Landlords to take heed of technology and mobility for their workplace to succeed.
How the workplace is perceived and operates is thrust into the limelight once again. A topical subject since changing attitudes and advances in technology have altered the traditional office set-up. Throughout the year we have reported on how office space needs to adapt, the importance of entrepreneurs picking the right office environment and the quest for shiny new offices.
Recent research carried out by CBRE in their report, ‘Technology Redefining Asia Pacific Workplace and Workforce’, has drawn on a few patterns to help influence the future of the commercial market.
First and foremost CBRE put a real emphasis on technology. An aspect that is driving the commercial real estate revolution in Asia Pacific. Used for efficiency and also to help businesses grow. Consequently the need for the perfect location has become less pivotal. Technology enables people to work anywhere at any time. This remote working puts lets pressure on offices. Couple this with technology reducing the headcount and the more efficient use of office layouts and it is expected that less office space will be needed in the future.
“Technology is enabling a more mobile workforce and requiring companies to build more
agility into their headcount planning. As better space utilisation, and weaker front and
back office headcount growth will reduce overall demand for office space, landlords
must act now to ensure they remain competitive. In time, they will emerge as the real
catalyst for meaningful change”, commented Dr Henry Chin, head of research, CBRE Asia
Pacific.
Workplace needs are typically driven by landlords. However CBRE feel that could shift to the hands of the employees who are becoming ‘workplace influencers’.
“The transitional role of technology in commercial real estate will continue to enhance
and influence an evolving employee experience across Asia Pacific. While location will
remain important, the changing order of real estate will require buildings and work
spaces to be far more flexible and adaptable than before”, commented Steve Swerdlow, chief executive officer at CBRE Asia Pacific.
In conclusion, landlords must work alongside tenants in order to meet the changing needs of how businesses operate. A prime address is still a lure for businesses, but only if the office set up is right. And successful office spaces of the future will belong to landlords who look at tenant needs.