Work-from-home expected to change footprint of some companies by Jamaica Observer

Michael Neita, chief executive officer, Victoria Mutual Property Services Limited, told the Jamaica Observer that from the perspective of what is happening in that company’s property portfolio, an increasing trend in work from home “Will slow the near-term growth in the total commercial office space offerings of new office spaces in businesses that can facilitate remote working”. Operations manager within the group, Dennis Chung commented that this company is not alone as “Many have been forced to find cheaper spaces due to the pandemic. Others have reduced their footprint as their operation requires less staff and more integration of technology. Agents are primarily on the road and are working from home in many instances.” “We were an early participant in the movement towards the ‘new normal’ and the ‘new office space’ where adequately equipped and technologically savvy team members can work remotely from home or any location of their choice. We are an equal opportunity employer and an employer of the future that understands that team members can operate anywhere in the world and still be efficient and effective,” he added. Chung concluded, “The Supreme Ventures Group is encouraged by the results of this strategic direction, particularly in the face of the challenges raised by the pandemic. With an accelerated expansion and growth strategy, the need to maximise the use of office space and more effectively streamline workflows became even more critical. By incorporating technological solutions and new processes the company has been able to create a successful work environment that extends beyond the physical parameters of the traditional corporate office.” Oral Williams, CEO of the company which has a large slice of the commercial moving market, said that most movements observed in 2020 were companies relocating to smaller properties that they already own. VMPS’s Neita said that from the perspective of what is happening in that company’s property portfolio, “Companies make choices based on their current rental location and commercial terms vis-a-vis the locations and terms for newly constructed or recently vacated rental properties. In addition, some companies develop and build their own commercial properties that they eventually move into, thus creating new locations for their operations and new rental space for other entities.” “Companies move for various reasons – the need for additional or less office space, the need for newer or upgraded office space, to change the location of their operations, and also commercial terms of their tenancy.”