The ongoing future of work and real estate that will facilitate it
The ongoing future of work and real estate that will facilitate it, based on a global survey of ULI, was the subject of a great discussion that we attended yesterday, moderated by Stelios Bouras.
Companies - even before the pandemic- were looking for cost decrease via space management optimization, which led to new workplace typologies; from low density assigned offices to higher density desk sharing and activity based workplaces. The focus of workplace design had already shifted on more human-centered approaches focusing on employees’ and companies’ well-being.
It seems that productivity is performing well on Working From Home mode, but for how long? We are now on an emergency temporary mode, but what if this condition was supposed to go on forever? Working From Home and having this balance blurring effect between worklife and the rest of our life for the rest of our lives will it be sustainable and healthy?
Let’s investigate on what Lee Cal said; what are the reasons to get people in the office? There has to be a clear reason to go to the office.
The office space is not only real estate and relative metrics. It is where people work, meet, collaborate, brainstorm, and socialize in person, share ideas and feelings, where people live and create together.
We feel that what comes first is the satisfaction and engagement of what we do. Our work has to satisfy both our basic needs and our mental, psychological and social evolution. It is not for granted that all of us enjoy and engage to our work. This is a parameter that we cannot leave aside when counting productivity.
I focus on two key insights that were discussed, which are quality and human-centricity as the drivers for the workplace of the future.
Human-centered focusing on people’s needs, either if that is common spaces for socializing and collaboration, or spacious and safe workstations, healthy working environments that facilitate productivity and creativity. Since people’s needs may change through time flexibility of space is a key parameter.
Quality of space is based on design, space qualities and performance, sustainability and comfort conditions.
The demand for human-centered and high quality working environments has not been affected from the pandemic condition but maybe has been accelerated as Romen Journo indicated. He explicitly referred that the value is on the quality of working life and that workplace should be evaluated holistically.
We identify a shift from workspace as an asset to workspace as a service, a workplace that fosters for the company culture to embrace people’s satisfaction, well-being and performance.
Advocating and promoting the value on workplace quality can offer added value on real estate investements.
WORKTECH 20 GLOBAL CONFERENCE
I have spent two long evenings attending the WORKTECH 20 GLOBAL CONFERENCE, from my home office, surrounded by my children learning from home and my husband working from home. The conference was inspiring, well-organized, on a well-designed platform.
The feelings are mixed. Great opportunity for me to escape and actually attend a global workplace conference BUT in the same time it felt like a lost opportunity, since I really missed the interactions and live discussions that follow presentations, the debates and comments that emerge new ideas and generate new relationships, collaborations and exchanges.
For example I would really like to meet in person and go on discussing with David Firth on his empathetic narrative and my feeling on how we are being collective super-heroes/heroines. I would really like to exchange insights with Timothy Ahrensback about the role of play in the workplace and learn more about Lego’s vision. I would definitely meet Julie Chakraverty to learn more about her insights on people’s need for support that is unanimously further expressed on Rungway’s supporting employees platforms and show a different position and difficulty for women. I listened carefully the panel discussion on HOW CAN ORGANIZATIONS MAXIMIZE EMPLOYEE HEALTH & PERFORMANCE IN THE MIDST OF A PANDEMIC with Julie Chakraverty, Jackie Cooper and Paul Smith. I would exchange ideas with Katie Shima and her practice’s design ideas on how to facilitate emerging people’s needs in public space and workspace. And of course I would like to share my coffee break with Professor Sir Cary Cooper and talk about diversified needs between employees and the balance needed between technical and people skills for successful leadership and the core role of culture bottom up and top down. I would make an effort to join the discussion Philipp Ross, Raj Krishnamurthy and Brian Marchal would probably continue on lunch break about how workplace stakeholders will support return to office processes. On the same time I would try to have an ear on Mike Pilcher, Kasia Maynard, Doug Lowrie and Dominic Dugan keep on discussing about psychological space in the workplace and reinvented equality after virtual collaboration experience.
I am sure that I would have left the supposedly live in situ conference exhausted and satisfied in the same time from all the information and interactions, but definitely empowered and more optimistic. The most probable is that I wouldn’t have the chance to attend live and I would never had that experience, travelling from Greece to whichever destination the global conference would have taken place. So eventually I am being grateful for this opportunity to have the experience of a Worktech Global Conference and I am looking forward to a next live or virtual one. I just miss the smiley faces and the warmth of human interactions that can evolve after meeting in person and have the experience of the other..
Now that I write this I realize that this is the employee experience that many presentations referred to and we should focus on taking care for the transforming purpose of the workplace and the future of work. The pandemic was a great opportunity for companies and employees and workplace stakeholders to realize that WFH can happen and be successful after some fine tuning depending on the specific conditions. But something is definitely missing and this can only be realized after the first shock and adaptation period. This something is the power of live and serendipitous interactions, people meetings and sharing common experiences in common physical spaces. Gather around a table, standing or sitting, share a coffee or a lunch break and connect. The power of human interactions and sharing.
A new challenging period is ahead of us to explore the present of work and plan for the future of work. Of course, like before, there is no one solution that adresses all the workplace cases that as expected are complicated, differentiated, special and unique, according to business, culture, size, localities and humans involved.
Human-centered has always been the key for design practices. Well-being goes with human-centered whatsoever. Culture is the driver for employees and companies well-being. But isn’t well-being the ultimate purpose from everyday life, work life, health-wise, philosophical point of view?
Workplaces and investing dynamics
ELIE's webinar which took place at 7.5.2020 with the subject «Real Estate; Touristic, Commercial, Logistics and Industrial Spaces, Future and Downsides due to COVID-19» was really interesting considering the presented outcomes of Greek Real Estate metrics.
We focus on office buildings and Saviilis Dimitris Manousakis presentation. Offices present resilience as real estate opportunities even during COVID-19 pandemic situaation and global crisis.
A great demand for grade A offices is reported for another year, especially for districts that attract business interest such us the center of Athens and North Sector of Athens. There is great building stock, but only the 32% of it consists of Grade A and B offices.
Some numbers register the trends and facts. Let's focus on the central Athens district. Rents for grade A offices are 15-24€/m2 where vacancy rate is 2-4%. On North Sector rents are quite lower 15-20 €/m2 with vacancy rate again 2-4% and almost double office building properies. The opportunity to convert office buildings to grade A offices and therefore achieve higher rents combined with higher demand and lower vacancy rates is emerging. For example grade B office in Athens can achieve from 8€/m2 to 20€/m2 after renovation and upgrading. Yields for offices are being optimized as they are compressed to 5,50-6,50% for central Athens and 6,25 – 7,00% for North Athenian Sector.
The way of work is transforming, affecting workplaces as a result. It is a revealed opportunity for office buildings to be transformed and adapted to new conditions. The global discussion on workplaces had already shifted to employess well-being. Today the need for safe and healthy workplaces who foster for people's well-being is even more demanding under pandemic condition.
Old and outdated building stock can be transformed to high quality and services contemporary workplaces. Flexibility in design will allow for adaptability to changing needs such as more meeting rooms, more distanced workstations, technological support, clean air conditions with natural ventilation and natural lighting.
The challenge for real estate owners, investors and architects is upgrading office buildings to achieve Return On Investement in both financial terms, raising the demand, rents and compressing yields and in workplaces qualitative features, fostering health and well-being , adapting to changing needs and demanding conditions.
Multinational Multicultural Center - new project
Last night we attended a gala celebrating love given by the Patriarchate of Alexandria and All Africa, with the venerable presence of the Primate of the Alexandrian Church, His Beatitude Pope and Patriarch of Alexandria and All Africa, Theodore II. The dinner-gala was a great preparatory launching event for a project that we are honoured to be part of the project team. It regards the complete renovation and transformation of an existing building in Kypseli Athens to a multinational cultural and educational center which will be led by Alexandrian Breath, a non-profit organization founded by the Patriarchate of Alexandria and All Africa.
The aim of Alexandrian Breath is to create a center of creation, education, culture and recreation where all of the area’s residents shall have access to actions which shall improve both their quality of life and their place in society. The vision of the Patriarchate is to facilitate and support the creation of a healthy intercultural society aiming for the peaceful coexistence and mutual respect of local and foreign population in the center of Athens which can be achieved by joint actions.
We are proud and honored to be part of the project team as the architects of the project.
Introducing green in the workplace
Who needs evidence, surveys or numbers to realize the positive impact that the presence of natural green may have in our everyday life.
There are plenty of surveys that connect the biophilic design approach in workplace design to positive outcomes like increase of productivity, employee’s well-being, decrease of absenteeism, employees’ engagement and the attraction of talents.
Experience speaks by itself.
In our office we recently added some trees and plants in our veranda on the 8th floor. Both the view and our everyday life changed radically. We have natural shadows, we experience the constant moving of the leaves, the growing up of the plants, the life that they bring around them. Their presence is so comforting, relaxing and inspiring.
It is a simple gesture and it can change our workplaces.
We make special effort in our projects to connect to natural elements, outdoor environments, greenery according to the location, the characteristics and the context.
Visit our workplace projects to find out.
Thessaloniki Design Week - Re-creation
Our project "Redesign and Rehabilitation of a former telecommunication center building to an office building, in Laertou str, Pylaia Thessaloniki" OTEestate property, is selected for the first Thessaloniki Design Week with the the general axis and theme RE-CREATION.
A number of events and activities will be spread in Thessaloniki.
Our implemented project was selected for the exchibition with the theme "Re-generating
the space" Developments that rapidly change production structures in modern societies leave behind shells in need of re-generation and transformation into new utilitarian infrastructures. Spaces and urban landscapes, new landmarks and their equipment get a new shape of life, creating poles of innovative behavior and urbanity.
The exhibition takes place in MOMus-Experimental Arts Center at the Thessaloniki port. 05-12 May, visiting hours 10.00 - 18.00 and until 22.00 on Thirsday.
More: https://thessalonikidesignweek.gr/programma/
Real Estate 4.0. The transformation of an Industry.
It has been a very interesting conference held by ULI Greece & Cyprus.
Innovative case studies were presented starting from the city of Tel Aviv and its fresh spirit approach that makes the city attractive to talents and startups increasing the dynamics of the city and implementing a strategic vision for growth .
Insights and ideas were presented on discussion panels referring to case studies from the Sharing economy, the Experience economy and the Innovation economy.
The Sharing economy panel focused on co-working concepts and flexible offices concepts and applications.
The Experience economy panel focused on hotel concepts that offer special experiences.
The Innovation economy panel focused on business concepts that use technology innovation and AI tools to foster business productivity and effectiveness.
Real Estate development opportunities exist in concepts that dare to invest on special human experiences, using innovative strategies and digital technology. We just have to be open-minded to identify them. Architectural design can transform real estate properties and create added value using daring experience and human-centered concepts.
Very well organized event with premium speakers and attendants.
The power of exchanging ideas, experiences and knowledge.
Smart Workplace Design Summit Spring Edition in Berlin
It has been two days full of conversations, interactions, sharing of ideas and experiences in a unique environment in a former warehouse building by Spree river in the suburbs of Berlin.
Day 0
We were the first to visit Zalando's new headquarters in Berlin, an inspiring workplace environment organized around a living atrium which is the heart of the building. Impecable human-centered design, with great attention for details and use of natural materials. Henn and Kinzo created a unique workplace. There is even childcare provision with kindergarden on site and facilities for working parents.
Day 1
Starting with Lars Sorensen and his social experiments, enjoying with Mike Walley and his running a hotel and tech company theory. Going on with Ahrend’s call for silence and the silence box which seems the only possible way to detouch from smart devices, prof. Veronica Kotradyova and her deep research on applying human centered design at workplace, Luctra presentation on how lighting impacts our health and well-being, Zaha Hadid Architects amazing use of decoding data analytics to get the best out of people in the workplace, Linkedin and their experimenting workplace innovation in an actual workplace hub, Unicredit and a practical approach on how to manage optimization in huge corporate portfolio, Ecophon and its always convincing by experience need for healthy acoustic environments that help people thrive, Jan Revaj and his empathy, emotion, evolution approach that leads to breathtaking architectural results, and finally Killan Keller and his focus on the authentic feelings that facilitate decision making, which we practiced on stage using our bodies. The end of the presentation could not be better, but that we cannot describe, it was a unique experience that only those who lived it can understand.
Day 2
Zalando team presented their new headquarters challenges and the way they use digital tools to facilitate work and employees everyday life. A panel discussion followed about agile workplace and agility, where everybody agreed that agility as a word is trendy to use and actually it can reperesent different meanings and working parameters. Lieven Bartier made it obvious that we can be more effective with shorter and dedicated meetings of 17 minutes. Stephanie Hugues was as always inspiring presenting her architecting interactions strategy of creating spaces deriving from the intelligence of users. Mikomax and Vecos presented playfully how their furniture and storage products respond to contemporary workplace needs. Chris Middleton from Kinzo architects presented some key projects of their user-centered design approach with again inspiring workplaces for all. Workshops and the closing campfire session on how a good crisis can turn to transformation opportunity with Hansel Holger from European Central Bank lead to the end of the conference.
We are already excited for next Smart Workspace Design Summit event and we are overwhelmed of the people we met and the power of exchanging ideas and experiences.
Will greek real estate market recover? Is there need for high quality workplace properties?
The annual ELIE (Hellenic Valuation Institut) conference for greek real etstate market presented interesting insights anr remarks.
We focus on office buildings.
70% of existing office buildings are built before 980. Only 3,2% of office buildings are sustainable. There is great office building stock but luck of grade A offices.
For grade A offices rents tend to rise and yields tend to low, which is a result of higher demand. Rents for grade A offices in the center of Athens can be even three times more than rents for grade B offices. Vacation rates are less than 5% for grade A offices and around 15% for grade B offices.
Low grade offices have no deamd at all even if they are offered in remarkably low rent rates.
Demand for office building properties is expected to rise even more with the recovery of state economy.
The demand for high quality offices is proven. There is building stock but cannot meet the contemporary workplace needs. We can identify a clear investement opportunity with definitely promising ROI.
Architectural workplace design can achieve existing building transformation to contemporary high standards workplaces with space management and energy performance optimization. New workspaces in existing buildings will offer various advantages for companies and their employees well-being, will reply to a specific real estate market demand and will create return of investement for both investors and companies.
How could companies facilitate the everyday challenges for working parents in the workplace?
Women On Top in business organized a summit in the form of workshops on the subject of achieving equity in the workplace.
Our practice had the role of facilitator for the team who discussed and planned on the field of childcare provision design and management. We came up of various solutions that included spacial small or big scale interventions. Small scale interventions like flexible offices for parents and children, transforming relax and social areas to children friendly spaces, study and activity rooms for children during school holidays or big scale interventions like childcare provision in the workplace.
It was revealing for all of us how many ideas could be applied and how much they would facilitate our everyday life.
We are so thankful for this experience, the great sharing of experiences and ideas, and the creative collaboration which could lead to practical interventions on the workplace in favor of employees’ work life balance and wellness.
We are grateful to Women On Top for the concept and call for action and also we thank a great group of participants that contributed to creating a unique experience that empowered us all.
For more contact us or Women On Top to ask for the e-book.