Office giant confident that workers will return
Office tower landlord and funds manager Dexus believes that corporate Australia will accelerate its shift back to work and is holding its distribution steady in the face of gloomy predictions.
Landlords have been sold down on fears that tenants will take less space permanently due to a rise in working from home, which has been forecast to hit the amount of space they require.
But Dexus chief executive Darren Steinberg rejected the notion that offices will see lasting changes and argues that staff also prefer working in offices as concerns about the pandemic fade.
Mr Steinberg said major companies were mindful of the impact of Covid-19 and “continually reviewing” their plans but insisted on the centrality of office-based work in driving economic recovery.
“There is going to be more flexibility but at this point we don’t envisage wholesale changes,” he said. “The office will remain a very relevant part of the modern workplace.”
“The economy will see a recovery and business people are looking through the cycle and preparing their businesses for recovery,” he added.