asia; Harit Soni, Founder/Director, Ecolibrium Energy; Ashish Shah, COO, Radius Developers and Narayan Ranjan, Chief of Staff, Viacom18 Media Pvt. Ltd., shared their perspectives on innovative ways to use technology to shape and manage real estate which helped commercial real estate executives align much better with their organisational ambitions.
L to R: Ramesh Nair, CEO and Country Head, JLL India; Sachin Sharma, Senior Assistant Director; Narayan Ranjan, Chief of Staff, Viacom18 Media Pvt. Ltd.; Amit Gupta, SVP, Head of Realty Services, CITI South Asia; Shao May Peh, Head of Corporate Real Estate at UBS India; David Brown, Head of Business Intelligence, Asia Pacific, JLL; Chintan Soni, CEO and Managing Director, Ecolibrium Energy; Manish Rathod, Partner, Dholera Sir Investments; Shaily Agarwal, Assistant Director, FICCI and Sandeep Sethi, MD, Integrated Facilities Management, JLL West Asia.