Four Emerging Trends in the Commercial Real Estate Sector

As 2021 sets on to rebalance the changes brought on by an unpredictable 2020, new emerging trends have taken on the commercial real estate industry for the better. Amongst the upcoming trends are the increased use of and reliance on technology, a shift towards eco-friendly construction and design, as well as a possible return to coworking spaces. As one of the leading trendsetters in the real estate market, Alfardan Properties is at the forefront of implementing such improvements.

1.      Digital and Smart Buildings

The COVID-19 pandemic has spurred the use of technology within commercial real estate. Artificial Intelligence (AI) is increasingly being used to boost efficiency, productivity, and security while also reducing waste and cost. Energy systems that monitor lighting and air conditioning through computer-based controls create sustainable and efficient systems which in turn offer a seamless work environment for employees. Such technologies are a recurring feature at Alfardan Properties’ various developments including Alfardan Towers, Burj Alfardan (awarded Green Commercial Building 2020), and Burj Al Gassar, which use computerised Building Management Systems (BMS) and eco-friendly district cooling systems alongside services like the smart barrier card access and digital indoor/outdoor screens.

2.      Eco-Friendly Design and Quality of Construction

With sustainability on the agenda, environmentally friendly practices are making their way into real estate. The quality of construction, the materials used, and the designs adapted play a huge role in creating a positive influence and wellbeing in the lives of tenants. This is why most tenants and companies these days look for leasing facilities that provide more than just an office space, rather an experience for themselves and their workforce. Amenities, like cafes, restaurants, recreational areas, and proper ventilation are essential for the physical and psychological wellbeing of employees. Across Alfardan’s commercial portfolio, such features are commonplace that are weaved within the layout of the developments in view of maintaining workplace excellence.

3.      Intelligent Parking Solutions Systems

The increase in diverse users at commercial property spaces demand parking solutions that are more responsive and innovative. Digital parking space management that introduces automatic car number readers and double-deck parking, such as those at Alfardan Centre at Bank Street and Alfardan Plaza at Al Sadd, allow the proper utilisation of parking spaces and optimisation throughout the day. Such innovative solutions far exceed benefits than parking alone, saving time and hassle. Proximity to metro stations also offer added benefits to users by providing easy access in and out of the office in addition to saving time and promoting reduced carbon footprint of visitors. Located in strategic locations throughout the country, most Alfardan Commercial Properties offer this convenience.

4.      Small and Flexible Offices

Flexibility has become one of the most important priorities in the mind of tenants. With the financial uncertainty of 2020, companies are looking for short-term contracts when leasing next as a means to mitigate against unexpected losses. Moreover, as companies return to the office after Work-From-Home policies, many are looking into hybrid working policies that are influencing commercial needs. Changes in office hours, flexibility in working between home and office and other factors are pushing companies to look for smaller offices as they recalibrate their policies. This is becoming increasingly popular for Small and Medium Enterprises (SMEs) who are yet to decide on the future of the company or its operating locations. A return to coworking spaces is also becoming evident as people are once again looking at working together in collaborative spaces. Coworking places like Workinton, located in Burj Al Gassar in West Bay and Burj Alfardan, Lusail as well as Alfardan Centre in Bank Street, are seeing an influx of individuals who are returning to the shared work-space environment.

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