Volume 15 (2025-2026)

While return on investment (ROI) has been the predominant formula for quantifying the value of commercial real estate, this measure fails to capture the full picture in today’s complex landscape. Much of a building’s worth lies in the experience it offers end users; one shaped not only by location and square footage, but also by the degree to which it builds community and affects occupants and visitors emotionally. This paper proposes return on experience (ROX), a concept borrowed from the consumer-products world, as a complementary evaluation framework that provides a more holistic appraisal when integrated with traditional ROI. By assessing the existence of — and investing in — experiential factors like psychological comfort and layering them onto metrics, such as floor-plate efficiency, stakeholders can achieve a multiplier effect that can significantly amplify property value. We outline a framework of seven experience attributes, prioritised according to existing research, and explain how to evaluate them, thus offering a clear road map for strategic investment decisions. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: commercial real estate; return on investment; return on experience; interior design; strategy

Improvements in artificial intelligence technology, and the growing abilities of programmers to utilise mathematical algorithms to solve more complex spatial problems, opened possibilities to automate and speed up complex processes by 1000× in commercial leasing and office space design. Office space plans that follow local regulations and take into consideration client requirements can now be completed in minutes, not days or weeks. A technical design, and bill of quantities can be generated in 2–3 minutes with 2–5 per cent accuracy, rather than in months of work, or ‘by sqm/sqft’ with 15–20 per cent accuracy. A virtual reality/augmented reality walkthrough that used to take days and cost thousands of dollars, now takes 30 seconds to create. These changes have a massive affect on the process of commercial leasing, and as secondary effects can create huge disruption for the world’s largest brokerages, and for the broker disruption as a whole. This paper offers a glimpse into the future, an overview of the technology, but also a set of strategies for real estate agencies and brokers to stay relevant and bring more value to their customers. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: artificial intelligence; Prop‑Tech; commercial leasing; brokerage

Contaminated properties, commonly known as brownfields, represent a significant environmental and financial challenge for many US companies. The US Environmental Protection Agency estimates over 480,000 such sites nationwide, with cleanup costs collectively reaching into the multi-billions of dollars. These properties often remain underutilised or unproductive, imposing ongoing carrying costs and tying up corporate resources. However, brownfields also present opportunities for value creation through redevelopment and strategic asset management. By shifting these sites to a ‘higher and best use’, companies can unlock latent value while transferring environmental liabilities off their balance sheets. Environmental liability buyouts serve as a key mechanism in this process, enabling sellers to generate liquidity and reduce operational burdens. Effective risk management is crucial to facilitate these transactions. Tools such as environmental insurance, indemnities and escrow arrangements help control unforeseen liabilities and provide financial certainty. This paper explores these mechanisms in detail and presents a case study illustrating their practical application. The analysis demonstrates how integrating environmental liability buyouts with tailored risk management solutions can transform contaminated properties from liabilities into viable redevelopment assets. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: brownfields; environmental liability buyout; contaminated property redevelopment; environmental risk management; remediation cost uncertainty; environmental insurance

This paper explores the influence of ethical considerations on decision making within an organisation’s internal corporate real estate (CRE) function. CRE is increasingly recognised for not only its operational and financial implications, but also as a strategic asset that can shape organisational culture and overall effectiveness by influencing the employee experience, including collaboration, productivity and wellbeing. By examining the intersection of ethics and CRE, this paper aims to uncover the extent to which ethical considerations influence executive decision making within corporate occupiers’ internal real estate function — actions such as property acquisition, development, disposal and sustainability considerations, all of which have far-reaching effects on both organisations and society. This paper presents a qualitative study investigating the role of ethics in CRE decision making. Drawing on a research approach comprising semi-structured interviews with selected CRE executives, this paper identifies the key ethical principles that underpin and influence decision-making processes within the industry. The findings reveal that ethical considerations are often conflated with compliance obligations, resulting in inconsistent application across and within organisations. This highlights a need for CRE leaders and organisations to move beyond regulatory minimums and take active responsibility for embedding ethical principles into decision making. As the societal and environmental implications of real estate intensify, ethical leadership is arguably vital to fostering transparency, accountability and long-term value. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: ethics; decision making; corporate real estate; organisational tension; leadership

Traditional corporate real estate planning focuses on space supply — square footage, ratios and amenities — yet consistently fails to predict actual utilisation patterns. Organisations invest millions in workspace transformations only to find employees avoiding new collaborative areas or hoarding desks in flexible environments. This mismatch stems from overlooking the behavioural and psychological factors that drive space choices. This paper presents a framework connecting behavioural science to workspace design and utilisation, synthesising research from psychology, decision-making theory and workplace studies with practical implementation methods. The framework identifies five factors of space attraction: task-space alignment, psychological needs (autonomy, competence, connection), individual differences, social factors and environmental quality. Analysis reveals systematic decision heuristics that shape space choices: availability bias leads people to default to familiar settings; social proof creates self-fulfilling occupancy patterns; loss aversion drives desk territoriality in shared environments; information overload produces decision paralysis; and satisficing results in suboptimal selections. Four choice architecture principles address these patterns: simplifying space options to four to six clear categories reduces cognitive load; designing default choices to align with optimal outcomes; providing context-appropriate information at decision points; and establishing continuous measurement and adaptation cycles. Organisations can implement these principles through systematic behavioural diagnosis, targeted interventions matched to specific failure modes, controlled pilots with clear success metrics, and scaled rollout that preserves underlying principles while adapting to local contexts. This behavioural approach shifts corporate real estate from supply-focused planning to demand-focused design, improving space utilisation, employee experience, and return on real estate investment. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: workplace behaviour; behavioural science; choice architecture; space utilisation; workplace design; activity-based working; decision making; environmental psychology; corporate real estate strategy

This paper shows that by applying a unified corporate real estate (CRE) framework to a regionally managed portfolio, combined global consistency with local flexibility transforms real estate into a strategic enabler of enterprise value. Global enterprises are increasingly recognising that a decentralised CRE model — while once beneficial for regional nuance — can lead to inconsistent decision making, fragmented data, duplicative costs and missed strategic opportunities. To remain competitive, companies are transitioning toward a global integrated CRE platform that aligns real estate with enterprise strategy, drives efficiency and enhances value delivery, but achieving this shift requires more than structural redesign. It requires a focused plan to be executed including: (1) developing a roadmap that defines, prioritises and organises crucial factors for change; (2) a defined changed management process; and (3) a process to centralise portfolio strategy to drive global goals and impact regional sensitivities. One company (The Company) one of the world’s largest consumer products companies, in response to shifting global demands, cost pressures and changing workplace expectations, embarked on a strategic transformation to centralise its CRE function. Transitioning from a regional model to a unified, strategy-driven organisation, The Company aimed to unlock operational efficiencies, elevate portfolio performance, and ensure alignment with its broader business objectives. This paper aims to provide an overview of The Company’s journey and to highlight the key outcomes and results The Company is currently enjoying. It also aims to describe and highlight key activities and frameworks other CRE organisations can employ to enjoy similar outcomes and benefits. For each of the sections described, we will provide a brief overview on why having the element is key to the initiative’s success, and key actions required to enjoy similar outcomes. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: corporate real estate strategy; centralised vs decentralised CRE model; global corporate real estate operating model; portfolio strategy and real estate governance; hybrid work and real estate portfolio optimisation; CRE transformation roadmap

The success of digital transformation in real estate (RE) and facility management (FM) is based on understanding modern digitalisation technologies, their applications and benefits. Among them is a technology called network facility management (NFM), which is essential to manage one of the most important asset classes: data and communication networks. Business processes and economic success are highly dependent on a smooth and reliable operation of those networks. Data and communication networks, with their diverse components and connections, are a particularly important and complex class of facilities that require the same attention and professional IT support as other assets supported by computer aided facility management (CAFM) systems and integrated workplace management systems (IWMS), for example. The IT systems used for this purpose are referred to as NFM systems and can be considered special CAFM/IWMS systems for networks. NFM covers planning, provision and operation of all physical and technical facilities required to establish and operate network infrastructure, including network infrastructure components, physical connectivity and supporting infrastructure such as power, cooling and space. Despite some similarities between CAFM and NFM systems, such as the mapping and management of facilities in their spatial environment, NFM systems support very specific planning, documentation and management tasks. Communication and data exchange with other systems are equally important. The collaboration between NFM systems and other related IT systems like dynamic network management systems (NMS) is presented here as particularly important and useful. Furthermore, special challenges in data capturing are discussed, which differ significantly from classic data collection in RE/FM due to the specific nature of networks. The paper describes relevant NFM features, processes and benefits. The focus is on how to provide a reliable, up-to-date source of information despite the complexity and high rate of change in the physical IT infrastructure. At the heart of the proposed solution is the efficient interaction of various management and monitoring tools. Furthermore, we consider the role that modern artificial-intelligence-based assistance systems can play in interdisciplinary knowledge provision. An insight into current research is provided. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: digitalisation; RE and FM; computer networks; network facility management (NFM); network management systems (NMS); CAFM/IWMS; cyber security

This paper examines the transformative role of artificial intelligence (AI) in corporate real estate (CRE) portfolio management, highlighting how AI is revolutionising traditional processes across valuation, investment analysis, risk management and operational decision making. By integrating technologies such as machine learning, natural language processing, computer vision and predictive analytics, AI enables real estate professionals to transition from intuition-based strategies to data-driven, proactive decision making. The interdisciplinary nature of AI — blending data science, finance, urban planning, engineering and sustainability — enhances CRE performance by combining real estate expertise with advanced analytics and real-time insights. Applications discussed include automated valuation models (AVMs), AI-powered due diligence tools, predictive risk systems and climate risk assessments. The paper also explores future developments involving deep learning, Internet of Things (IoT), blockchain and edge computing, illustrating how these converging technologies will further reshape the CRE landscape. While challenges around data fragmentation, compliance and organisational culture persist, the paper suggests an action plan to guide effective AI adoption, positioning it as a critical driver of long-term innovation and competitive advantage. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: artificial intelligence (AI); machine learning; predictive analytics; natural language processing (NLP); automated valuation models (AVMs); AI-driven decision making; AI-powered risk assessment; AI-integration; AI-powered risk assessment; ReTech; FinTech; PropTech

This paper explores the evolving metrics used to measure the value of the workplace and corporate real estate (CRE) to enterprises employing tech-enabled professionals. Traditional metrics, such as desk utilisation, are no longer relevant in the hybrid work environment. Instead, a combination of qualitative and quantitative metrics is proposed to provide a comprehensive understanding of workplace value. Quantitative metrics, such as overall utilisation and peak utilisation, offer insights into space efficiency, while qualitative metrics, gathered through employee surveys, reveal the impact on employee experience and business outcomes. By integrating these metrics, CRE professionals can demonstrate the strategic value of real estate, support informed decision making and enhance employee satisfaction and productivity. The case study of Syneos Health’s Tokyo workplace illustrates the successful application of these metrics, highlighting significant improvements in employee experience and operational efficiency following the relocation and consolidation of office spaces. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: qualitative metrics; quantitative metrics; workplace; utilisation; employee experience

As the built environment accelerates towards net-zero targets, the role of embodied carbon in workplace design is gaining long overdue attention. This case study examines Grant Thornton (GT) UK’s London headquarters project at No.8 Finsbury Circus, a landmark in circular, low-carbon commercial real estate. The fit-out achieved a 79 per cent reduction in embodied carbon compared to typical industry baselines. This paper provides a deep dive into the strategy, life cycle modelling, material reuse, supply chain equity and post-occupancy impacts that made this achievement possible, along with actionable insights for other corporate occupiers and design teams seeking to replicate and scale embodied carbon reduction in their own portfolios. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: sustainability; decarbonisation; environmental; social; governance (ESG); workplace design

The commercial real estate sector has traditionally exhibited resistance to technological innovation, a stance shaped by entrenched profitability, fragmented ownership and the capital-intensive nature of assets. Yet evolving tenant expectations, environmental, social and governance mandates, cybersecurity imperatives and cost optimisation pressures have rendered digital transformation essential. This paper presents a case study of QuadReal Property Group’s transition from isolated pilot initiatives to a comprehensive, portfolio-wide digital platform. Through structured governance, disciplined change management and standardised practices, QuadReal developed the digital buildings framework: a holistic strategy integrating infrastructure, connectivity, data management, customer platforms and support functions. The analysis includes case studies of the passive optical network, the Integrated Building Management Platform and the QuadReal+ suite of tenant and resident applications. The findings demonstrate that embedding technology into organisational culture, supported by internal expertise, iterative learning and the ability to discontinue tools that do not meet operational requirements, is crucial for sustained asset performance and long-term value creation. Lessons on governance, technological resilience and strategic change management are discussed, offering guidance for real estate organisations seeking to overcome ‘pilot purgatory’ and achieve scalable digital transformation. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: digital buildings; corporate real estate; technology adoption; change management; environmental social and governance (ESG) performance; data governance; passive optical network (PON); PropTech; portfolio optimisation

The corporate real estate (CRE) sector faces an inflexion point driven by rising office attendance and fragmented workplace technologies. This paper analyses data from Eptura’s 2025 Workplace Index to evaluate technology-related operational challenges and offer strategic recommendations. Specifically, it explores the ‘technology paradox’, where excessive digital tools impede rather than improve decision making. The paper proposes actionable solutions: consolidating worktech platforms, deploying artificial intelligence (AI) for predictive and prescriptive applications and elevating digital workplace leadership roles. These approaches aim to enhance operational efficiency, reduce costs and align real estate strategy with evolving workforce dynamics. Key trends identified include increasing in-office mandates, underutilisation of AI and the emergence of cross-functional leadership. Findings offer CRE leaders’ practical pathways to improve agility, unlock strategic insights and enhance workplace resilience and adaptability. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: corporate real estate (CRE); workplace strategy; artificial intelligence (AI); office attendance; WorkTech integration; digital workplace leadership

This paper examines how the 2008 global financial crisis and the COVID-19 pandemic have reshaped the spatial, cultural and managerial foundations of work in the financial services sector. It focuses on the rise of hybrid work as a strategic response to these disruptions, analysing how leaders across banking, insurance, and FinTech have restructured workplaces to retain talent, foster engagement and maintain organisational cohesion. Grounded in anthropological and sociological approaches to work, the paper draws on comparative evidence from North America and Europe. It synthesises literature, workforce survey data and institutional case studies from 2020 to 2024. The findings reveal that hybrid work now functions as both a symbolic and practical expression of a shifting organisational ethos. A model that demands flexibility, challenges norms of presenteeism, and redefines the role of the office. In this context, hybrid models mediate evolving relationships between labour, space and institutional identity, marking a cultural transformation that parallels technological change. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: hybrid work; financial services; organisational culture; post-pandemic workplace; talent retention; remote work policy; anthropology of work; flexible work models

As the contemporary world of work evolves, companies increasingly leverage office space transformations to enhance corporate value. These transformations are often more emotionally argued than evidence based. This results from a lack of practice-oriented methodologies that enable corporate real estate managers to consistently align the transformation contributions with corporate targets. This case study examines the impact of transitioning from traditional office layouts to activity-based working (ABW) environments, using a case study of a German IT company with approximately 6,000 employees across seven locations. The paper develops and applies a holistic added value framework to assess both the cost and benefit dimensions of workplace transformations. The framework proved its practical applicability in the context of the study, providing a consistent top-down alignment of value contributions. The findings indicate that ABW contributes positively to corporate performance, creating value on the cost and the benefit dimensions, when implemented from a value-oriented perspective. The application of a sharing ratio and a more efficient space utilisation are essential for greater cost efficiency. While corporate performance benefits arise predominantly at higher organisational levels regarding corporate identity, culture and employer attractiveness, positive contributions are also realised at the individual employee and workgroup levels. Conversely, drawbacks are evident regarding the organisation and execution of teamwork. This underscores the necessity for a comprehensive organisational transformation to accompany the redesign of the space, with the aim of adapting working and management styles to the new temporal and spatial flexibility. The findings provide insight into the potential value contributions that can be achieved through the adoption of ABW. In addition, practitioners are provided with a tool that is highly applicable in different corporate contexts for measuring their value contributions. Consequently, value contributions for the company become quantifiable, and proactive strategies can be formulated and communicated within the corporate context. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: added value; corporate real estate management (CREM); workplace transformation; activity-based working (ABW)

Corporate real estate (CRE) leaders operate at the intersection of business strategy, operational efficiency and, most importantly, financial stewardship. Their role extends far beyond managing physical spaces; they are instrumental in aligning all real estate decisions with the organisation’s long-term vision and performance goals. To succeed in this complex environment, particularly in the post-COVID-19 era, CRE professionals must collaborate with a diverse range of stakeholders, including C-suite executives who shape strategic direction, business unit (BU) leaders focused on functional outcomes, finance teams that scrutinise cost and investment decisions and facility managers and external service providers who are responsible for the day-to-day management of real estate assets. Navigating these relationships demands a deliberate and strategic approach to stakeholder management. It involves understanding and balancing often competing priorities, communicating the value of CRE initiatives clearly and building trust across all levels of the organisation. Stakeholder management is not merely a supporting function, but a core competency that influences the success of portfolio transformations, workplace strategies, capital investment and sustainability goals. This paper delves into the theories and practical applications of stakeholder engagement within the CRE context. It offers insights into identifying and prioritising stakeholders, managing diverse expectations and implementing structured engagement strategies that drive alignment between real estate actions and broader business objectives.
Keywords: executive influence; cross-functional teams; change management; leadership; corporate real estate (CRE) governance; stakeholder management; strategic alignment; organisation strategy

Decarbonising real estate has become a key priority for occupiers and landlords, driven by climate legislation, corporate net-zero targets and growing demand for low-carbon space. The cost and complexity of achieving emissions reduction at scale, require a shift from transactional landlord–tenant dynamics to ongoing collaboration. This paper begins by outlining the need for partnership and how green leases can form the basis for productive landlord–occupier engagement on decarbonisation strategies. It explores models for co-investment, data sharing and renewable energy procurement, drawing on examples from office, logistics and industrial assets to identify best practices for long-term cooperation, from pre-lease discussions to flexible lease structures. It concludes by considering the crucial role of policy in enabling decarbonisation and the importance of landlord–occupier partnerships to prepare buildings — and business models — for the regulatory and performance requirements of 2030 and beyond.
Keywords: landlord–occupier engagement; green leases; decarbonization; corporate real estate; transforming real estate; collaboration; future-proofing portfolios; sustainable assets; net zero carbon buildings

Observational studies involving over 330,000 room observations reveal a consistent mismatch between the size of rooms provided and the size of the groups that actually use them across all office buildings. This paper investigates the causes of this misalignment and presents a model for addressing it based on observational data and advanced modelling. To address this mismatch, a planning algorithm was developed that draws on observed usage patterns to determine the number and optimal size of meeting rooms required to meet the actual demand. The model provides a structured, evidence-based framework for aligning meeting room provision with real workplace behaviour, reducing spatial inefficiencies without compromising availability. Its application has demonstrated measurable reductions in total meeting room floor area, delivering financial savings while also contributing to more sustainable use of space and a lower overall footprint. Specifically, there has been a 51.6 per cent reduction in overall space use for meeting rooms.
Keywords: office planning; occupancy study; data-driven planning; right-sizing; office optimisation

As employees return to the office, either voluntarily or through enforced company mandates, it has become clear that their expectations have changed while they have been away. Now used to the convenience of working from home, people want greater flexibility from their offices and are not prepared to spend so much time engaging with their everyday workplace services. This paper serves to examine how modern workplaces can meet these expectations to create a more productive working environment. To build a more employee-focused workplace, organisations can rethink how spaces are designed and establish areas that prioritise employees. That means combining a hospitable welcome, accessible services, workspace variety and streamlined business enablement — underpinned and connected by cutting-edge technology — to create a work environment that equips employees with the tools and resources they need to achieve the productivity business leaders want to regain.
Keywords: workplace; office; transformation; technology; employees; experience

Ten years after the original publication of our virtual data rooms (VDRs) in the Corporate Real Estate Journal, this paper revisits the transformative role VDRs have played in real estate transactions. Initially leveraged for their secure document exchange and real-time collaboration capabilities, VDRs have since evolved into indispensable tools for real estate due diligence, particularly in complex, high-value deals. Over the past 10 years, VDRs have adapted to meet the demands of remote work, cybersecurity threats and the growing complexity of deal documentation. This paper analyses how modern VDRs address traditional due diligence challenges — such as managing high volumes of sensitive documentation under tight deadlines — and demonstrates how modern VDRs mitigate these issues through cloud scalability, intuitive interfaces and real-time collaboration. Readers will learn how to be better prepared to select, configure and manage VDRs to support secure, efficient and trustworthy real estate transactions, with insights tailored for both buy-side and sell-side processes.
Keywords: virtual data rooms (VDRs); real estate due diligence; secure document sharing

The traditional corporate real estate (CRE) model, anchored in fixed desks and centralised office spaces, is rapidly becoming obsolete. The rise of ‘liberated work’ — where location, time and mode of collaboration are no longer fixed — has reshaped the workspace expectations of knowledge workers globally. The COVID-19 pandemic accelerated this shift, demonstrating that the various tasks that contribute to ‘work’ are not necessarily tied to a physical office. As a result, organisations must rethink their approach to workspace design, prioritising flexibility, employee experience and hospitality-inspired service delivery. This paper explores the implications of this shift, arguing that CRE must adopt a hospitality-led experiential model to remain relevant. Employees now function as ‘employee-customers’ with heightened expectations for choice, convenience and well-being in their work environments. This necessitates a focus on human-centric design, personalised services and amenity-rich spaces that not only foster productivity and engagement but also act as an attractor for current and potential future employees. Key themes include: 1) the evolution of workspace demand: knowledge workers increasingly prioritise experiential environments that enhance collaboration, creativity and well-being over static desk-based office settings; 2) hospitality as a CRE blueprint: borrowing from the hospitality industry, workspaces should offer seamless experiences, premium services and adaptability to user needs; 3) technology as an enabler: smart building systems, AI-driven space utilisation and frictionless service delivery are essential to modern workspace strategy; 4) operational agility: CRE leaders must transition from rigid lease ‘set and forget’ models that focus on the creation of a fixed physical workspace setting at a point in time (typically at lease commencement) to dynamic, service-oriented solutions that cater to evolving workforce preferences; and 5) CRE and design metrics: the desk is dead as a CRE metric, and as a proxy for people. The ‘seat’ is a new metric not only for density, but it is in the ratio of different seat types and settings that the seat metric comes to life as a key measure of the strategic intent of the workspace and its readiness as a headquarters (HQs) Venue supporting liberated work. As the nature of work continues to evolve, businesses that embrace a hospitality-led approach will gain a competitive advantage, fostering workspace environments and experiences that attract and retain top talent while optimising real estate efficiency.
Keywords: hospitality-led design; liberated work; corporate real estate (CRE); workplace experience; hybrid work; headquarters (HQs) Venue

Sustainability is now a core business imperative in commercial real estate, driven by evolving regulations, disclosure requirements, rising operating expenses and market demand. With 30 jurisdictions representing 57 per cent of global gross domestic product (GDP) implementing International Sustainability Standards Board (ISSB)-aligned climate disclosure rules, transparency is becoming the norm.1 Green building standards and energy regulations are accelerating the shift to low-carbon, high-performance assets, with 96 per cent of real estate investment trusts (REITs) now disclosing sustainability data, up from 75 per cent in 2020. Investors and tenants favour sustainable, efficient and healthy properties, leading to higher rental premiums, lower vacancy rates and stronger asset values, while rising insurance costs and weather-related events highlight the need for resilience-focused retrofits. Regardless of political shifts, sustainability remains a financial and strategic necessity, ensuring cost savings, regulatory compliance and long-term value preservation and creation for proactive real estate leaders. There is an urgency to act now to understand commercial real estate firms’ sustainability performance and to embed sustainability-related risk management into core decision-making practices. Failing to do so means firms could fall behind, further exposing them to financial, regulatory and market threats, which could include owning assets that face obsolescence.
Keywords: sustainability; climate risk; climate disclosure; energy regulations; commercial real estate; building performance standards (BPS); business imperative

Over the past five years, there has been a significant transformation in workplace dynamics that many companies are finding difficult to navigate even today. The answer to the swift but sweeping shift to hybrid work has not been easy, as companies are still grappling with determining the best strategy and how to execute it. Cisco, a global leader in networking and technology solutions, considered the disruption an opportunity to re-evaluate its workplace practices and reimagine its real estate strategy into one driven by purpose. By looking inwardly at its own data — in the form of employee feedback and metrics from its smart workplace technology — Cisco focused on understanding how and why people choose to work in the office, addressing individual and team needs. As a result, the company reshaped its views on the purpose of physical space and began investing in its global portfolio to thoughtfully create spaces that are designed to enhance the hybrid experience and bring people together for a reason. Emphasising the importance of understanding organisational goals in addition to employee preferences and needs, Cisco created a classification framework that defined what each space is for, making it easy for employees to see the value of going to the office. While creating the magnet is one piece of the puzzle, ensuring the experience is memorable and meaningful is another. Leveraging data captured from its smart workplace solutions, Cisco is enhancing the employee workplace with environmental sustainability and employee wellness in mind. Through this journey, the discoveries around thoughtfully creating spaces with intention and utilising usage and other key data metrics to manage those spaces have driven a new workplace strategy capable of evolving with the needs of the business. The lessons Cisco learned and the new practices that ensued can prove valuable for any business once they too uncover their unique purpose for the workplace. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: technology; employee experience; sustainability; wellness; smart workplace technology; data

As organisations navigate the evolving demands of the modern workplace, the search for an optimal work environment that enhances productivity, collaboration and employee satisfaction remains a top priority. While activity-based working (ABW) has provided flexibility by allowing employees to choose workspaces based on tasks, its limitations — such as choice fatigue, lack of guidance and inefficiencies in space utilisation — have highlighted the need for a more structured approach. Using the results collected during a post-occupancy evaluation conducted 12 months after implementation at a global accounting firm’s 250,000ft2 corporate headquarters, this paper introduces intentional-based working (IBW), a refined model that builds on ABW by emphasising purposeful workspace design, outcome-driven decision making and strategic alignment between employees’ tasks and their work environments. IBW ensures that workspaces are intentionally designed to maximise both efficiency and effectiveness, balancing employee needs with organisational objectives. By leveraging data-driven insights, IBW fosters greater productivity, enhances employee engagement and aligns workplace design with business outcomes. This paper explores one company’s transition from ABW to IBW, outlining key principles, implementation strategies and measurable benefits. Real-world applications — including improvements in meeting room efficiency, focus spaces, time and space adjacencies and structured flexibility — demonstrate IBW’s impact on workplace optimisation. As the future of work demands greater agility and intentionality, IBW offers a sustainable and effective framework for organisations striving to enhance workplace performance. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: intentional-based working (IBW); activity-based working (ABW); workplace strategy; utilisation metrics; occupancy metrics; employee engagement

The promise of smart buildings — structures that dynamically respond to the needs of occupants while optimising energy consumption and operational efficiency — has long been on the horizon. Yet, the industry finds itself at a crossroads: ripe for disruption, but seemingly stuck in a state of inertia. While initial enthusiasm, driven by the COVID-19 pandemic and the rise of environmental, social and governance (ESG) initiatives, spurred innovation, recent shifts in workplace dynamics and potential policy changes are creating both opportunities and challenges. This paper explores the evolving landscape of smart building technology, examining the factors influencing its adoption, the transformative potential of software-as-a-service (SaaS) models and the disruptive force of agentic artificial intelligence (AI). Furthermore, it addresses the persistent hurdles related to data management, the imperative for an ecosystem approach to value creation and the crucial role of interoperability in realising the full potential of intelligent, adaptive buildings. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: smart buildings; software-as-a-service (SaaS); agentic artificial intelligence (AI); data; technology trends

Ernst & Young (EY) — a leading professional services firm — has a long history of outsourcing facilities management (FM) services. This paper provides a case study of how EY is piloting the Vested outsourcing methodology in its Nordic region. It provides an in-depth review of EY’s outsourcing evolution — including profiling how EY used a collaborative request for partner (RFPartner) process, followed by using the Vested methodology to create a formal relational contract with win-win outcome-based economics where EY and ISS (a global provider of workplace services) are both vested in each other’s success. This paper concludes by sharing their results and how the parties are continuing to evolve their partnership under their flexible contracting framework. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: outsourcing; Vested; Vested outsourcing; innovation; transformation; facilities management (FM); outcome-based; outcome-based outsourcing; alternative service delivery models

This paper addresses the evolving purpose of office spaces in the post-pandemic workplace landscape. As organisations grapple with questions about the role of physical workplaces in an era of proven remote productivity, a new framework is proposed to help redefine office purpose. The framework examines offices through dual perspectives: who they serve (individuals, teams and enterprises) and how they serve them (through functional and symbolic purposes). For individuals, offices must provide essential tools for productivity while connecting personal work to organisational mission. For teams, spaces should facilitate cohesion while symbolically reinforcing desired behaviours. At the enterprise level, offices create experiences that embody organisational values and purpose. Three specialised mindsets are introduced to implement this framework: a product mindset for individual needs, treating offices as continuously improving consumer products; a learning mindset for team needs, embracing experimentation and feedback; and a branding mindset for enterprise needs, creating emotional connections through physical environments. The paper traces how coworking spaces have ‘consumerised’ workplace expectations by integrating both ‘hardware’ (physical spaces) and ‘software’ (experiences, services). Post-pandemic workplace strategies have often overemphasised collaboration spaces at the expense of individual work areas, suggesting a need for more balanced approaches. Traditional workplace planning methods are identified as insufficient for today’s rapidly evolving needs. The analysis concludes that a successful workplace strategy requires cross-functional expertise spanning multiple disciplines, tools that integrate all three mindsets and a holistic perspective balancing individual productivity with team cohesion and organisational identity. As expectations for workplace experiences continue to rise, offices must evolve beyond being mere places to work into strategic assets that support productivity, collaboration and organisational culture. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: workplace strategy; hybrid work; office purpose; organisational culture; employee experience; workplace design

Digitalisation is not just about the application of technology, but also about business transformation enabled by digital technologies. In terms of digital transformation, there is still a significant backlog in real estate management (REM) and facility management (FM) that must be addressed. Digitalisation is changing not only the format in which information is held and processed, but also business processes and working methods. This gives rise to new concepts and methodologies, commonly referred to as digital transformation. REM and FM managers need to be aware of and understand the relevant digitalisation technologies that play an important role in the REM and FM sectors in order to take advantage of them. This paper aims to increase stakeholders’ digital awareness by explaining key digitalisation technologies in the context of their use in business. It does so by first providing an overview of the selected technologies and showing how they relate to each other, resulting in a technology matrix that categorises the business uses with regard to REM and FM managers, building users and operators. These digitalisation technologies are then explained and discussed in detail. This paper concludes by structuring the technologies, identified benefits and key implementation challenges within a digitalisation framework. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Keywords: digitalisation; digital transformation; real estate management (REM) and facility management (FM); computer-aided FM (CAFM); integrated workplace management system (IWMS); building information modelling (BIM); mobile and cloud computing; Internet of Things (IoT); augmented reality (AR); artificial intelligence (AI) and machine learning (ML); robotics; digital workplace; building simulation; cybersecurity