CBRE, the global real estate consulting firm, conducted a flash survey of Bahrain based office occupier clients from 15th June to 30th June 2020, to gauge the response to the COVID-19 outbreak.
The results of the survey demonstrated a shift towards remote working, with 78% of office occupiers already adopting policies to safeguard against Covid-19. Going forward, the same percentage of respondents reported that they intend to increase their adoption of flexible working after the outbreak ends.
54% of respondents will be reviewing strategies, to ensure social distancing measures are adhered to in the workplace and technology is seen as important in adapting to new ways of working with three quarters of respondents planning increased investment in this area.
Nearly 60% of respondents have commenced discussions with landlords about relief measures such as direct rent reductions, rent holidays and longer rent-free periods. In response, 53% of office tenants confirmed that they have been offered relief measures by landlords in Bahrain.
James Lynn, Director of Research and Consultancy, CBRE Bahrain, commented, “It’s clear there will be an increased focus on technology and flexibility in business moving forward. As the results of the survey show, the traditional workplace is evolving. Landlords and tenants are being compelled to adjust to the changing needs of the workforce. The commercial office sector in Bahrain is well placed to provide solutions, as the trend towards flexibility was already developing in this market. As the needs of occupiers continue to change in the light of the Covid-19 pandemic, further adaptation by landlords to accommodate these changes will be key to maintaining asset performance.”
