Nonetheless, the analysts note that the accelerating WFH trend will not eliminate the importance of office space. “We believe many companies will still want to retain a physical presence in the city centre or in key business districts in other states,” the remark. To that end, they anticipate the adoption of a more formal hybrid model that combines both work from home and office.
In an August 23 research note, RHB Group Research reported the results of a June survey carried out to evaluate Covid-19’s impact on the office sectors in Singapore and Malaysia.
Based on the survey results, RHB analysts Loong Kok Wen and Vijay Natarajan identified key trends for the office space, namely the potential downsizing of office space by 20-30% as remote work programmes become a norm moving forward, resulting in companies revisiting their office space requirements.
