5 big questions real estate is asking in 2024

While office vacancy rates hit an all-time high, and housing shortages abound, investors and landlords are questioning what to do with buildings past their prime. Converting these spaces into apartments, life-science labs, luxury hotels, data centres or even vertical farms are becoming increasingly attractive options.

“With many buildings now out of date – if not yet out of use – and others simply failing to generate suitable yields, conversions are increasingly on the cards,” says Walid Goudiard, Head of Project and Development Services, EMEA.

He adds that as more repurposing projects are finished, developers are gaining valuable experience. Financing is also becoming more readily available.

“The environmental and social benefits are now clear, while future financial rewards are boosting investor confidence in the emerging business case for adaptive reuse strategies,” says Goudiard.