Asia Pacific Corporate Tenants Confident of COVID-19 Recovery – World Property Journal

Based on a new survey by international property consultant JLL, over 93 percent of corporate real estate leaders believe their business or recovery plans to mitigate the impact of the pandemic will be successful.

JLL reports that nine in ten believe that these plans to mitigate the impact of COVID-19 will be successful and have faith in their workforce to cope with the current crisis. A majority of leaders also expect total footprint and number of sites that they maintain to remain the same or even increase.

CRE leaders are now moving forward confidently in reimagining the new modern office, with a huge focus placed on prioritizing the health and wellness of employees, as well as leveraging technology in their investments plans.

In the report titled Optimism in the Face of Crisis, CRE leaders are highly positive about the future state of their business. Nearly 80% are confident they have the right CRE service partner to advise on next steps, and 70% are assured in their governments’ ability to advise and take the right measures to mitigate future risk. Looking back at the effectiveness of their business continuity plans, CRE leaders expressed high levels of satisfaction, and 88% judged their plans to be effective, very effective or extremely effective.

While the majority (76%) of CRE leaders across the region expect only moderate impact or steady rationalization (i.e. expansion or contraction) of their real estate portfolios in response to changes arising from COVID-19, not all of them in Asia Pacific view this the
Source…

Global Real Estate

Author: Global Real Estate