One of the challenges of large-scale urbanization is to provide cost-effective solutions which are environmentally sustainable at the same time. Is significant R & D going into solving challenges like these and are we as a nation capable of getting this balance right in the near future?
Three issues: one cultural acceptability; second developers’ willingness to adopt and three right policy instruments. Most important of these is the policy instrument, if that is right other things will fall in place. I experimented with “Energy tax”, which was linked to embodied energy in building material and found that if energy tax is instituted and is at appropriate levels, it acts as deterrent for using energy intensive building materials and users/developers shift their choice of building materials. So yes, R&D; is important but we need policy instruments such as taxes as well. As mentioned in the RICS 2020 survey, there are only 0.6 million professionals in the field of built environment against a requirement of 4.4 million.
What kind of job profiles do you see evolving alongside the growth of the industry?
The job profile is becoming multi-disciplinary. I may be sticking my neck out but in my view the traditional model of engineers or architects is now outmoded. Property developers now have to negotiate with architects, engineers, financiers, planners, lawyers, valuers, investors, buyers at national and international levels. The profile that I see emerging in the industry is for professionals who can converse with all these different professions. Traditional approach of “built and they will come” does not hold anymore. The market is competitive and to compete one needs a holistic understanding of the sector.
Who is the ideal candidate for your program? How would you, in very simple terms, explain the deliverable of the program you teach at RICS?
An ideal candidate for our program is a graduate in any discipline with open mind and curiosity for built space. So an engineer, architect, commerce graduate, economist, sociologist, with an interest in real estate can join. The program focuses on six core principles – economics, construction technology, property law, urban planning, valuation and investment, sustainability, which are necessary for real estate. We then provide opportunities to specialize either in marketing or in investment and finance through offer of core and elective subjects. All programs are accredited by RICS, which means that degree is global and graduates can work anywhere in the world.
Go to Part 1 of the Interview