CapitaLand marks construction commencement of

CapitaLand marks construction commencement of International Tech Park Chennai, Radial Road
in virtual ceremony graced by Tamil Nadu Chief Minister Chennai, 27 July 2020 – CapitaLand, one of Asia’s largest diversified real estate groups, today unveiled International Tech Park Chennai (ITPC), Radial Road in a virtual ceremony graced by Shri Edappadi Palaniswami, Honourable Chief Minister of Tamil Nadu. This marks the construction commencement for the first phase of the 23.3-acre IT park. ITPC, Radial Road has 4.6 million sq ft of development potential for premium Grade A office space.

Mr Vinamra Srivastava, CEO, Business Parks, CapitaLand India, said: “Chennai is one of our key markets for growth. It is the most diversified market for us in India and we have invested in IT parks, industrial townships, warehousing and lodging in the city. With both operational CapitaLand IT parks in Chennai – ITPC at Taramani and CyberVale fully occupied, our ITPC, Radial Road will offer more options for IT and IT-enabled services (ITeS) companies to expand their businesses in the city. We will continue to balance our growth across key markets in India as we look to increase our assets under management in the country. To achieve this, we are investing in developing a strong pipeline of projects and working with potential capital partners to grow our fund management business in India in the next few years.”

Located along Chennai’s IT corridor, ITPC, Radial Road will be developed in phases and it has been pre-certified with a Platinum rating by the Indian Green Building Council. Phase 1 will comprise two buildings offering 2.6 million sq ft of premium Grade A office space for IT and ITeS companies. The first and second blocks will be operational by Q4 2022 and Q2 2024 respectively. When fully developed, it will have amenities such as restaurants, food courts, fitness centre, clinic, childcare centre and event spaces.

The project is accessible by several main roads and is well-connected to Chennai International Airport. It is also located close to residential properties, educational institutions and hospitals. The park is conceptualised to have sustainable and resilient design solutions with focus on safety, health, wellness, and technology integration such as contactless features and app- based solutions among others.

Dr C Velan, City Head, Chennai Operations, CapitaLand India, said: “With over 15 years of experience in Chennai, we are bringing state-of-the-art office space at ITPC, Radial Road, and best-in-class asset management services to our clients. This park is anotherdemonstration of CapitaLand’s commitment to sustainability.

Designed with green features to achieve water and energy efficiencies such as the 75% naturally lit office spaces as well as luscious landscape complementing Chennai’s weather and ecosystem, it will be a draw as tenants are increasingly placing sustainability as a top priority.”

ITPC, Radial Road is CapitaLand India’s third IT park and eighth property in Chennai. The other properties are ITPC at Taramani, which is a joint venture with Tamil Nadu Industrial Development Corporation; CyberVale, an IT Special Economic Zone in Mahindra World City; OneHub Chennai, a 1,250-acre integrated industrial township on Old Mahabalipuram Road (OMR); two logistics and warehouse facilities at Oragadam and Periyapalayam; and two lodging properties, Somerset Greenways Chennai and Citadines OMR Chennai.

JLL, the country’s largest real estate consultancy firm has launched

JLL, the country’s largest real estate consultancy firm has launched a whitepaper ‘Future of workplace: Is it time to reimagine?’ that deep dives into how the office, as we know it today, will transform into a more greener, healthier and sustainable place to re-welcome its employees post COVID-19.

Attached, please find the complete report along with the press release for your reference.

Key highlights:

• 66% of employees in India immediately shifted to working from home after the outbreak of the pandemic
• 30% of Indian working population has said that the lockdown has given them an enhanced opportunity to balance their work and life
• Health and wellness to be the key motivator for employees to re-enter office spaces
• 76% of millennials will consider a company’s social and environmental commitments before deciding to work there
• Workplaces would also witness new techniques and ways of operating, collaboration and engagements

  

41% Employees Miss the Professional Environment of Office: JLL

• 66% of employees in India immediately shifted to working from home after the outbreak of the pandemic
• 30% of Indian working population has said that the lockdown has given them an enhanced opportunity to balance their work and life
• Health and wellness to be the key motivator for employees to re-enter office spaces
• 76% of millennials will consider a company’s social and environmental commitments before deciding to work there
• Workplaces would also witness new techniques and ways of operating, collaboration and engagements

While the likely reality is that working population will eventually return to a collective workplace, but by then, the workplace would have drastically changed beyond previously imagined. As the country unlocks and “working from office” gains back the momentum, many companies are looking forward to making the necessary changes at their offices.

New COVID-19 protocols will require greater physical separation in workplaces via spatial, physical, and temporal means. JLL, the country’s largest real estate consultancy firm has come out with a whitepaper ‘Future of workplace: Is it time to reimagine?’ that deep dives into how the office, as we know it today, will transform into a more greener, healthier and sustainable place to re-welcome its employees post COVID-19.

This report highlights workplace solutions needed to cope with the pandemic as employees begin to migrate back to offices. It discusses five major aspects of the “Future of Work” and how it will change with respect to the changing paradigm of businesses. The key to the transformation is spacing:  Workstations will be spaced further apart, conference rooms will be depopulated, space-dividing partitions erected, and staff issued rotating schedules for some time now.

“While we all know that work from home is an interim solution in the current situation, it has its own drawbacks including challenges like the feeling of isolation and lack of face to face connectivity with our colleagues. It is very difficult to replicate an office environment and the collaboration opportunities in a WFH model. 

Our survey shows that as much as 41% of employees are missing the professional environment of a workplace. Also, workplace design is increasingly gaining importance in the current context and will be influenced by the fact that people shape the spaces they occupy, with focus on human experience, innovation in technology, wellness and sustainability,” said Ramesh Nair, CEO and Country Head, India, JLL.

Workplace design will see a shift over time due to COVID-19 with a mixed response from occupants. While telecommuting will become more mainstream, leading companies across the globe will be seen embracing flexible workplace arrangements and taking preventive measures to ensure social distancing and good hygiene, highlights the report.

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(Re) entry

As India fights COVID-19, business leaders are planning their ‘return to work strategies.’ There will be changes that employees will witness as they reenter their offices. De-densification, reconfiguration, enhanced seating plans and collaboration devices, are some of the measures that will be adopted for re-entry.

“Most space planners, architects and product providers are proactively thinking ahead of time to bring in new concepts and technologies to provide a healthier and more sustainable workplace for the future. Occupiers have embraced the preliminary phase to accelerate the short-term transition and have started partnering with organizations like JLL to plan a safer and informed re-entry at the workplace to ensure social distancing and workplace wellness,” says MV Harish, Managing Director, PDS, India. 

(Re) imagine

A phase of acceptance where employees will be introduced to new norms of work and workplace such as providing flexible designed spaces, density-the deciding factor for office design, 90 degree rotation of desks and workstations to be incorporated, wide agile practices, health and well-being of employees and contact free spaces.

Future of re-imagine

Use of smart materials, flexible arrangement of furniture, hub and club model, employee experience, digital ecosystems, holistic environment will be the focus of the future workplaces.

What is next for workplace?

The future of workplace pivot around the five dimensions which will propel the new workplace designs. The incorporation of these aspects at workplace will corroborate the effect of the pandemic.

1)    Human Experience: The impact an organization casts on its people is beyond its tangible domains, which results in larger engagement, professional empowerment and a sense of fulfilment.

2)    Health and Wellness: Health and wellness will be key motivation for the employees to re-enter the office spaces and organisations.

3)    Sustainability: Companies will continue to focus on greener spaces and sustainable building will continue to be in vogue.

4)    Health and Safety: Periodic sanitisation of workplace, use of anti-microbial coatings, and minimal use of touch prone surfaces will be encouraged.

5)    Digital Drive: Companies will start investing in contactless technologies to reduce disease transmission. Standalone technology will replace by integral solutions that connects building facilities with the occupier’s premise.

The post-COVID world is not simply about measures that focus on employee wellness. It is also about efficiency, speed, and cost-effectiveness. Organisations need to optimise the existing spaces by making meaningful moves.  Ultimately, the time spent optimising space will have the deepest impact.

Click here to view the report: https://www.jll.co.in/en/trends-and-insights/research/future-of-workplace-is-it-time-to-reimagine?utm_source=pr&utm_medium=referral&utm_campaign=ap-in-corp