Vaccination levels impacting recovery of commercial real estate

Vaccination levels are at the centre of the difference in the recovery of commercial real estate in first world cities versus third world ones. This is according to the Chief Executive Officer of Galetti Corporate Real Estate, John Jack, who was on the business hour to speak on the rising trends in South Africa’s commercial real estate. Whilst he acknowledges that we are seeing more and more employees returning to work, concerns are still high over a possible fourth wave, forcing many businesses to create “smaller offices within a single office” to reduce interaction between colleagues. He says first world countries are back to normal essentially, and this is evidenced in retail and events running as normal. Jack also explained the rise in mix-use real estate.