Commercial real estate has a ‘shock coming’ as return-to-office plans fall short, CEO says

PUBLISHED TUE, MAR 7 20235:46 AM EST

Hannah Ward-Glenton

The conversation isn’t about returning to the office, Mark Dixon, IWG CEO, told CNBC.Bloomberg / Contributor / Getty Images

There’s a “shock” coming for the commercial real estate industry, but the opportunities ahead are huge, according to Mark Dixon, CEO of flexible office company IWG.

Technology enabled a “fundamental seismic shift” in commercial real estate as the Covid-19 pandemic forced millions of people to work from home for the first time, Dixon said — and workers don’t necessarily want things to go back to how they were before.

“There’s this assumption that people like commuting into a central business district. They don’t. It’s a complete waste of time and money and they don’t want to do it,” Dixon told CNBC on “Squawk Box Europe” Tuesday.

He added that employees are now working more productively “than they’ve ever done before.”….READ MORE>>>https://www.cnbc.com/2023/03/07/iwg-ceo-says-commercial-real-estate-has-a-shock-coming.html

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