COVID-19: Long-Term Implications For Corporate Real Estate

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Executive Summary

This report provides corporate real estate executives with an analysis of how real estate and workplaces will change following the COVID-19 pandemic and economic recession. Despite continuing uncertainty on the pace of economic recovery and the success of virus containment measures, our research finds that COVID-19 ramifications are already accelerating real estate trends such as space rationalization, home working and greater risk-sharing between landlords and tenants. The report also sets out six predictions on trends we anticipate will outlive the crisis to inform corporate real estate executives’ longer-term strategies. 

Table of contents

How Will Corporate Real Estate Strategies Change Following COVID-19?  
Responding To COVID-19 In Real Estate Is A Multi-Dimensional Challenge  
COVID-19 Will Accelerate Space Rationalization And Home Working Trends  
Social Distancing Mandates Will Reverse The Trend For High Office Density In The Short-Term  
The Recession Will Accelerate Space Consolidation Across Offices And Retail Stores
Increased Homeworking Will Drive Firms To Redesign HQs As Collaboration Centres 
New Flagship Smart Buildings Will Be Designed To Support Resiliency And Staff Health
Predictions For The Future: Six Trends That Will Outlive The Crisis

Table of figures

Figure 1. Corporate Real Estate Priorities Will Change In The Aftermath Of COVID-19 
Figure 2. Remote Working Will Become A Permanent Feature of Business Strategies 
Figure 3. Employee Health Will Be A New Focal Point For Flagship Smart Buildings 
Figure 4. Six Trends That Will Outlive The COVID-19 Crisis

About the authors

Dayann Charles Jeyamohan

Industry Analyst

Dayann is an Industry Analyst in the Verdantix Smart Buildings practice. His current agenda focusses primarily on IoT building solutions and the digitization of the built environment and facilities management. This covers themes and technologies across the IoT and cloud landscape including IoT hardware, edge computing and 5G connectivity. Dayann joined Verdantix in early 2020, having previously worked as a Business and Technology Consultant at IBM. He holds an M.Eng. in Engineering (Mechanical) with Business Finance from University College London.

Susan Clarke

Research Director

Susan leads the Verdantix Smart Buildings practice. Her current research agenda focuses on software solutions for real estate management including integrated workplace management systems and IoT platforms for buildings. Her research expertise also includes a broad range of energy management technologies and energy services. Susan has eight years of experience in technology research. She holds a MSc from the University of London in Sustainable Development.

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