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Corporate Real Estate (CRE) in India has started to transform. Increased exposure to the C-suite, more integrated collaboration with other functions and a strategic outsourcing mindset indicate that the function is maturing and preparing to play a more significant role in corporate agendas. However, the CRE platform is missing a few key elements, without which the performance of CRE teams may be compromised. Limited availability of trained CRE professionals, a lack of real estate experience from procurement teams in selecting the right strategic partners, limited analytical tools and the underinvestment in workplace transformation projects are some of the constraints that put the CRE function at risk of underperforming. ‘On the Verge of Transformation’ identifies three key trends for CRE in India. To learn more or download the complete report, please visit: http://www.gcre.joneslanglasallesites.com/en/download-center
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On the Verge of Transformation India Corporate Real Estate Trends 2013
global responses countries India responses trends
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Strategic mind set is paving the way for CRE transformation in India
Hard-line reporting to the C-suite strengthens CRE’s strategic alignment
Global CRE heads’ reporting lines
Almost a half of India-based companies have a dedicated CRE department
Within what department does the global head of CRE reside?
CRE collaboration with HR will see significant increase over the next three years
India’s BPO culture makes current attitudes towards outsourcing more favorable
Internal limitations and constraints are holding back faster progress
The shortage of CRE talent and a lack of dedicated educational programs hinder CRE up-skilling
CRE to FTE ratio breakdown in India-based companies
Lack of effective data and analytics is the biggest constraint hindering CRE from delivering business value
Occupancy planning and financial modelling technology tools are required to fill the gap and make data analytics possible
In India, cultural diversity is as important for workplace transformation as investment capital
Indian procurement teams are actively involved in CRE but may lack the knowledge of real estate services to be effective
Upgraded CRE function needed to meet increasing strategic demands
Faced with increasing expectations, most CRE teams do not feel well equipped to meet all demands
Tactical demands from senior leadership are increasing faster in India than globally
In addition, strategic demands are increasing in number and complexity
High degree of senior leaders expect CRE to drive workplace transformation, primarily improving workplace productivity, well ahead of global expectations
India is second only to China in the net expected growth of real estate portfolios over the next three years
Companies based in India expect their portfolios to grow most in Asia
Real estate market transparency is perceived as the greatest challenge when expanding into developing markets
On the Verge of Transformation India Corporate Real Estate Trends 2013
