homevideos Newsreal estate NewsCommercial real estate demand could recover in 2 quarters: KONE India
Commercial real estate demand could recover in 2 quarters: KONE India
Muted demand in commercial real estate has meant the elevator market is yet to reach pre-COVID levels seen in 2019. That is the word coming in from Finnish elevator-maker KONE. However, the company's managing director of India, Amit Gossain is hopeful of a recovery.
Muted demand in commercial real estate has meant the elevator market is yet to reach pre-COVID levels seen in 2019. That is the word coming in from Finnish elevator-maker KONE. However, the company's managing director of India, Amit Gossain is hopeful of a recovery.
Speaking to CNBC-TV18 Gossain said the demand will recover in another two quarters.
“If you don't see a big variant, like the wave two, which I don't think will happen now because we have learned the way to kind of protect ourselves, I think in another two quarters we will get back to pre-COVID numbers.”
He added, “Overall 2021 as a year, the residential impact is now we are back to 2019. The number of residential buildings being launched and being completed. The commercial has not picked up as much, retail has not picked up.”
Watch accompanying video for more.
First Published: Dec 29, 2021 6:13 PM IST
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