Investing in quality office spaces will be critical for organizations to navigate the future of work: JLL

Investing in quality office spaces will be critical for organizations to navigate the future of work: JLL

Dubai, United Arab Emirates:– JLL, the leading professional services firm specialising in real estate, investment management, and development consultancy, explored the wider impact of the future of work on the real estate sector in an insightful discussion with industry experts and thought leaders at their ‘Future of Work’ event.

While the return-to-work phenomenon is being set in motion by organizations across the globe, the role of the workplace is evolving, further necessitating a long-term transformation of the real estate portfolio of companies to succeed in a post-pandemic world. According to JLL’s Future of Work Survey, 77% of Commercial Real Estate leaders agree that investing in quality office spaces will be a greater priority than expanding the total footprint of their developments.

When it comes to the UAE, the country’s office sector has witnessed a remarkable turnaround, rapidly bouncing back from the pandemic era. According to the Demand Study conducted by JLL for Grade A office space in Dubai, in the last two years, not only has the sector seen a resurgence in demand, but it also saw healthy absorption in H1 2022, nearly matching pre-pandemic levels. This recovery was fueled by a combination of three factors: flight to quality, limited supply, and