Essential Tenants for the Modern Commercial Property Market
Published Date: 24th Aug, 2024
Essential Tenants for the Modern Commercial Property Market
Since the pandemic, the market for commercial real estate has had to adapt to changing demands for office space. Return-to-office (RTO) policies are being implemented by businesses, but in-office work hours are currently 30% less than pre-pandemic levels and are expected to stay that way. Tenants, therefore, differ in their expectations and goals while choosing their rental office space in Dubai.
The constant pursuit of excellence never stops
Businesses are revising the goals they have for their work environment. The physical layout of offices is a key factor in motivating staff members to come in. In a market for jobs where competition is fierce, it plays a role in both hiring and keeping workers. Businesses anticipate that their workplace space will foster innovation, cooperation, and increased production.
Sixty percent of businesses use a hybrid work style where people work two days a week, one in the office and one remotely. Many businesses are trying to downsize their office footprints as a result. However, a company may not necessarily be trying to save money if it reduces the quantity of space it has. As part of their initiatives to draw and keep top people, several organizations are choosing instead to modernize their office spaces.
There are various ways to improve the standard of office space, including its location and amenities. Commercial property owners In Dubai are modernizing common areas in their buildings, like cafes, fitness centers, conference centers, and tenant lounges, to attract more tenants.
Employers want workplaces with greater collaboration
Gone are the days when workers would commute to an office just to work in a cubicle for eight hours a day. Employers, on the other hand, want to create a welcoming workplace that encourages engagement and productivity. Creating a welcoming and productive workplace can be greatly influenced by office design. Employers nowadays are looking for team-oriented workstations, conference rooms, and collaboration places that foster employee connections. They also desire a private area for concentrated work and more extensive gatherings.
In response, office renters are creating environments that are adaptable and practical. This entails offering more multipurpose rooms and open floor plans. Additionally, landlords are realizing how important it is to furnish their units with communal areas. Tenants can further minimize their environmental impact by reserving rooms at a meeting center that is shared by the property's tenants, which is a desirable amenity.
Modern infrastructure is essential and sets you apart
Businesses now depend more than ever on technology in hybrid work settings. Commercial properties in Dubai must have a digital infrastructure that can facilitate flawless virtual meetings and high-speed internet. Putting money into smart building technology gives properties one more chance to differentiate themselves from the competition and draw and keep tenants.
Smart buildings integrate all of the building's IT systems under a single platform to control everything from lighting and security to heating and air conditioning. Renters and property owners can save money and have increased efficiencies when automated solutions are in place to adjust to changing operational requirements in a hybrid workplace with fluctuating in-office attendance. Furthermore, when assessing workplace possibilities, a lot of commercial tenants give priority to sustainability and energy efficiency.
Date: 24th Aug, 2024
