Indian Real Estate sector has seen its fair share of problems, from funding to adherence to timelines to permissions.
Mace recently revealed a partnership with ANAROCK, the real estate services firm. This study explores their cooperation and the role of technology in this field.
Mace, the international consulting and construction company, and ANAROCK Group, the leading real estate services business in India, have announced a partnership to bring innovative real estate services to the Indian market immediately as we move into the ‘new normal’ post the COVID-19 pandemic. The two companies have signed a Memorandum of Understanding that will bring about a quantum change in the way Indian real estate is designed, constructed and operated, particularly during and after COVID-19, when technology becomes instrumental.
The two major giants have come together to bring about a change in India’s real estate sector by incorporating the use of digital technologies and security processes in India, which has a huge effect on raising the safety quality not only of all the projects on which Mace works, but also across the industry. This collaboration will give Mace decisive edge by using the services by the ANAROCK, which has successfully completed exclusive sales mandates for over 400 Indian residential projects.
Let us know how this collaboration will create a synergy and help the real estate sector
1. It will combine the global best practices in construction and project management with local expertise to cover the whole delivery cycle for real estate assets starting from Investment and project management to construction delivery.
2. The objective is to leverage on technology such as virtual reality, apps and offsite technology design for manufacture and assembly that can be used to improve safety and expedite construction timelines.
3. To train people for the jobs of the future, the collaboration will focus on innovative project delivery to upskill the workforce using various modern methods of construction and data analytics.
4. The collaboration will cover every stage of project delivery, integrating the full lifecycle of an asset with their combined expertise, by using the local service experience of ANAROCK in the real estate, to strengthen the partnership.
5. The Mace and ANAROCK collaboration will focus on expert consultancy services for construction and project delivery across sectors including mixed-use office and retail developments, residential projects (including student accommodation), and industrial and manufacturing plants.
There is a need to reinvent construction services and how the real estate industry operates in the aftermath of the COVID -19 crisis by adopting social distancing principles. In the near run, the pandemic seems to have influenced consumer sentiment and spending appetite, but it has also given an impetus to carry out experiments in terms of the cost structure to be leaner and much more effective for the construction projects to proceed.
The new modes of activity might truly be transformative, and inject much-needed momentum into the vital real estate and infrastructure sectors of India. But ANAROCK and Mace, who have operational expertise, are likely to weather through these turbulent times with their extensive knowledge and wide consumer pools.
The collaboration is based on a common vision of the post-crisis future of India, which in the post-COVID-19 reconstruction process will require tech-driven, cost-optimized solutions and redevelop the Indian real estate market based on innovation and growth.
Author: Isha Porwal