JLL, a real estate investment, and advisory firm, has enclosed the insights on the property trends which is expected to drive the Middle East’s real estate sector in 2021 at its annual outlook event which was hosted virtually in Dubai.
While in conversation Dana Salbak, Head of Research at JLL MENA, provided the overview of the critical themes such as sustainability and technology adoption, which provides the increase during the pandemic and are more conversely to drive the construction or real estate industry forward.
Considering 2020, Salbak said: “The year 2020 and the pandemic have reminded us of the fragility of our society and ecosystem, and have increased the focus on tech adoption, as well as, sustainability and Environmental, Social, and Corporate Governance (ESG).“To ensure business success, these elements must be at the heart of operating strategies and customer experience. Going forward, these themes will define the shape of the real estate recovery and of real estate investment over the coming years in the Middle East and beyond.”
According to JLL, in 2021 offices are likely to mitigate some of the reduction in demand caused by the increasing levels of work from home culture.
As per JLL, in 2021 offices are more probably to mitigate some less in the market which is caused because of the increase in levels of work from home culture.
Moreover, the short-span design will be all about “making do with what you have” for most corporates as cash preservation remains a top choice. However, in the long-span office adaptations are likely to drive demand for more space.
“Relaxing seating densities, and collaborative spaces are likely to be a more permanent feature in a post-COVID office environment. This will mean more meeting rooms, more video/VR space, and more space dedicated to green space as well as health and wellbeing. Office design will need to factor this in and support the strategy around an all-around best-in-class employee experience,” said Salbak.