Remote working expected to be a key focus in business continuity planning, says CBRE

In a recent survey by CBRE to gauge the industry’s response to the Covid-19 outbreak, 51 percent of respondents expect the business environment to deteriorate in H2 2020, however respondents from mainland China are relatively more optimistic.

Out of the 250 occupier clients that was surveyed in the Asia Pacific Occupier Flash survey, 84 percent have planned to increased their invest in technology in order to support remote working and Business Continuity Planning (BCP) after the outbreak ends.

While 86 percent have shown to have adopted remote working in order to cope with the lockdown measures, 77 percent are intending to increase their adoption of flexible working.

The survey also highlighted that 71 percent have not been offered any relief measures by landlords.

“While just over half of respondents expect the business environment to worsen in H2 2020, those in markets that were affected by the outbreak in the early months of 2020 displayed a more positive outlook,” CBRE stated.

29 percent of respondents in mainland China expect the business environment to improve in H2 2020. However, 65 percent of the respondents expect revenue to contract in 2020, with most expecting the decline to be under 30 percent.

Respondents in the technology and communications sector have shown the most optimism in accordance to the recent surge in demand for tech solutions since the outbreak.

Like many, disruptions have been unavoidable. According to the survey, two-thirds o respondents have experienced disruption to leasing decisions since the outbreak with the life science sector being the most affected.

Remote working is expected to be a key focus in business continuity planning (BCP). CBRE says the adoption of technology to support remote working is expected to emerge as a central component of BCP planning after the outbreak.

“More than a third of respondents including 55 percent of manufacturing firms expect to consider diversifying operating risks between market while half of banking and finance sector are mulling over splitting teams across multiple buildings,” says CBRE.

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