About 300 mn sq ft of existing and upcoming commercial office buildings present an opportunity platter for Real Estate Due Diligence: Colliers

• Office inventory of about 180 mn sq ft in numerous levels of building, to be accomplished in subsequent 2-3 years
• Ageing office inventory of about 120 mn sq ft has an opportunity to be upgraded

MUMBAI, India, Oct. 6, 2022 /PRNewswire/ — Real Estate Due Diligence can seize a slice of the 300 mn sq ft pie of existing and upcoming commercial office buildings. The prime 6 cities (Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai, Pune) are seeing a robust pipeline of office buildings within the subsequent 2-3 years, with about 180 mn sq ft of Grade A office inventory in numerous levels of building. At the identical time, these prime cities have Grade A office buildings of about 120 mn sq ft that may be refurbished. Developers and buyers are in search of skilled experience to judge their upcoming initiatives and options for the upgradation of their existing ageing buildings, as per Colliers’ newest report ‘Technical Due Diligence: Risk-proofing Realty’.

The report, intimately, showcases how Due Diligence can assist numerous stakeholders take precautions to safeguard their investments. It ensures {that a} property is developed as per prescribed norms at a time when there may be elevated deal with elements associated to sustainability (ESG) and well being and wellness. The evaluation additional supplies a pathway to scale back uncertainties and maximize the potential profitability of a undertaking.

“Investments in real estate are growing, with increased traction from global investors. In the last five years, foreign capital flows in real estate jumped 3 times to USD24.0 bn, compared to the preceding five-year period. As the country is seeing a spurt in investments, there is an increased demand for state-of-the-art real estate projects which are technically and operationally compliant. The cost of conducting Due Diligence of a property is less than 0.3% of the project cost. As developers and investors venture into new geographies and asset classes, Due Diligence can help them risk-proof their prospective projects. The benefits will outweigh the costs incurred as it can save the stakeholder from substantial loss of money, time, and legal hassles,” says Jatin Shah, Managing Director, Technical Due Diligence, Colliers India.

For under-construction buildings, builders, buyers and even occupiers can avail of Due Diligence companies to get a greater return on investments, well timed danger mitigation and better transparency in the course of the transaction course of.

The prime six cities have about 120 mn sq ft of ageing Grade A inventory, which is greater than 15 years outdated. Due Diligence can assist builders and landlords perceive the scope of upgradation and obtain increased traction from occupiers, particularly within the prime micro-markets of main cities. Due Diligence consultants can present builders and buyers with suggestions to overtake their older properties. Upgrading outdated office buildings will assist in gaining extra traction from occupiers, enhance the worth of the constructing with elevated constructing longevity.

“Post-Covid-19, developers and investors have become more cognizant about the efficiency of the project. It has become pivotal for them to understand the associated risks and upsides of any prospective project. Stakeholders can risk-proof their projects by making a small investment in Due Diligence and maximize their returns on investments,” says Vimal Nadar, Senior Director, Research, Colliers India.

Please obtain the report from right here: https://www.colliers.com/en-in/research/technical-due-diligence-risk-proofing-realty

Media Contact:                 

Sukanya Dasgupta

Senior Director & Head, Marketing & Communications| Colliers India

[email protected] | +91 9811867682

Riddhi Vira

Manager, Public Relations | Colliers India

[email protected]| +91 9619776362

About Colliers

Colliers (NASDAQ: CIGI) (TSX: CIGI) is a number one diversified skilled companies and funding administration firm. With operations in 63 nations, our 17,000 enterprising professionals work collaboratively to supply knowledgeable actual property and funding recommendation to purchasers. For greater than 27 years, our skilled management with important inside possession has delivered compound annual funding returns of 20% for shareholders. With annual revenues of $4.5 billion and $81 billion of belongings below administration, Colliers maximizes the potential of property and actual belongings to speed up the success of our purchasers, our buyers and our individuals.

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