Office sector in Asia-Pacific more resilient than other regions: C&W
Net office demand forecast to grow by 729 million sq ft in the region from 2022 to 2030
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THE global recession will have a more benign and shorter-lived impact on offices in the Asia-Pacific (Apac) - with the exception of Greater China - than elsewhere in the world, says real estate services firm Cushman & Wakefield. Meanwhile, the region's office sector will take just a marginal hit from the work-from-home (WFH) phenomenon.
It noted that all Apac economies are set to see gross domestic product (GDP) return to pre-Covid levels by Q3 2021 in the baseline scenario.
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