Demand for office space in the Arab world’s two biggest economies – Saudi Arabia and the UAE – will remain intact despite expectations of major changes to the workplace caused by the Covid-19 pandemic.
There is a belief in the market that uncertainty and weak economic conditions will cause businesses to take up less office space as many employees opt to continue working from home.
However, with changes in how office and commercial space will be used to come up with safer work environments, the space requirements each employee requires could increase, Simon Townsend, senior director at CBRE and head of the advisory business in the Middle East North Africa and Turkey, told a webinar on Tuesday.
“What this could mean is that inverse is actually true,” he said.
“You may need more space, rather than less, as we move forward.”
The Covid-19 pandemic has infected close to 11.8 million people worldwide and killed more than 544,000, according to Johns Hopkins University, which is tracking the outbreak.
The rapid spread of the virus pushed governments across the world to close borders, shut all but essential businesses and restrict the movement of people, forcing millions of people to work from home.
Although most economies are now reopening, businesses are embracing the work-from-home culture to protect their workforce.
The trend has posed questions on the growth prospects of the commercial and office property sector.
Mr Townsend said that while the market is in a slightly “weaker place” than it was at the beginning of the year, demand for office space is expected grow or maintain the same trend going forward.
He said the UAE and Saudi Arabi enjoyed the geographical advantage of being the commercial and financial hubs for Asia, Africa and Europe.
“I think a lot of the global corporates will create and consolidate their hubs here and we will continue to see a strong office environment,” he said.
“There will always be demand for office space … I don’t see the end as yet.”
Titanium Escrow profile
Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
Miguel Cotto world titles:
WBO Light Welterweight champion - 2004-06
WBA Welterweight champion – 2006-08
WBO Welterweight champion – Feb 2009-Nov 2009
WBA Light Middleweight champion – 2010-12
WBC Middleweight champion – 2014-15
WBO Light Middleweight champion – Aug 2017-Dec 2017
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Surianah's top five jazz artists
Billie Holliday: for the burn and also the way she told stories.
Thelonius Monk: for his earnestness.
Duke Ellington: for his edge and spirituality.
Louis Armstrong: his legacy is undeniable. He is considered as one of the most revolutionary and influential musicians.
Terence Blanchard: very political - a lot of jazz musicians are making protest music right now.
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
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Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
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What is dialysis?
Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.
It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.
There are two kinds of dialysis — haemodialysis and peritoneal.
In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.
In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.
It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Moral education needed in a 'rapidly changing world'
Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.
Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.
"Moral education touches on every aspect and subject that children engage in.
"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.
"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."
