Real Estate Developers Quote | Goodwill Developers & Spenta Corporation

Goodwill Developers: 

The unprecedented crisis that has come about due to the COVID-19 outbreak has impacted real estate significantly along with other industries. The sector is currently witnessing lack of labour which has resulted in delay of completion of even well-funded projects and declining sales. The move to staggered opening of stalled projects might prove beneficial for projects which are nearing completion and could help induce cash flow. However, the unavailability of labour and directive of social distancing could pose as a challenge to restart the projects. The developers could concentrate on projects that are near the non-containment areas and ensure all precautionary and sanity measures for the workforce are taken. Apart from this use of technology and machinery to limit human contact along with use of pre-fabricated material or structures could see a rise. - by Hakim Lakdawala, Group Promoter, Goodwill Developers

Spenta Corporation: 

The current COVID-19 pandemic has brought the Indian economy to a grinding halt. Sectors such as real estate seem to be among the worst affected as not only are there concerns on the demand side, once the lockdown is lifted but also construction activity itself (supply side) is likely to take several months if not more to resume. There is likely to be an acute labour shortage as the majority of the migrant labour population has returned to their homes in other states and will need to be incentivised to return to crowded urban areas where the majority of construction takes place. Any resumption of construction activity will have to be staggered and targeted towards those projects that are able to house labour camps and are also closer to completion. This will allow developers, customers and the involved financial institutions to kickstart their businesses and the sectors at large. - By Mr. Farshid Cooper, MD, Spenta Corporation