Return to the new normal

COVID-19 made a major impact on a global level. As business operations resume, it is an opportunity to review, rethink, reposition and redesign our workplace.

In recent years, companies have started implementing environmentally friendly and cost-efficient designs. Promotion of staff interactions at the office and team building, as well as hot desking and the sharing of work space were other important trends that maximise the use of the office space. Now, with the COVID-19 pandemic, companies will have to prioritise:

• Staff well-being and safety at the office, including social distancing;

• Sustainability for work-from-home strategies; and

• Technology to support remote working

Companies must now make rapid decisions, to adapt and upgrade office infrastructures for their staff to work from home where possible to sustain business operations moving forward Some considerations companies must now take into account are:

• Feedback from employees on working from home;

• Providing staff with flexible work arrangements, such as staggered work days/hours, work from home, and hot desk arrangements at the office;

• Investing in technology that can provide staff with mobility and seamless connectivity off-site and office;

• Considering in-office costs; and

• Maximising and leveraging on the marketing situation to negotiate with landlords about new contracts with improved terms

Companies are now facing a significant number of challenges when recovering from COVID-19, whether to transit to the new normal and reduce real estate costs or not.

How VestAsia can help

VestAsia is a conflict-free tenant representation firm, dedicated to work with tenants and provide flexible solutions on their existing lease or new office requirements. We offer complimentary tenancy agreement reviews and our services include:

Review existing tenancy agreement

• Negotiating short-term rent relief;

• Negotiating relief on strict payment terms;

• Renegotiating subletting terms; and

• Negotiating early renewal at a lower rate

Relocation

• Gaining a thorough understanding of new office requirements, conscious of long-term strategies for tenants

• Locating suitable options in the best interests of the tenant

• Conducting comprehensive analyses of stay vs. relocation, with the inclusion of fit-out budget estimation

• Negotiating early exit with the existing landlord (if required)

• Provide flexible strategies such as serviced office/coworking space for the interim period

Over the years of experience, we have encountered and overcome many challenges together with our tenants and clients, adding value to every tenant whilst building up our knowledge and experience. We aim to share and add value to you and your company to restructure and reposition your real estate needs in this rapidly changing world,

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