MUMBAI: The real estate sector is seen reaching $1.5 trillion by 2034, more than trebling from $482 billion, constituting 10.5% of the total economic output, up from 7.3%last year, over the next decade, says an industry report.
Of the $1.5 trillion valuation, the residential market is expected to lead with a value of $906 billion, followed by the office sector contributing $125 billion, according to a weekend note by realty consultancy Knight Frank and industry lobby CII. Land for manufacturing activities is estimated to be $28 billion, while warehousing is projected to yield revenues of $8.9 billion, the report adds.
