2021 was an eventful year with global repercussions, including the ongoing pandemic, extreme weather events, and supply chain disruptions arising from a ship that got wedged across the Suez Canal. One is reminded of how things that are happening in another part of the world can affect us at home.
This is no different for the globalised real estate world we live in.
Despite the market uncertainties, investor sentiment rebounded in the second half of last year. Competition for assets remains stiff, with investors moving to deploy a glut of capital that has grown over time. It comes as no surprise that real estate investment volume in the Asia Pacific region rose 30 percent in the first three quarters of last year, with US$68 billion in pipeline of upcoming deals, more than double what it was two years ago.
More so than ever, digital transformation has become a business imperative. While real estate remains a brick-and-mortar business, technology has profoundly changed the way we live, work and play in the post-pandemic world, and correspondingly, capital flows into and out of different asset classes. As the post-COVID real estate landscape takes shape, we must adapt accordingly.
The world also began to take climate change more seriously in 2021. Given that the real estate sector is the largest contributor to global warming, as leaders of change in our industry, we play a critical role in driving change on the environmental, social and governance (ESG) front.
With travel across borders picking up, we are hopeful that Business will return to some level of normalcy for more in-person interactions this year, something we have all greatly missed. We look forward to working with all of our Patrons and fellow Developers and Realtors this year to ride the recovery and further promote the growth of the real assets industry in DelhiNCR.
Here’s wishing everyone a happy and prosperous 2022!
Tarun Bhatia
DelhiNCR. RealEstate (By Shaloo Agencies)