The Exchanges

Q I agree there is demand. I'm trying to predict The curve, the future curve of the demand. Are we looking forward five years and seeing this demand? Are we looking forward 50 and seeing this demand?

A I mean, I think the volumes of the demographic is so high that it's multi decades, right? It's, I don't think it's like a five year situation. If we were, let's say in a much smaller country where you were talking about, I don't know, a 1,000,002 1,000,005 million people being the population. I think it's a different discussion when we're talking about one point, whatever, seven billion and such as You know, only a small percentage at the upper pyramid, and such a huge volume, like this tidal wave that's moving upwards, and you know, our aspiration will want a better life, are moving to bigger cities. It's not physically possible to even just build, you know, that type of capacity where you would, where supply would outpace the demand. So the time it takes to just put up an apartment or like get the approvals and all that is like, you know, five, seven years when you talk about buying the land, getting all the approvals, then three years to build it, and then finally sell it and you know, all of that. It's, it's such a long period that it would be impossible for the supply to.

AI assessment note: “I think the volumes of the demographic is so high that it's multi decades”

Q that real estate will become about services as a play. What do you guys think about that? Like it'll be, okay, there is KFT. It won't be about the four walls that I live under, but it will be about, do you add a mall which is attached to this? It'll become about the movie theater, which is down. It'll become about the badminton cohort, about Maybe, uh, the facilities.

A I, I mean, I would say that Where we are, as we work, and like what we are seeing has in some way, shape or form already happened in commercial real estate, where commercial real estate is very different from residential. It's basically just plain floors, ok? Residential, you still have, you know, design and people have designed homes and things like that differently, but office is largely commoditized at, at the, that grade A-ish level where Most assets are similar. There might be change of flow plan and things like that. Companies or people today are so focused on the human experience that they're having in the space, um, that we see like operators and service, you know, a service lay, hospitality lay on top of it is becoming like a driving factor. And we're doing it even on the traditional side, you know, within our parks to Have community engagement events, to have F&B spaces, to, you know, we do our own property management also, so that adds that service layer. So I think it's definitely, you know, something where if I'm coming and experiencing that space or I need to live in that location for so long, I want an experience also on top of it. Um, and which is why maybe for the previous question also, you know, like, Talk about an operating company or like a service layer on top of real estate, because I think that's finally where the pyramid is going, right? It is across co…

AI assessment note: “a service lay, hospitality lay on top of it is becoming like a driving factor.”

Q Um, but should I do it if I'm a 20 year old and I can rent 10,000 square feet?

A I think that you need to have a ability for the, to source the funnel also. Like none of it works if you're not able to actually fill it up, fill it up. Right. And, uh, that comes, that has many, many, many, you know, factors that come with it. And to her point, at least what we do is we do shorter term contracts as well as long term contracts. So I like to describe our business basically as like office leasing at hyper speed, which is, Everything's happening faster. Renewals are coming up faster. Growth is happening faster. Deals are also happening faster. Revenue is also kicking in faster. Like it's a, it's a completely far, you know, in, in really in like in hyperspeed. So unless you have that muscle built, which has taken us, you know, while, and we also replicated a lot of what we got from WeWork, I think it's a very tough business, which is why I feel like most landlords also haven't Successfully been able to do it all over the world, because it is, it is a completely different expertise, and it is a big reason why we built it almost separately from embassy was, you know, this ability to have, ah, to take space from other developers to really build it from a DNA and culture perspective also. Fully focused around the, you know, the coworking side of the business.

AI assessment note: “unless you have that muscle built... I think it's a very tough business”

Q And his new company is kind of bringing together home in a different manner, right?

A Yeah, I think it's like adding a service layer or like a brand or trying to add a younger brand maybe to residential real estate in the US and, you know, leveraging technology and, um, doing all the engagement stuff that we spoke about. Adam is, uh, I would say, The greatest salesman in the world, and that's what I was, you know, telling you as well, where he had, uh, uh, it's one of those few people that you meet, I think, like, in the world where you can feel the energy, like, you know, from having a conversation with him, or you can, you know, you can, you can feel that there's, like, some amount of uniqueness in, in, in that individual, and there's You know, I think his, his ability to think huge and actually take that risk was something I had never seen in many, you know, people and got to meet a lot of people of like that caliber, I would say. Um, so very few have like stuck with that nature, but

AI assessment note: “I think it's like adding a service layer or like a brand”