The future of offices

The COIMA perspective

22/10/2020

Dear Tenants, Investors, Partners and Friends,

The COVID-19 pandemic has resulted in a rapid conversion of the typical working patterns of companies: during the first wave, the majority of office based employees has worked from home with apparently a limited impact on productivity.

The experience of these recent months has fuelled the debate on how work will be organised after the initial contingent phase of the pandemic. The need for office space by companies has been put into question, especially at a time when the global economic crisis will lead corporates to review their hiring plans, their organisational structure, and their cost base.

It is still early to draw definitive conclusions on such a broad and complex topic, but the purpose of this publication is to put forward some initial analysis and to develop scenarios for the office product in a constructive, objective, balanced and as far as possible quantitative way.

The theme of the future of the office, or of the office of the future, is central to COIMA and we are addressing it by working on two main fronts: (1) consolidating the relationship with our tenants as operating partner with the aim of proactively anticipating their needs and (2) accelerating on the innovation of the office product and operations with the aim of creating workplaces in line with the present and future needs of tenants.

The current economic and market environment is not without challenges: COIMA is ready to transform these challenges into opportunities with the aim of generating value for tenants, investors, employees as well as for the citizens of the areas in which we operate.

A special thanks in the production of this document goes to CBRE for having provided detailed historical real estate data for the Milan and Rome office markets and to MIC - Mobility In Chain for having performed the Public Transport Accessibility Level analysis for Milan and Rome, both important elements supporting COIMA’s data driven approach.

Enjoy the reading,

Manfredi Catella
Founder and CEO of COIMA

Documents

The Future of Offices. The COIMA perspective