The Fate of the Office Property Business during a Pandemic: Abundant Supply, Quiet Enthusiasts

Real Estate Indonesia (REI) revealed that the property industry, especially the office sector, had a declining market since before the pandemic.

Deputy Chairperson of REI's DPP Ikang Fawzi said the condition was caused by the current high availability of offices, but the absorption has actually decreased. In addition, according to Ikang, currently there has been a shift in work culture, especially during the pandemic, which applies many health protocol rules, such as working at home (WFH). According to Ikang, in the future there will be many changes to be made to suit the current situation. "That's why various efforts were also made in the midst of a pandemic, because people's habits during a pandemic are different. For that we make adjustments, then people buy office space according to their habits of working during a pandemic," he said. Ikang sees that the oversupply of the office sector will make the market more competitive. Like it or not, developers also have to adjust to the office needs in the market.

|•SOURCE•| Articles :NATIONAL | Image :REI |

READ MORE

|• NATIONAL •|Aggressive Tariff For Super Rich
|• INTERNATIONAL •|Winner Of 2021 Indonesia Corporate
|• BANKING •|SINARMAS Land Encourages Stratup To
|• POLITICS •|Employee Working Hours Will Be Arranged
|• SCIENCE •|Initial Screening Of Convalescent Donors