In the recently concluded conference on Indian real estate, RICS has unveiled a new report highlighting six action areas.
RICS unveiled a new report at RICS conference on Indian real estate sector held recently in Bangalore. The new report from industry body entitled ?Our Changing World: Let?s be ready? cautions professionals in the sector to take concerted action to prepare for the unprecedented global change the sector will face up to 2030. The report, unveiled amidst 300 top real estate professionals in Bangalore, examines how global social and economic changes will require new skills, business models and responses to developing technologies over the next 15 years.
The report draws on views and perspectives of over 400 stakeholders from Asia, North America, South America, Europe and Africa across the surveying profession and captures their insights and expectations for 2030.
Dr Louise Brooke-Smith, Global President Global, RICS, while releasing the report, said, ?India is on a cusp of change with several initiatives announced by the Indian government. Indian real estate sector has been growing at a rapid pace and smart cities, technology and right talent can really help India to tide over its housing shortage. The Futures Research urges key stakeholders to focus their energies on preparing for important challenges as they move towards developing the sector at par with other developed nations.?
Significant shifts in demographics, levels of urbanisation and economic power will impact on how and where we live. While the full impact of these changes is impossible to predict, RICS as a global professional body must lead the sector in being responsive and agile in how it prepares the profession to meet these changes.
?Real estate and construction sector in India is continuously evolving at a rapid pace, right skilled talent will play a key role in achieving our objectives from this sector in the long term. This report calls for a collaborative effort by individuals, governments and companies to come together and achieve our country specific goals especially in providing housing for all,? Devina Ghildial, Managing Director for South Asia region, said.
This report draws on the views and perspectives of stakeholders from diverse specialisms and geographies across the surveying profession, globally. It captures the insights and expectations of what they project the most pertinent issues on the horizon will be leading to 2030. Through workshops, public forums and one-on-one interviews, more than 400 people from Asia, North America, South America, Europe and Africa shared their outlook of what the future may look like. This report aims to identify the implications of rapid change for the built environment sector and aims to stimulate debate among practitioners in this sector and beyond. While this research report has been undertaken by RICS, Chief Executive Officer, Sean Tompkins says the insights gathered apply to other sectors as well.
RICS headquartered in London promotes and enforces the highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure.
SIX ACTION AREAS
- RICS calls for action in six areas of action geared to the short to medium term that will support the profession and the sector in preparing for the challenges and opportunities ahead. These include:
- Action Area 1: Help the sector win and retain a diverse and inclusive talent pool.
- Action Area 2: Have ethics and formulate best practices for businesses to meet global sustainability targets.
- Action Area 3: Create successful and sustainable cities to ensure affordable housing for future generations.
- Action Area 4: Embrace technology and big data, identify important trends, understand the need for different skills and competencies and bring new risks with it.
- Action Area 5: Help the surveying profession take new opportunities, adapt and hone their skills to respond to market changes and the wider society.
- Action Area 6: Develop strong leadership and work closer with governments to give the built environment a greater voice in influencing policy.