Adapting to the Camel week: Strategies for Addressing Underutilization and Flexibility

Vitalija Danivska and Hilde Remoy

ERES from European Real Estate Society (ERES)

Abstract: The recent years have been difficult for many commercial properties. Especially offices experienced low utilization due to the increase of remote work practices after the global pandemic. Whilst office spaces in many European countries remain underutilized, some countries also experience high differences in occupancy throughout the week (e.g. ‘camel week’ in the Netherlands, ‘TWaTs’ in Australia). This phenomenon highlights a pressing need for innovative strategies to adapt to evolving demands and usage patterns, and maximize the value of office spaces. This research aims to identify and evaluate new approaches to space management that address these challenges. To achieve this, a series of interactions with stakeholders are planned. Here a report on the panel discussion with asset managers is presented. The structured discussion facilitated an exchange of ideas on the latest strategies and provided a platform for identifying the most pressing issues in the current landscape of space management. The results of this study include a curated list of strategies that asset managers are employing to adapt to changing occupancy patterns and new demands. The study also highlights key issues faced by asset managers, such as the financial implications of underutilized spaces, the impact of remote work on long-term planning, and the need for sustainable practices in space management. This research serves as a resource for researchers aiming to deepen their understanding of how space management strategies evolve to meet changing demands of users. It offers a better understanding of potential to increase flexibility in space management and highlights areas for further research. The findings also offer valuable insights for asset managers, real estate professionals, and organizational leaders striving to meet the changing demands of office users while ensuring operational efficiency and sustainability.

Keywords: Asset Management; Facilities Management; Office utilisation; Strategic Management (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2025-01-01
New Economics Papers: this item is included in nep-inv
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