Competitive space according to the expectations of employees

Over the past few years, the commercial real estate market has been affected by major disruptions, including the global financial crisis and the COVID-19 pandemic. Local demand-side factors exerted the strongest influence on these disturbances in the short term, along with changes in preferences during crisis periods. On the other hand, long-term estimations are still closely related to macro-financial factors. Commercial real estate had to quickly adapt to the changes brought about by the health and geopolitical crises, both globally and locally.

"Structural changes were first and most felt by the office space segment."

The pandemic has converted the future of work into a hybrid model, so today's offices are expected to be flexible spaces that coexist with remote work options.

In this new hybrid model, the office space must be designed so that it can quickly and efficiently evolve from a place to sit-at-a-desk to a revitalized space for connecting and exchanging ideas. Office design must be such that it enhances the employee experience, with flexible layouts that maximize the value of personal contact while adapting to different uses throughout the day. Also, the availability of additional facilities today represents another elimination factor in the process of choosing the adequate space by users. If the office space is not connected to external elements in the form of restaurants, cafes, gyms, entertainment zones, markets, and service activities, it is initially ranked lower and less in demand.

In order for new investments to ensure competitiveness and demand on the market, investors will have to use the power of the digital world in addition to a modern concept that follows the pace of rapid changes, in order to create more sustainable, resilient, and efficient spaces focused on people and their satisfaction. The introduction of applied solutions in space maintenance and the digital form of communication between space users and the object, i.e., its management, is increasingly certain as an inevitable condition that a new, modern, competitive space must meet and thereby meet the expectations of modern users.

Marija Urban, Director of business planning and finance operations