Real Estate Development
Real Estate development is a key segment of all national economies, and comprises Commercial and Home construction.
My experience covers commercial real estate, specifically studies assessing the viability of projects in malls, hospitality, office and mixed-use developments in India and the Middle East.
I have also assessed marketing practices in real estate (see the blog) and have been involved in the development side of studies for colleges and schools (see Education).
Retail Space Development
Lifestyles and spending patterns have radically changed over the past decade. Driven by an expansive media, the average Indian household now provides new business to retailers. As a result, large Indian and overseas retail chains are busy establishing themselves in most towns, with mini metros and key district towns being the targets after showcase metro locations, due to the cheaper real estate.
As the industry is characterized by low margins and high growth, companies need to respond to the trends in consumer lifestyle and behavior, and in India a focus on the mass market, with an emphasis on providing value for money and generating loyalty for repeat purchasing, generates volumes. Thus developing operational scale and developing the appropriate retail concept are both critical.
A number of formats exist in this sector, not all of which have found favor with the Indian shopper, who balances the convenience and low prices of a neighbourhood ‘kirana’ (unorganised) store with the quality and variety offered by a more organised competitor. Retailers must therefore research shopping behaviour in detail.
For Retail and Other Property projects, I can provide:
- Sizing and valuation of retail catchment areas
- Consumer behavior
- Estimation of traffic potential
- Product/ Tenant/ Facility mix
- Business Modeling
- Financial Projections
Leisure & Tourism Development
Leisure activities are emerging as a key economic driver in India after decades of development efforts. Domestic tourism is expected to be a key growth driver, along with specialty international tourism niches such as heritage tourism, health tourism and eco-tourism. Developers can actively look to tap into this growth avenue by providing quality facilities and services to the increasingly discerning and value-conscious domestic and international traveler.
Along with tourism, leisure activities driven by lifestyle choices and consumerism-driven spending are also emerging as a huge growth area across all geographies. Configuring developments with the right concept mix and facility mix is increasingly vital to ensuring the financial success of any project.
For Leisure & Tourism projects, I provide:
- Review of Tourism and Leisure/Lifestyle trends
- Concept identification and concept testing through User/Visitor research
- Location /Site recommendations
- Market-driven Facility Configuration
- Visitor Volumes estimates
- Assessment of Space/Room Volumes, Mix, ARR
- Financial Projections based on Revenue and Cost Modeling
Sample of engagements done in India and the Middle East (Click to download a credential):
Financial Feasibility Assessment Of A Mall Expansion Click to Download
Market Review & Concept Development For A Mall Redesign Click to Download
Property market review for a large International Property Development Company Click to Download
Profiling the Indian Hospitality Sector For A Major Hotel Chain Click to Download
Hotel Market Review & Feasibility study for Retail Development for International Hotel Chain Click to Download
Market Review & Feasibility study for City Beach Resort Click to Download
Feasibility Study & Market Entry for a Pharmaceutical Retail Chain Click to Download
Market Review and Concept Development for Mixed-Use Development Click to Download
Blog postings
- Real Estate Marketing In Delhi (NCR) – Trends and Strategy >> Go to Article
- Real Estate Development – Assessing Market Potential >> Go to Article
- Mall Development Mechanics (Article published in The Strategist Quarterly October-December 1997)