Davos 2024: RMZ Corp's Manoj Menda Sees India As Most Promising Real Estate Market In 2024
India is the most promising real estate market globally for 2024, according to Manoj Menda, chairman-supervisory board of RMZ Corp.
In 2023, two markets outperformed—the first was the Middle East, where the residential segment outperformed in parts of the region, and the second was the Indian market, which outperformed across asset classes, Menda told NDTV Profit's Niraj Shah on the sidelines of the World Economic Forum 2024 in Davos.
While the West is crying about distress in the commercial market, 2024 will be India's story, according to him. The Indian government is rebuilding trust and it is upon the industry to step up to it and take it forward, he said.
"What used to be in back office processing, as we would call it BPOs, is today's knowledge centers. India is actually going to be leading; it has been continuing to lead in the services economy and this would naturally have a positive impact on commercial real estate."
Menda sees lots of opportunity for foreign institutional investors, be it in the public market or the asset class. He is positive about investing in India, as the economy is doing well and the industry is growing. The government's boost to the growth of the industry is also positive, he said.
Watch the full video here:
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