Globalization has increasingly involved the internationalization of services sectors as much as of manufacturing, and the various sub-sectors of the real estate industry have been enthusiastic participants in this global surge.
Builders, brokerage firms, consulting and services firms, real estate finance firms and investors have extended their area of operations beyond local markets to a world-wide base.
The increasing opening up of formerly closed economies in the country has thrown open significant opportunities for real estate firms across the globe. Liberalization of business licensing, taxation and property ownership regulations in the real estate markets further facilitates the participation by international consultation and associations in the industry thereby opening up more and more global opportunities
On the demand side, some of the largest consumers of real estate are increasingly becoming global. Multinational firms, with their manufacturing plants, their distributors and suppliers, and now increasingly service sector firms, ranging from financial to legal, have global footprints.
Even residential real estate brokerage firms have followed an increasingly mobile expatriate population into the international arena, building alliances with companies throughout the globe to provide smart homes with amenities ranging from automation to CCTV security cameras, clubhouses, architectural landmarks, townships and mini cities.
Additionally, the emergent middle-classes in Asia and elsewhere with their pent up demand have given a boost to residential and retail real estate activity, providing a new range of opportunities for forward-looking builders and international consultants that are coming together to make building and property development a truly globalized process!
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