JLL, the American commercial real estate service provider released the JLL Q1 2020 UAE Real Estate Market Performance report on 27th April 2020. The report states that the office sector of the UAE will run on the wheels of improving workforce collaboration, employee wellbeing, and productivity. These changes are a resultant of the global outbreak of COVID-19.
The business verticals and markets have faced a downward sloping curve due to the global pandemic. The report stated that the office market in Dubai and Abu Dhabi are facing being in the stage of the late downturn of the cycle. This is because the leasing activities were sluggish in the first three months of the year. The trends of late 2019 being the foundation of trends hereafter, the demand in the corporate is expected to continue being the same for fitted spaces on flexible leases for tenants.hrtech news
Head of Research MENA at JLL, Dana Salbak, stated that it was expected that the corporates would be focused on implementing measures for business continuity, keeping in mind the current environment. They are also focused on the development of operational resilience for the long-term.
A major portion of organizations will seek a modification of the layout of offices and design as an attempt to cater to the employee needs and mid-term organization strategies. But, in the longer term, the company expects to witness a demand for collaborative workforce spaces and social experiences, not just a space to work in.
It is also expected that there will be widespread adoption and implementation of Health and Wellness Standards to make sure that employee wellbeing is rightly taken care of.
The company is relying on government initiatives and resuming normal activities for the improvement in market performance.
Companies will now shift their focus on a collaborative environment and employee wellbeing. To know more about such news relating to the hrtech industry, follow the hrtech cube, hrtech cube publishes regular content from the field of hrtech.