2020 will be described as the year of unprecedented shifts and shocks. COVID-19 effects were evident in the economy and real estate markets the world over. Crude oil prices hovered around $42pb and employment numbers weakened. And while new business opportunities opened up, few firms are likely to return to the organizational structures of 2019. For a frontier market dependent on oil revenues, this formed an unwieldy canvass for much of the year. The $30Trn global commercial-property market was tested once more as occupiers required less space understanding that WFH may become the norm.
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