Good morning, so here we were, going about our daily lives like responsible folk - switching off appliances when not needed, same with the taps, walking where possible - all to help reduce our carbon footprints, and then…💥
Turns out, new research is now looking at the carbon cost of you know, how we do two person push-ups, and all our calculations are in the waste paper basket.
More on that in the section below.
Till then, blurbs on interesting trends should help you along the way.
Mixed Use Space
The cold, infinite vastness of space will soon be broken by piping hot ginger chai on tap.
No kidding, because Blue Origin just unveiled its star-trek-starter-plan to launch Orbital Reef, a private space station in low earth orbit, between 2025 and 2030.
Zooming Out
Orbital Reef describes this upcoming zero gravity rig as a 'mixed use space station' that will be open 24x7 for commerce, research and tourism, within the decade.
Consider Orbital Reef as a kind of USS Enterprise Awfis, as the station’s construction will feature exclusive spaces for living, working and sight seeing, enabling it to be leased out for a whole range of applications.
The Reef would be nearly as spacious as the International Space Station and will be able to house up to 10 people.
Who All Are Behind This?
Well, this isn't a Blue Origin solo gig. The other significant partner is Sierra Space, a subsidiary of the Sierra Nevada Corporation.
While Blue Origin will build and launch the Reef and cater to all its utility systems, the kind folks at Sierra Space will be in change of transporting crew and cargo to and from the station.
Are They Alone?
Nope. The Reef isn’t the only private space station on the drawing board.
Space startup Nanoracks has drawn up and presented elaborate plans to help replace NASA’s orbital laboratory with its Starlab Station in 2027.
Another entity Axiom plans to launch a brand new module that will attach to the ISS in 2024 and eventually separate from it as the aging station is decommissioned.
Rise Of Hybrid Co-Working
Sample this.
Earlier, when a company was scouting for a co-working space, the options were cookie-cutter workstations, with 50-60 sq. ft. of average space per desk.
But since the virus thing happened, the same company is exploring hybrid spaces across regions because today it requires co-working operators in desired locations to customise the workplace as per its needs.
It is no longer about where employees are working, but about how they are working, writes Ramesh Nair of Colliers.
The Backstory
Between 2017-19, co-working expanded strongly and total space grew by 2.3X in 2019, compared to 2017.
Co-working's share of space in the total leasing volume also increased from 6% in 2017 to 20% in 2019, a growth of over 3X.
However, the infamous waves 1 and 2 battered the segment and across top operators, the average occupancy level dwindled down to 65% during 2020 as co-working space occupiers closed unprofitable centres, and postponed or even cancelled many new leases.
Present Day
With the hybrid model of work taking centre stage, corporates are aiming to decentralise teams and promote work from near home.
Co-working spaces are designed to fill this gap and provide convenience to employees while also offering a collaborative workspace.
Going by future demand forecasts by experts, most landlords should have a co-working share in their portfolio in the next few years.
The Way Ahead
Occupier experience and safety are now paramount and will control customer retention in this highly competitive segment.
Plug-and-play digital infrastructure and smart facilities will increase operational efficiency and overall asset value of co-working spaces, and so will facilities related to health and wellness.
Also, while initially the growth of co-working spaces was limited to the top 6 Indian cities, operators have started expanding into tier-II cities now, due to increasing demand.
Half A Cup Extra
- Eco friendly ‘two person push-ups’ - What is it and how does it impact climate change? - An Environmental Report.
- Online searches for renting and buying of residential properties touched an all-time high in September, signalling demand revival.
- London's Heathrow Airport says full travel recovery is at least five years away.
Give Sentiments A Chance
Hang on a sec. Before we start this, let's understand some grades.
When it comes to the consumer sentiment index, a score of;
🙂 Above 50 indicates ‘Optimism’
😐 50 means the sentiment is ‘Same’ or ‘Neutral’
🤨 Below 50 indicates ‘Pessimism’.
With that sorted, you need to know that in Q2, 2021 the real estate sentiment index was at it's lowest value but within a span of 90 days, it turned around to scale new heights.
Are You Serious?
Totally. Per a joint report by Knight Frank, FICCI and NAREDCO, the sentiment in the real estate industry has not only turned optimistic but also did an all-time high number during July-September.
In Q3 2021, the current sentiment index score rose to 63 – the best ever, after a rock-bottom score of 35 in Q2 2021. What's more is that this positive outlook is slated to trend for the next six months at least.
What Enabled This?
First, the 8-digit calculator human memory. a robust vaccination drive and a decline in new COVID-19 cases are powering a significant revival in the commercial and residential real estate markets.
Second, regional markets in the East, West and North are witnessing a positive response from IT and ITeS companies as well as healthcare start-ups, pushing up demand for offices and housing.
Third, low interest rates paired with accompanying sales during the festivities has turned the outlook for the residential sector positive.
Looking Ahead
The future sentiment index score has also risen from 56 points in Q2, 2021 to 72 points in Q3, 2021, which is, hold your breath, the highest ever in the history of the Index.
🎙 "The real estate sector has started showing signs of a sustainable recovery", said Raj Menda, Joint Chairman of the FICCI Real Estate Committee, while discussing the report.
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Last year in October, Jack Ma severely criticised Chinese financial regulators in his speech.
Per Bloomberg, since then, over a period of just 1 year, his ecommerce giant has lost $344 billion in market cap - the biggest drop in company value ever recorded.
More updates tomorrow. 💚
☕ The Crew@Ginger Chai