The way back to work: Could Asia Pacific reset how investors and their managers sustain income and maintain occupancy in their office assets?
As we emerge from our pandemic bunkers, many of us in the working world are reconsidering how we want to work. Personally, we may wonder if we have the right priorities, a health threat forcing tougher decisions. Practically, we may wonder if we are working the right way, or in the right place.
Companies and staff members alike are revisiting how they engage with each other. Where and how should they best do that? Will we, in Asia, come back to a new way of working or simply fall back into old patterns? What does that mean for the investors, portfolio managers, developers and property professionals who own or run our work spaces?
Certainly, a few things have changed. Prospective tenants are delaying decisions “as long as possible,” notes Calvin Chou, head of Asia and co-CIO at Invesco Real Estate, and most markets are experiencing weaker net new demand. But he does not expect “widespread footprint contraction.”
That’s not least because employees in Asi