FROM THE DIRECTOR'S DESK
THE TIME IS JUST RIGHT TO SET UP A DIGITAL STRATEGY IN CONSTRUCTION
Real estate and construction leaders, have noticed that the focus of the real estate industry has shifted to affordable housing. The “reverse migration” has opened up development across tier 2, 3 cities. There is a lot of piled up inventory in the tier 1 cities and also projects stuck at different stages.
COVID-19 situation has noticeably increased NPAs under the banking portfolio and is expected to increase. In the long-run, support from the government is needed to Housing Finance Companies (HFCs) and small scale developers. The majority of affordable housing is in the informal segment, which requires support through last-mile funding, quick approvals, and reformed policies by the government for the developers. Although there is a pent-up demand of affordable homes, it will not manifest unless these actions are taken.
Based on our understanding and analysis of the situation, smart operations can be achieved by adopting new and safe ways of working through construction technology adopted at projects to drive speed, quality, and high productivity.
To respond to the current challenges and overcome the situation engineering and construction companies can implement their choice of potential solutions by leveraging technology and digital applications. This will support their operating model for the next phase of operations.
The mantra of Digital by choice should be adopted. The digital evolution is cost-efficient and more so paperless!
We at GEM are always on lookout for new solutions to fulfil these requirements and avail of opportunities to contribute to the affordable housing sector.