The Hindu Business Line : Real estate developers urged to track HR dynamics

Chennai, Jan. 21As companies start linking real estate to their long-term strategy, it is important for real estate developers to understand aspects like corporate finance management, information technology and strategic human resources management so that they can build property factoring into all these aspects, according to Mr Ramesh Nair, Managing Director, Jones Lang Lasalle Meghraj.

Speaking at a session on ‘Enabling Business Infrastructure,’ organised by the Indo-American Chamber of Commerce (IACC), Mr Nair said real estate developers have to be tuned to workplace dynamics to create buildings for corporates.

“Companies are now measuring their return on real estate investment in terms of the volume of business generated. In such a scenario is it important for builders to gauge factors like efficient space utilisation and how office space can double up as a personal and professional space for individuals,” he said.

Unlike in the past, people today are first thinking of where they will live and then where they would want to work. In such a case businesses would have to move to locations where talent resides. “For real estate developers it is important to understand these human resource dynamics,” he said.

Ms Raghini Peter, Vice President, Business Development, Sri City Pvt Ltd, said infrastructure development in India was happening in the form of ‘ribbon development,’ where one area/belt saw too many industries converging for the limited infrastructure available.

Mr Farokh Balsara, President, IACC, said private companies — in India and the US — need to be encouraged to enter the infrastructure business.

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