Real estate requirements from software firms—the biggest occupiers of commercial office buildings in emerging markets like India— slowed down in 2016 and may further get impacted this year due to global uncertainty and growing technological disruptions, said the top executive of global consultant JLL Inc.
In an interview with Mint, Christian Ulbrich, global chief executive officer (CEO) and president, JLL, said office space needs of technology and outsourcing firms—especially in terms of software development—slowed down last year. While most tech companies have seen a single digit growth, this year onwards, some of them could even see some implications of US President Donald Trump’s policies, he added.
“Adoption of technology will only continue to increase across businesses in 2017, and this will result in a mismatch in the ratio between growth of a business and its real estate requirements. It will not remain the same, thanks to technology emerging as a disruptor across sectors,” Ulbrich said.
Read more: Live Mint