The real estate sector is among the most globally recognized sectors, comprising four sub-sectors - retail, housing, commercial, and hospitality. The growth of this sector stays directly proportional to the corporate environment growth, demand for office space, and urban and semi-urban accommodations growth. In India, the real estate sector is one of the most employment generating sectors.
In these extraordinary times, real estate stakeholders have an opportunity to restructure their strategies to ensure sustained recovery from COVID-19 impacts. A shift from traditional approaches to embracing new, transformational methods would be required. The transformational approach will help in tech adoption, the creation of sustained policy, and accelerated investor interest.
Moreover, in the era, where stakeholders are becoming increasingly interdependent and interconnected, companies would need to jointly develop their real estate strategies with them going forward. Also, due to the pandemic, more and more real estate and infrastructure firms have to redesign their approaches to accommodate technological, sanitization, and social distancing requirements. Other than that, real estate professionals have to include wellness and sustainability features during the construction process in the long term. In all, the demand for Real Estate and Construction Courses will remain robust and the sector will emerge more resilient in the future.
It is also expected that this sector will attract more non-resident Indian (NRI) investment. With the approval of the Securities and Exchange Board of India (SEBI) to the Real Estate Investment Trust (REIT) platform, all kinds of investors - short-term and long-term - will be able to invest in the Indian real estate market. It is assumed to create an opportunity of around Rs. 1.25 trillion in the Indian market.
Additionally, under the Pradhan Mantri Awas Yojana (PMAY), the central government plans to build 20 million affordable houses, significantly contributing to residential sector growth.
By 2040, the real estate and infrastructure market is expected to grow to Rs. 65,000 crore from Rs. 12,000 crore in 2019. The Indian real estate sector is assumed to reach a market size of US$ 1 trillion by 2030 and contribute 13% to the country’s GDP by 2025. With all these expectations in mind, retail, hospitality, housing, and commercial real estate are growing at a significant rate, creating many employment opportunities for industry professionals.
To grab the upcoming opportunities in the first place, aspirants can pursue BBA in Real Estate and Urban Infrastructure (REUI) as it helps them to develop requisite leadership and decision-making to excel in the industry. Also, BBA in REUI from a top construction management college, such as RICS SBE will help you to land your dream roles, be it in the domestic or international real estate market.
About RICS SBE:
RICS School of Built Environment (RICS SBE), Amity University is an industry-led academic institution which delivers specialized undergraduate and postgraduate programs to students ambitious to work in the real estate, construction and infrastructure sector. It also aids as a hub for research and development of technical proficiency in a built environment.