The roadmap to the realisation of commercial dreams in real estate lies in branding, said Vahid Mehrinfar, the executive principal and chief brand architect of Vahid Associates, and executive principal, Idea, Lowe Contexture, Bahrain Associates of Lowe & Partners Worldwide, in Mumbai on May 4.
Mehrinfar was addressing a select audience from the real estate industry at an interactive session on, "Branding for Real Estate or Building the Future", organised by Realty Plus magazine.
Making his presentation before the audience that included prominent developers and real estate consultants from Mumbai, Thane and Pune, Mehrinfar said that given the recent positive developments in the domestic real estate scenario, the Indian realty market now offered excellent global potential.
"Indian real estate is buzzing like many other parts of the world. However, while real estate across the globe was moving fast towards higher standards, it's not happening so much in India," he added.
Elaborating on the fact that equity in real estate lay primarily in the returns and not the cost, Mehrinfar explained, "Perception is the only facilitator to enhance returns. To touch the right pulse buildings have to create a romance. It's all about connecting with your audience." According to him, a landmark project was one that commanded respect irrespective of its size. "It doesn't really matter whether it's big or small, the project itself should present a strong image and should be perceived as a most desirable address to live in, like the Trump Tower in the US."
Stressing on the growing importance of branding in real estate, Mehrinfar urged the audience to realise the potential of a strong brand. "Brands put your intent and culture into motion. They create a calculated transfer of organisational grids, while simultaneously initiating a process of engineering and inducing perception. It's all about building winning concepts. Owning a brand is more important than owning just another project."
He analysed the reasons behind the success or failure of realty projects. "Real estate projects should tell a story either horizontally or vertically," he said, adding, "The Chinese already have a head start in this aspect. A developer is either selling just a building or a temple. For most people their house is their temple, no matter how big or small its may be."
Mehrinfar averred that the future is the only place that has not been messed up yet. "Let all of us try and kept it beautiful," he urged the audience to a round of applause.