In office real estate, social distancing norms may increase the per capita office space allocations even as a segment of employees will work from home. During the last decade, per capita office space allocation reduced from 100-125 sq. ft. to 75-100 sq. ft. in the pre-COVID-19 period of January 2020.
Safety and hygiene will become the top priority, even as contactless operations and automation will increase. Decentralization of operations to ensure business continuity will be a trend reversal from prominent consolidations over the past few years.
While in the retail real estate, online businesses will gain momentum; eCommerce giants have already added over 5,000 people to their delivery fleet during the lockdown period. Their consumer base expanded to senior citizens who have embraced technology in the COVID-19 era.
Mall revival will come with caveats. With hygiene and sanitation taking centre stage, malls which can offer these will benefit most in times to come.