Commercial Real Estate has observed great evolution in recent years. New-age technologies such as AI, machine learning, blockchain, and others have played an important role in the real estate transition and will continue to do so. Technology is driving the transformation, causing significant changes in how businesses function and operate.
The real estate industry has grown to be the world's fastest-growing and most well-known. Innovative design, mixed-use development, hybrid spaces, and managed spaces are some of the new developers that are implementing to transform the sector. But there’s more to what commercial real estate has to offer. Here’s how commercial realty has seen a major metamorphosis in the current times.
Understanding Commercial Realty:
Commercial realty is interpreted as the space used solely for commercial or office purposes, and to offer the advantages of a hybrid workplace for a modern workplace. The industry is split into several sectors, such as office and retail spaces. After a sufficient length of remote work in the past two years, offline working has gone back to becoming a daily routine, and companies' space requirements have reached a new peak. Mixed-use towers offer a plethora of workplace options like retail, co-working, entertainment, and more. Real Estate is an industry that is constantly transforming and hence requires continuous change to elevate the service level standards.
Technology is helping the commercial industry to catapult:
One of the key trends that are acting like a catalyst to the transition in a broad range of ways is technology. Technology is expanding at a rapid pace and innovating the legacy as a result of the introduction of digitalization. Acceptance of technology has resulted in personalized service for users and their customers with a multifaceted impact on the firm. Furthermore, artificial intelligence (AI) is poised to become a critical tool in commercial real estate, allowing businesses to assess property worth, type, area, location, and other factors. With offline working going back to pre-pandemic levels, technology is set to help commercial spaces improve with the implementation of safer and smarter contact and connectivity.
Embracing the change:
The pandemic has paved the way for a new era in commercial real estate investments which will be implemented in the future. Causing a certain shift in the market, the pandemic has led to significant transformations concerning the commercial industry where companies are adopting new technologies and other modes ushering toward a big shift in the metamorphosis of commercial real estate in the coming years.
While experts in commercial real estate are doing everything in their power to change the face of the market, developers are adapting to changes and launching one-of-a-kind projects in this space. Atul projects are launching Second Avenue - commercial office space in Andheri East, modern office space in Andheri East for iconic businesses with spacious office spaces for lease in Andheri East. This commercial office space in Andheri East is home to facilities like an Air-conditioned Entrance Lobby, AI Controlled High-Speed Elevator, 24 x 7 Power Backup for a common area with all-day Wifi, EV Charging Station, Valet Parking, Landscape Garden, Advanced Fire Fighting System, ATM, Bank, Restaurants.
Followed by 3 Level Basement Parking and every modern day convenience with location Andheri East being the highlight of the project. Atul Projects has excelled continuously in offering the best to its customers with premium residential and commercial projects in Mumbai.