India's one of the largest, residential real estate firm, Lodha Group will be launching 6 new projects, focussed on affordable housing and office developments, this festive season. These new projects will lead to the creation of about 250 design jobs, 8000 construction jobs, 2500 manufacturing jobs and 750 facility management jobs.
Abhishek Lodha, Managing Director of Lodha Group, claims that in today’s time, focus on affordable housing, offices, logistics & industrial space, combined with infrastructure can lead to huge benefits to the economy.
“As a company, we have focussed on growth in affordable housing and commercial rental assets over the last 3 years. This has helped our business to continue performing well even in the midst of the economic slowdown," he adds.
While the country grapples with the challenges of the current economic slowdown and firms across many sectors are laying off employees and trying to cut costs, Lodha Group has chosen to look for opportunities.
Abhishek shares that in 2019, their office renting business is growing by leaps and bounds. They have worked with some of the leading brands, in the country including HDFC Bank, Tata Chemicals, Tata Trent, and GMM Pfaudler.
On one hand the investment in new projects seeks to boost affordable housing in the country, on the other, it also promises to open up job opportunities for many.
Real estate being a job intensive sector holds opportunities to create more jobs as more investment is made in the sector.
Lodha Group looks to spend around Rs. 2500 crores on these projects, and expects that with the GDP multiplier 2.5x of this amount, there will be a total GDP growth of almost Rs. 7000 crores ($1 Bn).
Only time will tell if this focus on affordable housing, offices, logistics and industrial space, combined with infrastructure leads to huge benefits to the economy or not.