Tag Archives: Commercial Real Estate: Creches

Companies expect office space demand to decrease on advances in technology

16 Thursday Nov 2017

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Companies expect overall office space demand to decrease as technology brings in better utilisation of space and reduction in headcount, according to a survey by a leading commercial property consultant. However, they see demand for high quality office space to increase in the near future.

Technology is enabling a more mobile workforce and requiring companies to build more agility into their headcount planning. As better space utilization, and weaker front and back office headcount growth will reduce overall demand for office space, landlords must act now to ensure they remain competitive.

Real Estate Developers are, however, more confident about the outlook for office space demand, as they anticipate stronger aggregate demand driven by new startups and emerging industries.

Companies across the Asia Pacific region are placing employee experience at the center of major real estate decisions due to advances in technology, rather than relying on just good location, according to the survey.

According to the survey, whilst location would remain important, the changing order of real estate would require buildings and work spaces to be far more flexible and adaptable than before.

According to the report, it is expected that the headcounts in the information technology space would increase and more multinationals are likely use co-working spaces and incubation centers to improve their access to IT talent and innovative ideas.

Would this increase the value of the commercial properties?  Would more developers opt for leasing rather than selling?

Creches at Commercial Buildings?

29 Tuesday Aug 2017

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The Maternity Benefit Amendment Act, which stood effective from July 1st 2017, stipulates that the employers with 50 or more employees, have to compulsorily provide a creche, either individual or shared, within a specific distance prescribed and would permit the women employees, to visit the facility four times a day.  In a move to  keep  themselves, abreast with the regulations, many of the leading Developers have set up or are in the process of setting up creches in their projects.  A perusal of a recent research report revealed that despite many of the occupiers having set up creches, many other have requested developers to set up creche facility in on going or future constructions. The act also mandates penalty for a period of one year in case of non – compliance.  Would this encourage the women workforce to work peacefully?  Would more developers have tie – ups with playschools and entice women workers by offering adequate services?