As Work from Home (WFH) has become a reality, there is an increased demand for functional and flexible spaces that can accommodate workspace conveniently located in urban centers for easy access of the employees. It is not the only business that is looking for more resilience through flexible forms of real estate, property developers and landlords are also looking for a sustained model of creating a need-based ecosystems for future of work where hybrid models of working are becoming acceptable.
A few segments such as co-working and flexible spaces are going to be the main demand drivers in the commercial and real estate segment as more workers take up remote or flexible work practices. In order to address the needs of the hybrid work culture, developers and corporates need to work together. Customers and investors are choosing smaller cities for their investments. In Tier II and Tier III cities there is a huge potential for infrastructure development and real estate.
There is a lack of organizational structure, team building activities, collaboration, interaction and motivation which leads to employee burnout, loneliness and mental health issues. New models of hybrid and collaborative working environment that strikes the right balance between working place and time as well as fosters a healthy relationship between employee and employer have been explored.
The IT and ITeS sectors have been the first to experiment with hybrid models and have created a policy framework to support the workforce. Other sectors are starting to adapt to hybrid models as a post-pandemic strategy.
