How important are amenities, to drive high-end commercial project leasing?

[] Navi Mumbai is witnessing demand as a hub for high-end commercial spaces. The availability of excellent infrastructure, development of new commercial projects and the airport, five-star hotels and the World Trade Centre have been some of its key growth drivers

Companies across the globe are planning to reinvent their offices, to adapt to life beyond COVID-19 easily. According to the second edition of Knight Frank’s ‘Your Space’ report, a survey of 400 global firms employing 10 million people, occupiers are looking towards offices to boost employee wellbeing, collaboration and talent attraction. 65% of firms plan to grow or stabilise their office portfolio within three years, with 46% planning to improve the workplace amenities available to staff, post-pandemic.

You are reading: How important are amenities, to drive high-end commercial project leasing?

High-end commercial projects in Navi Mumbai are expected to gain attractiveness in the near future, due to better amenities and greater open spaces. Also, companies having offices in Mumbai are now looking for high-end commercial projects in the peripheral locations and this may work in favour of the satellite city, as becoming one of their preferred choices. Let us find out why high-end commercial projects in Navi Mumbai can expect a surge in demand in the near future.

Navi Mumbai may witness a surge in demand for space in high-end commercial projects

“In the last few years, Navi Mumbai is witnessing demand as a hub for high-end commercial spaces. Availability of excellent infrastructure, as well as the development of new commercial projects, the airport, five-star hotels and the World Trade Centre, are some of its key growth drivers. Due to the surge in COVID-19 cases, offices have been closed and people forced to work from home in Navi Mumbai and other cities in Maharashtra. However, once the situation gets back to normal, people’s preferences will change – travelling will be avoided and working at the office will not be the same as it was earlier. Health, hygiene and comfort are expected to become essential and thus, the importance towards basic facilities within the premises will increase, especially in high-end commercial projects. Business-class amenities will be the key factors that will drive the growth of high-end commercial projects’ sale and leasing, in the near future,” says Kailash Bangeja, director of Dream Apex Realties.

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Occupiers are increasingly looking for commercial spaces that can offer a safe environment for their employees to work after the pandemic. People are expected to prefer working in an office which gives them a plethora of amenities. Businesses such as back-offices, service-based companies, start-ups and the IT/ITeS industries usually prefer offices in projects that offer basic business-class amenities.

William Beardmore-Gray, global head of occupier services and commercial agency at Knight Frank, says, “There is a mood of change in the air. Global firms are looking beyond the pandemic and are focused on how their workplaces can enhance corporate culture and re-engage employees, in a new age of agile working. Firms want to give employees the best of both worlds, allowing them to work flexibly but making their offices offer the best possible experience, which means delivering higher quality and more engaging workplaces. Half of all firms are already planning to reconfigure their realty portfolios and remodel their workplaces over the next three years, to ensure they are providing employees, colleagues and potential new talent with the best spaces to work, learn and thrive. Businesses will gravitate towards offices that offer a more dynamic work environment and experience, utilise technology and reduce environmental impact.”

[] Letter of intent to rent a space sample, LOI for commercial leasing

Ongoing high-end commercial projects in Nerul

Dream Apex Realties is coming up with a 24-storeyed high-end commercial project named ‘24 High’ in Nerul, which is strategically located along the Sion-Panvel Highway. The project is spread across 2.05 acres of land and consists of world-class amenities, offering health, recreation and supreme lifestyle experiences. Some of the key project hallmarks are:

  • Lavish 16,000-sq ft floor plate.
  • Grand double-height arrival lobby with 10 high speed elevators.
  • Contemporary façade design with two LED screens.
  • World-class boutique offices.
  • 40,000 sq ft of club avenues and landscaped features – podium level.
  • With Grand OTLA high street retail spaces.
  • Visitors parking with multi-level car parking for owners.

Amenities’ role in high-end commercial projects

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Occupiers’ choices for occupying an office on lease are not the same as it was before the COVID-19 pandemic. Occupiers are now highly concerned about their employees’ mental wellbeing, comfort and preferences. Many employees have been continuously working from home over the last one year. They now need offices where they can access amenities like a gym, pantry, fast-food café, fine-dining restaurant, indoor game arcade, etc.

“The kind of amenities and spaces that excite and are in demand by the young working millennials, include food courts, crèches, eateries, banks, ATMs, facilities for sports activities, hotels and serviced offices or co-working spaces. The kind of companies we witness taking up spaces are BPOs, KPOs, data-centres, labs, R&D centers and back-office processes,” says Sangram Tanwar, managing director, office services (Mumbai) at Colliers.

Here is a list of important amenities that high-end commercial projects usually offer:

  • Frequent building cleaning regime.
  • Zero or less touch points – contactless access to the building.
  • Regular maintenance of HVAC systems.
  • Temperature scanning of people accessing the building.
  • Contactless common areas.
  • Gymnasium, organic salad bar, fine-dining restaurant, indoor game arcade, etc.
  • Business café and meeting spaces.

High-end amenities usually indicate the availability of good facilities and best-in-class comfort, in a project. It is crucial to mention here that if a high-end commercial project is located in an area with easy access to the airport, five-star hotels, banks, etc., the benefits for the occupants multiplies manifold. So, in the near future, amenities will play a crucial role in driving demand for high-end commercial project leasing.

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Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

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