Real estate and construction, collectively account for the second largest sector of the Indian economy (after agriculture) contributing 17.5% to the country’s GDP. Population growth and increasing urbanization will generate unprecedented demand for quality real estate and infrastructure i.e. construction of the built environment such as houses, offices, commercial space, health infrastructure etc.
An RICS research report estimating the supply and demand for professionals in construction and real estate in India highlights a significant skills deficit across specialized professions of the built environment, be it planners, architects, civil engineers, quantity surveyors, project managers, facility managers, valuers, etc. and a widening skills gap for the foreseeable future. However, until now, the response from the Indian education sector has been slow and inadequate. Courses focused on real estate and construction are not taught in business schools, with the exception of civil engineers, architects and town planners.
Being a professional body representing the leading professionals (who are qualified chartered members of the RICS) in real estate, construction and infrastructure, RICS has been aware of industry issues pertaining to the lack of adequately qualified professionals entering this industry. Globally, RICS accredits Schools of Built Environment, set up by different universities. However, in India, such specialized education for this sector does not exist.
In light of these unique issues for India, as a public interest body whose mission is to promote the usefulness of the built environment profession, RICS India Private Limited (RICS India) and Amity University have come together to establish the RICS School of Built Environment, Amity University, as an industry-led academic institution, to bridge the huge skills gap this important sector is facing.
Having been set up in response to the industry’s need, the School has the immense backing and support of a majority of leading companies in the Indian real estate, construction and infrastructure sectors.