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India: Burning Hot!
Manisha Bhartia, Head of BDP India and Urbanism Director
With a scorching maximum temperature of over 50°C and a minimum of 28°C, Delhi and most of India is burning hot. But it's not just the weather that's heating up—passionate rhetoric and political grandstanding is on the rise as we wrap up the last phase of polling in one of the world’s largest democracies.
Loved and hated, in equal measure, India’s prime minister, Narendra Modi and his party are expected to return into power. The results of our national election, expected on June 4th, are anticipated to bring continued political stability.
This stability is crucial as India races towards significant economic growth, currently being the world's fifth-largest economy and growing rapidly at 6.8 percent. By 2027, India is projected to surpass Germany and Japan to become the third largest global economy, with a GDP of $7.3 trillion. Positioned to remain the fastest-growing major economy, India's resilience amid global geopolitical challenges is remarkable. The booming real estate sector and rapid urbanisation present a wealth of opportunities for international investors.
At BDP, as we continue to grow and evolve as a global architecture and design company, we recognise that while we've made significant strides in mature markets, there's a vibrant and rapidly expanding market that deserves our focus: India. There is immense growth potential, and we know that we can bring value and success to so many sectors of the built environment through a sustainable approach to design in the Indian market.
307 Lake Shore Boulevard East, Toronto & Hill Retreat Masterplan, Maharashtra
Luxury Housing: India's luxury housing market is booming. In 2023, the market size was estimated at $36.8 billion and is expected to soar to $101.92 billion by 2029, growing at a CAGR of 21.81 percent. Cities like Mumbai, Delhi, and Bangalore are experiencing a surge in demand for high-end residential properties.
In this evolving landscape, original and striking condo design has become not just an added attraction but a pivotal selling factor for developers. Buyers in India’s tier 1 cities are increasingly seeking residences that offer international living standards, compelling developers to collaborate with renowned global architects, like BDP, to meet these expectations. Drawing on market significant experience in Canada and Singapore, we are perfectly positioned to be part of the influx of global architectural expertise into the country's real estate market.
ITT Kamand Campus, Mandi & Heriot Watt University, Dubai
Education & New Schools: India has a young, dynamic population that values quality education. There's a big demand for high quality educational institutions, from international schools to state-of-the-art universities. The country has more than 1.46 million schools and 230 million students, the largest education system in the world and actively growing. To date, we have completed the design and development of two large university campuses in Mandi and in Jodhpur and we are working on the interior design for two international schools for the Reliance Group. Liaising with our education teams in Glasgow and MENA, we are creating learning environments that not only meet international standards but also incorporate local cultural interests.
Retail & Leisure: The retail sector in India is set to grow at an impressive rate, with the market expected to double to $2 trillion in the next decade. This growth is fuelled by urbanisation, increased consumer spending, and the expansion of organised retail. Our work on Crossroads, a retail development in Gujarat will soon be completed, marking one of our first built projects in this sector.
BoxPark, Croydon & Crossroads, Valsad
Sports Architecture: India’s sports infrastructure sector is expanding rapidly, driven by increased investment and a growing sports culture. The government has allocated $1 billion for sports development under the National Infrastructure Pipeline. As a result of the government’s commitment to investment, we have recently secured a massive sports project in Ahmedabad, positioned to be the venue for India’s bid for the Olympics. Work on this inter-group and collaborative project with teams in Delhi, London, and Australia has commenced, with construction set to complete in three years.
Urbanism & Public Realm: India's rapid urbanisation presents both challenges and opportunities. India's urban population is expected to reach 600 million by 2031, necessitating innovative urban planning solutions. Sustainable and smart city solutions are critical to addressing issues like congestion, pollution, and resource management. Our expertise in urban design is highly valued locally, and alongside our urbanism teams in Singapore and Nippon Koei, we continue to deliver Transit Oriented Designs.
Geylang Serai Cultural Belt, Singapore & Dhaka Metro, Dhaka
Transport: India is investing heavily in upgrading its transport infrastructure. From metro rail networks in major cities to new airports and highways, there is a significant push towards modernising transportation. This opens vast opportunities to contribute to design efficient, sustainable, and cutting-edge transport hubs that facilitate seamless connectivity and support urban mobility alongside our experienced partners from Nippon Koei. For example, we continue to work on the delivery of Dhaka Metro and the Chennai Metro stations for Nippon Koei India.
Oak Cancer Centre, Sutton, UK
Healthcare: The healthcare sector in India is expected to reach $372 billion by 2024, driven by increasing demand for advanced medical facilities. The government has pledged to increase healthcare spending over the next few years, partly due to lessons from the COVID -19 pandemic. Public healthcare spending in India rose from 1.2 percent of GDP in 2020 to 2 percent in 2022. The Indian government aims to increase this further to 2.5 percent by 2025. Already, we are seeing this result in consultative work, including the interior design for a 1,000-bed multi-specialty hospital in Mumbai, showcasing our expertise in creating functional, efficient, and patient-centric healthcare environments.
This is India's decade, and focusing on this market makes sense for global, experienced organisations like ours. The strength of the Indian market, with its abundant, multidisciplinary, and multi-sector opportunities and consistent flow of new projects, offers a promising pipeline for a business looking to match all the advancement in the region. Now is the time to strike while the iron is hot!
