As we turned the corner on 2021, hopes that we would be doing the same on COVID-19 stalled. The near-term outlook is cloudy, as facilities of all types continue to adapt as requirements lift and shift. The CRE industry is positioned at the forefront of the recovery: office employers are balancing productivity and safety; retailers are facing critical turning points in an evolving industry; and the residential subsector is competing for tenancy amid shifting migration patterns and heightened affordability concerns. Meanwhile, companies face increasing demands to prioritize environmental, social, and governance (ESG) issues, aging technology infrastructures, a tightening labour market, and increasingly differentiated competition. How the CRE industry proceeds in 2022 could set the foundation for its success over the next several years.
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Contact:
Tony Cocuzzo
Partner and National Real Estate Leader
acocuzzo@deloitte.ca
416-601-6432