After the stressful year employees have had due to the unforeseen conditions under the pandemic, companies are focusing on launching a range of initiatives to promote employee wellbeing in the workplace.

In the last five years or so, the concept of managed offices has gained mass popularity among progressive companies. Managed office spaces have been fast gaining popularity among large corporates, startups and freelancers in the last decade.

In the beginning, there was office space. Then came the cubicles followed by open workspaces – allowing people to plug and play. The world of commercial real estate was at its zenith when the pandemic and the subsequent lockdown changed the game forever. Home became the new office space. Zoom became the new meeting room and the internet – the lifeline.

The year 2021 is already being touted as the year of hope. As work and life adapt to the new normal, the future looks plausible. The commercial real estate industry has gone through a metamorphosis of its own in the last year. New avenues discovered. New horizons explored.

Research suggests flexibility, accessibility, and affordability to be the main catalysts behind it. However, on further analysis, it was observed that the rise in co-working spaces also jostled the managed office space to reinvent itself. This point was further highlighted and underlined by the COVID-19 outbreak, which demanded a completely new outlook.

The face of India’s office sector is evolving at a rapid pace. From urbanisation of Indian cities to the rise of megastructures to the introduction of various new policies and provisions favouring the growth of a strong commercial real estate in the country; these factors provide a strong ground for the sector to continue developing.

Over the past years, the real estate sector has witnessed rapid growth in India. Consistent government initiatives and policies laid the groundwork for transparency and ease of doing business in the past few years. The year 2020 also began on a positive note, but the global pandemic disrupted supply chains and temporarily frayed hopes.

The Union Budget 2021 provided a strong ground for boosting the economic growth after the unprecedented challenges due to Covid-19. The budget is focused on investing in robust infrastructure and productive assets which will be instrumental in realising India’s ambition of becoming a 5 trillion economy.

The way we work has evolved over the past century, and so has the office. Time and again our offices have swiftly been able to adapt – responding to cultural shifts, global crises, and market changes. Technology has assumed more control in our offices and our operations. Seamlessly helped us to do things in a faster and smarter way, each breakthrough redefining how we communicate, share information and expand our workspaces.