What are the current issues faced by the APAC real estate sector?
The real estate sector in the APAC countries is sharing some common issues including external market volatilities, slower economic growth, uncertainty around interest rates, and increasing problems about deflationary pressures. Such problems further get intensified when owners continue to increase the price to all-time record highs which condense the interest of potential investors. Consequently, it leads to compression of yields. For instance, in Japan—the overall investment volumes face challenges in terms of its long-term average for transaction volumes with record lows in yields across all major markets deterring investors. Similarly, due to supply-side issues, Australia faces issues in transaction volumes. The tighter yield spread against the cost of borrowing and pricing, which is well above the predecessor price, is forcing buyers to rethink and evaluate potential deals with caution.
According to Deep Vadodaria, a well-versed real estate entrepreneur and the Promoter Director of Nila Spaces Limited,rental growth is expected to remain soft in 2019. Such growth is mainly driven by prime locations where lower quality assets are struggling to get a higher price point. Apart from Singapore and Guangzhou, the APAC region is expected to record slower rental growth compared to the five-year average. While the non-core decentralized areas in Shanghai, Bangalore, and Delhi NCR are considered, they are getting accumulated with new developments with nearly half of new office supply concentration.
How Nila Spaces is fighting with the problems of the real estate sector?
Nila Spaces Limited, a real estate company built on a foundation of developing Affordable Housing projects, strives to eliminate serious problems in the present real estate sector with best-in-class projects coupled with international standards of lifestyle. While adhering to required standards, Nila Spaces has a reputation of providing transparency in every deal. The company aims to cater to the basic housing needs of the nation through execution on a mass scale while creating a valued experience through timely delivery, world-class quality, home loan support, renting support, and BU/OC first with timely conveyance and updates.
“Innovative technologies, benchmark quality, robust engineering, and uncompromising business ethics are some of our biggest strengths. Since its inception, Nila Spaces Limited has functioned with marked distinction in the real estate arena and demonstrated timeless values and transparency in all spheres of business conduct,” says Deep.
Since 29+ years of presence in real estate, the group has completed over 10 million sq. ft. of projects in and around Ahmedabad. Nila Spaces is known for its “Affordable Housing Projects” and has construction experience of more than 12,800 units which included slum redevelopment and rehabilitation.
Which approach does the company follow to gain customer trust?
Nila Spaces has always given major importance to customer experience and brand realty. Its strong and trusted brand presence in the real estate sector enables customers to confidently invest in properties. While developing a clear positioning and a distinct brand promise for every project, the company provides differentiated project offerings to various categories of its customers. The quality project development at Nila Spaces is backed by detailed analysis and market research. Its research team keenly tracks market trends to position the projects according to the location and income segment.
Nila Spaces creates distinctive branding and advertising for its world-class projects with a scientific approach to nomenclature and positioning which are in line with the value proposition of a project. A dedicated and experienced customer service team regularly interacts with customers and assists them through the complete sales and aftersales process. Such one point problem-solution approach to the requirements and grievances of customers is the key feature that satisfies its customers, gives a competitive advantage to Nila Spaces, and consequently helps the company to build a good brand reputation. Deep says, “We believe that our ability to anticipate the requirements of our customers and to provide our customers with essential aftersales services facilitates their satisfaction with our projects.”
How the Director aims to empower Nila Spaces?
At Nila Spaces, Deep has embedded a culture of review, responsibility, and shared accountability to achieve high standards for all, including customers as well as the employees of the company. He believes in transparent governance, best management practices, and long-term value investments. With his in-depth expertise and thorough dynamics of the real estate sector, Deep strives to address the complex issues in the present market. According to his viewpoint, a leader needs to create a strong team to empower his company because Rome was not built in a day; it was the creation of teamwork, continual efforts, and dedication. Deep further says, “Prior to competitors, one should research and act as soon as possible to understand the customers and build for them. Never forget that the customer is the KING—treat him like one.” These words of wisdom are the result of immense knowledge and superior thinking capabilities. The idiosyncratic leadership style, moral values, and a problem-solving attitude enable Deep to form a healthy work culture and instill teamwork qualities among his team members. Today, with his team and futuristic development approach, Deep is aiming towards implementing innovative technologies in the real estate sector.
What are the growth plans of Nila Spaces?
The upcoming days for Nila Spaces are aimed at futuristic technologies such as smart cities, IoT, Augmented Reality, etc. Deep and his team is looking forward to marking the presence of Nila Spaces as a leading Affordable Housing player across different geographies. Commenting on the future of Nila Spaces, Deep shares, “Backed by a performance with a high level of integrity and credibility, we will progress by contributing to the economic prosperity and growth through hassles-free Affordable Housing—not a product, but an experience.”
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