RANDALL WHITE INTERVIEW/ NANDINI RAGHAVENDRA

TIMES NEWS NETWORK[ SATURDAY, MARCH 20, 2004 11:49:06 PM ]
Property forms an important balance sheet item for many businesses. Despite this, it rarely receives the attention its size deserves. This could be the result of real estate being seen as an inflexible consequence of a business’ existence rather than a strategic and potentially profitable asset.

Managing real estate portfolios are a growing breed of corporate real estate professionals, especially for companies whose primary business is not real estate. As a global learning organisation, CoreNet Global is the corporate real estate industry thought and opinion leader. Its diverse group of members across 25 countries manage $1.2 trillion in real estate and workplace assets. With India in the global spotlight, vice-chairman, CoreNet Global, Asia, Randall White talks to Nandini Raghavendra on the growing significance of the region in terms of corporate real estate, in light of the CoreNet Global Asia Summit ‘04 in Mumbai next week.

Excerpts:

How does Corporate Real Estate differ from the traditional provision of commercial real estate services? How can Corporate Real Estate Service (CRES) make a difference to an individual company?

Corporate Real Estate is different from traditional business because the transition towards the integrated world has already begun and this is more evident in India, than anywhere else. The outsourcing of entire business processes, the location of manufacturing operations in proximity to emerging consumer markets are challenging traditional corporate real estate strategies and delivery models. It also offers innovative strategies which prepares for the dynamic changes associated with acceleration of integrated world.