We are committed to provide skill development to the real estate workforce, says Bhaswar Paul, Founder, IREED

 

Q1. Can you share a bit about your background and how it inspired you to create an educational platform, IREED?

Aa. It is well known that real estate is the second largest employment generator after agriculture. Yet it can grow from the current 7% of GDP in 2022 to 13% by 2025, and a market size of USD1 trillion by 2030 (Source JLL). The biggest impediment towards achieving this is the severe skill gap in the workforce.

I have worked in the real estate sector for over 15 years. My familiarity with the industry nuances inspired me to attempt to work towards the skill gap landscape which currently exists in the sector. One of the key challenges in the industry today is low employability, which needs to be carefully resolved to achieve those numbers for sustained growth by the turn of the decade.

Q2. What challenges have you faced in establishing and running IREED, and how have you overcome them?

A2. The current university education is not enough to cater to the existing skill gap between our academia and the industry. Even though real estate is anticipated to be the second largest employment generator there is no designated education to enhance employability in this sector.

The well-structured real estate course curated by IREED Academy is now getting on board with multiple universities across India. The course is designed from a specialized program of 3 months to a year-long equivalent to a post-graduate management development program in real estate.

Q3. How do you envision the impact of IREED on the education and real estate industry?

A3. IREED Academy is incubated as an academic partner of the burgeoning Indian real estate sector. IREED Academy aspires to be an industry partner with a significant intellectual investment of key industry stakeholders. IREED Academy is established under the National Skill Development Corporation policy. IREED Academy will launch its first batch for this key industry stakeholder in March 2024 under the NSQF framework as a first-of-its-kind initiative in India.

Q4. Are there any notable partnerships or collaborations with industry leaders/other universities to facilitate student development and placements?

A4. IREED Academy thrives on fostering strategic collaborations and partnerships. We conduct dynamic Job Fairs in universities, teaming up with industry leaders and top developers to facilitate seamless student placements. As per Savills India, the demand for data centres in real estate is set to soar by 15-18 million sq. ft. by 2025, reflecting the industry's evolving landscape. We take pride in extending our expertise to university students, equipping them with skills through IREED courses and ensuring their placement in esteemed real estate companies seeking a skilled workforce. It's a holistic approach to student development and industry integration.

Q5. How do you design the curriculum to stay relevant in the rapidly evolving real estate industry?

A5. Designing our curriculum is a dynamic and strategic process. We understand the importance of staying relevant in the rapidly evolving real estate industry. Here's how we ensure our curriculum remains at the forefront:

• Industry Collaboration
• Regular Updates
• Practical Emphasis
• Adaptive Learning
• Feedback Mechanism

Our curriculum is meticulously crafted under the NSQF framework, pioneering a first-of-its-kind initiative in India. We prioritize staying ahead in the rapidly evolving real estate industry through active collaborations with industry experts, regular updates aligned with market trends, and a strong focus on practical skills. Embracing feedback from students, alumni, and industry partners, our courses ensure hands-on experience, bridging the gap between theory and real-world applications. We leverage impactful partnerships, including job fairs and alliances with industry leaders, to facilitate excellent placements. Our commitment extends to university students, equipping them with skills that top real estate companies demand.

Q6. How do you support students throughout their learning journey, both academically and personally?

A6. We provide holistic support to students on their learning journey. Academically, our programs are meticulously designed under the NSQF framework, ensuring relevance and practicality. We actively collaborate with industry experts, incorporate real-world applications, and offer hands-on experience to bridge the gap between theory and practice. We foster a supportive learning environment, encouraging feedback, and understanding the unique needs of each student. Our commitment extends beyond academics, empowering individuals to thrive in the dynamic real estate sector.

Q7. Can you share some success stories of students who have graduated from IREED and made significant strides in their careers?

A7. Sharing the story of one of the outstanding graduates of IREED Academy, whose journey from a novice to a skilled real estate professional exemplifies the transformative power of our programs. Hailing from a non-real estate background, she enrolled in our course (REEP) with aspirations of a thriving career. Through our unique blend of theoretical knowledge and practical skills, she is not only mastered the intricacies of the real estate sector but also gained hands-on experience in dealing with industry challenges.

Her success story is a testament to IREED's commitment to bridging skill gaps and fostering a new generation of skilled professionals. She embarks on a promising career in real estate, she stands as an inspiration for others seeking to achieve excellence in this dynamic industry.

Q8. Are there any upcoming projects, partnerships, or developments that you are particularly excited about and would like to share?

A8. At IREED Academy, we are thrilled about our upcoming initiative – a Job Fair set to be held in college auditoriums this February. This event promises to be a game-changer, providing students with the opportunity to attend insightful workshops led by real estate industry experts, gain valuable insights from inspiring keynote speakers, and significantly enhance their job opportunities. We believe this initiative will bridge the gap between aspiring talent and industry leaders, fostering career growth and development in the real estate sector.

Q9. Could you share examples of student-led initiatives or projects that have had a positive impact on campus life or the local community?

A9. We take pride in student-led initiatives that actively contribute to both campus life and the local community, impacting professionals aspiring for a luxury lifestyle. Academic sessions cater specifically to working professionals, transforming existing manpower into a highly valued workforce. Real-time case studies and industry visits prepare our students for success, enabling them to apply daily learning at work. IREED is not just for day scholars; it's for management graduates seeking to turn every opportunity into a successful milestone. This unique approach sets our student-led projects apart, fostering an environment of excellence and real-world application.

Q10. What are your aspirations for the future of IREED? How do you envision the institution evolving in the coming years?

A10. IREED aspirations align with the tremendous growth potential of the real estate sector. Envisioning a future where real estate's contribution to GDP reaches 13% by 2025 and attains a USD 1 trillion market size by 2030, we strive to be at the forefront of this transformative journey. We aim to play a pivotal role in shaping a skilled workforce, fostering innovation, and contributing significantly to the dynamic landscape of the real estate industry.