Growth of gated working communities, post-Covid19
The business parks act as a one-stop solution for businesses through a variety of amenities and ancillary services would act in their favour in the post-Covid19 world. As hygiene and quality maintenance assume galactic proportions in commercial real estate amid growing concerns of heath safety, business parks become a natural choice for occupants because of a variety of factors.
As integrated facility centers, carefully designed to cater to every need of a target group, business parks not only offer occupants an effective working environment away from the hustle and bustle of congested city commercial space, but also offers them an opportunity to enjoy the best-in-class work environment at attractive price range. Business parks make available to the users a high-quality infrastructure and a superior value proposition, especially because of government-supported policies. These gated campus are designed to create a vibrant community to cater for every moment a client wants to be in - special place to sit in open air, tantalizing food options, café or a safe commute to the workplace.
Also, thanks to the select international investors who bring in global best practices in upgrade and development, India currently hosts some of the most efficient and aesthetically supreme workspaces in the form of gated communities. The Equinox Business Park at Mumbai’s Bandra-Kurla Complex (BKC), which is owned by Brookfield Asset Management, the Bhartiya City in Bangalore by Bhartiya Group and the WTC Pune by Panchshil Realty could be cited as the finest examples of the transformation these communities have undergone in terms of quality as well as volume.
It would be imperative to recall in the above context the 10-acre Equinox Business Park that was purchased by Canada’s Brookfield Asset Management Inc for $360 million in 2018 from the original developer Essar group and transformed to make it future ready, with an array of amenities for its users.
In the backdrop of the coronavirus pandemic, employee health and safety would become the core areas of concern for occupiers. Developers will thus, divert their focus on the use of innovative technologies, by delivering gated work campuses with high-end user amenities where communication is seamless and there are no compromises on the occupants’ physical safety.
These short-and long-term, methodologies can assist in establishing occupancy strategies that can adapt to resource consumption accordingly, and support new business models that could create revenue from under-utilized spaces.