Real Estate Update - Retail Hit By Second Wave; Office Tenants Reassessing Requirement: Nirmal Bang

Office buildings in the Otemachi business district. (Photographer: Toru Hanai/Bloomberg).

Real Estate Update - Retail Hit By Second Wave; Office Tenants Reassessing Requirement: Nirmal Bang

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Nirmal Bang Report

We interacted with Mr. Anuj Puri, Chairman and Founder, Anarock.

We have discussed the insights provided by him regarding the real estate sector in detail in this note.

The key takeaways from the discussion are as follows:

1. Net absorption of 23.4 million square feet in the commercial segment in 2020. Expect similar demand trend in 2021

2. A hybrid working model can be the new norm. Expect demand to revive by 2023.

3. Footfalls within malls stood at ~65% to 80% of the pre-Covid-19 level whereas the sales recovery has crossed footfalls, thereby implying that footfalls within malls are genuine shoppers only.

The retail malls had shown clear indications of sales recovery till pre pandemic levels (before the secnd wave of Covid-19 hit again).

Click on the attachment to read the full report:

Nirmal Bang Real Estate-Commercial and Retail Sector Update-07 June 2021 .pdf

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This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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