The market has undergone significant transformations, especially in the realm of digital marketing and online service provisions. Commercial marketing has swiftly shifted into a virtual sphere, marking a fundamental change in the business landscape. This shift will significantly impact the real estate sector, particularly in reimagining and revamping expansive shopping centers and malls. There’s a clear trajectory toward smaller stores where customers can peruse products physically, place orders, and have items delivered to their doorsteps. The surge in online purchases has led to a reconsideration of spatial quality and location. Retailers are increasingly focusing on streamlining their distribution centers to expedite product delivery to customers.

What are the primary real estate options in your portfolio, and how are you adapting?

Our scope in commercial real estate extends beyond retail to encompass office, industrial, and hospitality sectors—properties that generate rental income. The retail landscape is undoubtedly undergoing a transformation with numerous stores facing closure. The restaurant industry, too, is experiencing closures. Beyond retail, we also engage in office, industrial, and hospitality segments. The office sector, in particular, is undergoing a substantial shift with the advent of new working norms. There’s a clear trend toward enhanced technology with fewer office spaces. The foreseeable future anticipates reduced demand translating to softer prices, prompting companies to reconfigure office spaces for fewer people. However, some companies are pursuing larger individual workspaces. Previously averaging 10 square meters per employee, the future outlook anticipates 13-15 square meters per person.

What do you consider the main investment prospects?

Various investment opportunities are surfacing in the current market, attracting those with substantial funds seeking to diversify risks. Numerous property groups are adopting an aggressive stance, selling portions of their portfolios at competitive prices. This period offers an exceptional window to acquire high-quality properties at a discounted rate. However, there’s a discrepancy in price expectations between sellers, who aim for higher rates, and buyers seeking lower prices. Over the next six months, a middle ground between these two groups is expected to emerge.

What unique value do you offer in the market?

At Cushman and Wakefield, our distinctive approach lies in being a strategic advisory firm. Rather than directly suggesting selling a property, we aim to present clients with diverse options, assessing different ways to repurpose or alter property use. Our objective is to provide clients with strategic advice aligned with the most opportune moments to maximize their property values. We adopt a comprehensive approach, not limited to brokerage but spanning appraisal, advisory services, and capital markets. By furnishing clients with comprehensive information, we empower them to make well-informed and advantageous decisions across project management, capital markets, financial aspects, appraisals, and more. Our aim is to support clients holistically in understanding the market landscape.