Construction World May 2023

PROPERTY

FIVE TRENDS INFLUENCING COMMERCIAL PROPERTY RENOVATIONS IN SA Commercial property renovations have become increasingly important in South Africa as landlords and facilities managers strive to provide modern and functional spaces for their tenants amid rising vacancy levels.

C alvin Vekates, CEO of the construction company Posch Group, says that as post-pandemic work trends continue to prove popular, creating flexible, adaptable, and technologically advanced spaces is more critical than ever. “To succeed in today’s ever-changing market conditions, it’s essential for property owners and managers to stay up to date with industry trends to ensure their spaces are relevant to the needs of existing and prospective tenants,” said Venkates. “Keeping abreast of what is coming allows commercial property owners to stay one step ahead in a market that has seen much change in recent years.” He reflects on five trends influencing commercial property Sustainable design is becoming increasingly important in commercial property renovations. This includes incorporating energy-efficient features, such as solar panels and LED lighting, and using environmentally friendly materials like recycled steel and concrete. Sustainable design benefits the environment and can save landlords money in the long run by reducing energy costs. Flexibility and Adaptability The pandemic has highlighted the need for flexibility and adaptability in commercial spaces. With remote work becoming more prevalent, landlords are rethinking how their buildings are used. This includes creating multifunctional spaces that can be easily adapted to different needs, such as hybrid workspaces that allow for in-person and remote work. Technology Integration Technology integration has become a priority in commercial renovations in South Africa. Sustainable Design

property renovations. This includes incorporating smart technology, such as automated lighting and temperature controls, and providing high-speed internet connectivity and advanced security systems. Tenants are looking for spaces that allow for seamless connectivity and enhanced productivity. Biophilic (Natural) Design Biophilic design incorporates natural elements, such as plants and natural light, into commercial spaces. This trend is rising in popularity as it has been shown to improve productivity, reduce stress, and enhance well-being. Biophilic design can improve indoor air quality and reduce energy costs by incorporating natural ventilation and lighting. Safety and Security South Africa’s high crime rate means that safety and security remain top priorities in commercial spaces. Security trends in commercial properties are constantly evolving, and managers should stay up to date on the latest developments. One direction that has become sought after in South Africa is using advanced security systems, such as biometric access control, video surveillance, and intrusion detection. These systems provide an extra layer of security and can deter criminal activity. By incorporating these trends into their renovations, landlords and facilities managers can create spaces that are not only functional and modern but also enhance the well-being and productivity of their tenants. “Trendy spaces importantly give landlords an advantage in an increasingly competitive office and industrial rental market. Prospective tenants impressed by a functional, beautiful space are more likely to sign up, and those who love their space are less likely to leave,” Venkates concludes. 

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