ES. Can you share your personal journey and what inspired you to take on a leadership role at CREDAI MCHI?
Domnic Romell. Taking on the role of President at CREDAI-MCHI was a natural progression of my journey in the real estate industry. Over the years, I have seen the transformative power of urban development and its impact on society. My inspiration stems from a desire to drive meaningful change and to support developers in creating spaces that cater to the evolving needs of our communities. The opportunity to work alongside some of the brightest minds in the industry and to contribute to policies that shape Mumbai’s skyline has always been a strong motivating factor for me.
ES. As President of CREDAI MCHI, what is your leadership philosophy? How do you motivate and inspire others to strive for excellence in the industry?
Domnic Romell. My leadership philosophy revolves around collaboration, innovation, and continuous learning. I believe that empowering my team and encouraging open dialogue allows us to unlock creative solutions to the sector’s challenges. I strive to lead by example, instilling a sense of purpose and pride in our work by celebrating both small wins and large achievements. By fostering a culture of excellence, we encourage every individual to push boundaries and bring their best ideas to the table.
“Building a Sustainable Future: Empowering Innovation, Trust, and Transformation in Real Estate”
ES. CREDAI MCHI has a comprehensive set of objectives aimed at supporting real estate developers. How do you prioritize these objectives, and what initiatives are currently underway to achieve them?
Domnic Romell. At CREDAI-MCHI, we prioritize our objectives based on its immediate impact on the the RE sector and their long-term potential to benefit the community. Currently, we are focusing on streamlining regulatory processes, promoting sustainable development practices, and enhancing ease of doing business for our members. Initiatives like digitalizing approval processes, advocating for policy reforms, and launching platforms for knowledge sharing are some of the key steps we have taken to achieve these goals.
ES. The recent “Ease of Doing Redevelopment” exhibition was a landmark event. What were some of the key highlights or successes from this event that stood out to you?
Domnic Romell. The ‘Ease of Doing Redevelopment’ (EODR) exhibition was a resounding success, with several notable highlights. It served as a bridge between developers, government authorities, and housing societies, facilitating dialogue and understanding. One of the key achievements was the announcement of faster approval timelines for redevelopment projects, which was welcomed by all stakeholders. The event also showcased innovative technologies that can expedite redevelopment processes, setting a new benchmark for efficiency in the sector.
ES. How do you believe the EODR will impact the redevelopment processes for housing societies in Mumbai?
Domnic Romell. EODR is a game-changer for housing societies in Mumbai, as it significantly helps in reducing the complexities involved in the redevelopment process. By streamlining approvals and providing clear guidelines, we expect to see an increase in the number of redevelopment projects initiated in the coming years. This will not only revitalize old and dilapidated structures but also enhance the quality of life for residents and create more sustainable living environments.
ES. From your perspective, how do exhibitions play a critical role in the real estate industry? What unique advantages do they offer for networking, education, and showcasing innovations?
Domnic Romell. Exhibitions are vital platforms that bring the entire industry together under one roof. They offer unparalleled opportunities for networking, allowing stakeholders to exchange ideas, forge partnerships, and explore new business opportunities. These events also serve as learning hubs where the latest innovations, trends, and technologies are showcased, keeping the industry updated and competitive. For developers, it’s a chance to demonstrate their expertise and connect directly with potential clients and investors.
ES. Considering the evolving landscape of the real estate sector, what trends do you foresee shaping the future of exhibitions in this industry? How is CREDAI MCHI adapting to these changes?
Domnic Romell. The real estate sector is undergoing a dynamic transformation, and exhibitions are evolving to reflect these changes. We foresee a future where exhibitions will not only focus on showcasing projects but will also serve as collaborative platforms for dialogue, innovation, and strategic growth. The trends shaping the future of real estate exhibitions include a greater emphasis on digitalization, sustainability, and policy advocacy. These events will increasingly prioritize knowledge sharing, solution-driven discussions, and the integration of cutting-edge technologies that streamline development processes. At CREDAI-MCHI, we are proactively adapting to these changes. Our focus remains on initiatives that deliver immediate impact while having long-term benefits for the community. We are concentrating on streamlining regulatory processes, promoting sustainable development, and enhancing the ease of doing business for our members. Our recent initiative, the ‘Ease of Doing Redevelopment’ (EODR) exhibition, is a testament to this approach. It served as a critical bridge between developers, government authorities, and housing societies, fostering dialogue and understanding.
ES. Lastly, what message would you share with the industry at large?
Domnic Romell. My message to the sector is one of optimism and resilience. The real estate sector has faced numerous challenges in recent years, but it has also shown remarkable adaptability. As we move forward, it is crucial to embrace innovation, focus on sustainability, and continue building trust with our stakeholders. Together, we have the power to transform not just our cities but also the lives of those who live in them, and I am excited to see what the future holds for all of us.
