There's no question about the lasting impact of COVID-19 on how we work and what we want from our workplace.
BOOQED hosted this webinar with leaders in the workspace industry to help businesses learn more about how to manage their real estate needs now and after COVID-19.
Shapoorji Pallonji Joyville Vista Pune | Spend Your Family Time Together
Real Estate Planning and Flexibility During and After COVID-19
1. May 15th 2020, 10:00am (SGT/HKT)
Real Estate Planning
During and After
COVID-19
2. About
BOOQED
BOOQED is a digital on-demand platform
for booking flexible short-term workspaces
across Asia, specifically Singapore, Hong
Kong and Mainland China. It connects
enterprises with unused business spaces to
help optimize their real estate needs, and
provides other unique venues.
3. Speakers
Managing Director,
Southeast Asia of The
Executive Centre
Cofounder &
Director of Talox
Director, Occupier
Services of Colliers
Yves LuethiBastiaan van BeijsterveldtYvonne Lim
4. Speakers
• Director within the Colliers
Occupier Services team
• Manages transaction projects for
diverse global multinational
companies
• Expertise includes transaction
management, tenant
representation, portfolio reviews
and divestment analysis
• Has been with The Executive
Centre since 2008
• Started in TEC as the Head of
Sales, extended her leadership
to manage Australia
• Has grown the company's
South-East Asia portfolio since
2014
Yves Luethi
Bastiaan van
Beijsterveldt
Yvonne Lim
• Co-founded Talox, a lease
management and workflow
SaaS for commercial real
estate owners and managers
• Software provides data
analytics about deals and
tenants
• Landlord teams can access
critical portfolio information
5. Moderator
Co-founder / CEO of
BOOQED
David Wong
An experienced business
developer, entrepreneur and
start-up veteran with
substantial international
experience in blue-chip
companies and new ventures
in mobile entertainment,
digital media and tech.
7. Co-working Trends
During COVID-19
BCP (Business Contingency
Plans) has been the most
popular type of enquiry in the
recent months
Significant increase in short-
term leases
Short-term leases preferred in
order to scale up and down
easily
8. Co-working Trends
During COVID-19
Large proportion of clients
previously renewed for 12-18
months term
Increasingly, we see a higher
percentage of clients renewing
for 3-6 months
Many clients opting for
dedicated office > a co-working
membership
9. Singapore Office
Market Insights
1
Cost-saving mindset continues and is accelerated
by the current global situation.
A mismatch in expectations: tenants are
reconsidering lease terms for cost savings but
landlords are looking to increase rental activity
Many occupier initiatives are being put
on hold due to a combination of local,
regional and global decisions
2
10. Singapore Office
Market Insights
The evolving workplace needs to be
divided into short-term and long-term
planning
3
4
Flexibility is a key focus
for many occupiers
Increasing possibility for cost savings in a low vacancy
environment when implementing the right strategy
Combining long- and short-term focus for tenant and
landlord Eg. How can landlords’ help tenants with addressing
real estate needs with respect to cash flow ?
5
Short-term: Cost, contactless access, social distancing
Long-term: Did the work-from-home experiment work
out? Bespoke or flexible office?
11. Changes in
Technology
Landlords are looking to manage
leases and provide rent relief
packages. This process can be
accelerated with technology
• COVID-19 lockdowns have
fast tracked tech
awareness and adoption of
commercial landlords
• The industry sees
integrations as one of
the key ingredients for
tech tools success
• Lots of attention around rent
relief packages - and mid to long
term impact of the Covid-19 on
the industry
Plenty of innovation opportunities in
the market (Eg. Rise of Zoom)
Technology adoption in real estate
has always been slow, and this might
be a much-needed push
Leasing technology can be
improved, as leasing teams
now sift through tons of
spreadsheets
13. Concerns
Survival and managing
P&L
What are landlords and building
management doing for them
now, and to encourage them to
return to the office?
Payment structures to assist
tenants, though landlords are
rigid with rent rebate
How to get rent relief?
15. Planning
a. Considering flex-and-core for your portfolio
b. Adjusted lease agreements
c. Have flexible lease terms for the next 12-24 months
d. Consider business plans and headcount into decision-making
1. Flexibility:
Allowing opportunities to scale up and down, or split
teams into multiple locations
16. Planning
2. Viability of social distancing within office space
3. Responsiveness of landlords to their needs
(therefore it is essential for landlords to innovate
processes with technology, and accommodate
tenants)
4. Individual employee performance with Work
From Home
5. The influence of an office space on corporate
identity
17. What can landlords and
space operators do to
improve tenant security and
confidence in their space?
18. Improve Tenant
Security
Ensure compliance with government regulations on
returning to the office
Increased disinfection activity in compact spaces with
high foot traffic, such as elevators
Revise floor plans to encourage safe use of space
(stickers on the floor as guidelines, etc.)
Temperature taking and use of contact tracing practices
Enable seamless tracking and registration of building
entry with technology
Make executing contracts more efficient
Work closely with their tenants to give them flexibility
with lease terms
19. What is the outlook for the
workspace industry?
20. Outlook
Companies will very likely still retain an
office space to give employees a place for
collaboration and interaction
It can be a win-win situation for landlords
and tenants with ongoing dialogue and
cooperation between the two parties
Office Spaces
Communication
Flex space demand will continue to be
strong, with companies preferring not to go
into long-term leases for now
Flexible Spaces
21. Key Takeaways
Tenants are now looking for
flexibility in lease terms
Landlords and building managers should
implement increased safety measures in their
buildings to gain confidence from tenants
Technology in the real estate industry
will play a huge role post-COVID19
Tenants appreciate pro-activeness
in communication by landlords and
building management