Sixty-six percent of Asian firms will add office space in the next three years, up from 28 percent in October, Bloomberg reported, citing a survey by the CBRE commercial real-estate group. Only 35 percent of multinational companies expect to expand their offices.
This suggests that, post-pandemic, Asian companies will return to traditional work arrangements, leaving remote work behind, Bloomberg notes. This is in contrast to European- and U.S.-based companies, many of which will make telework a permanent feature, allowing them to cut real-estate costs.
Asian companies “are relatively traditional and conservative,” Ada Choi, CRBE’s Asia-Pacific head of occupier research, told the news service.