Post Webinar Summary Report

BOOQED webinar series: Real Estate Planning During and After

COVID-19
10am, May 15th 2020

About BOOQED

BOOQED is a venture-backed digital on-demand platform for booking flexible short-term workspaces
across Asia. It connects enterprises with unused business spaces to help optimize their real estate
needs, and provides other unique venues for individuals such as freelancers and traveling employees
to help meet their needs. As one of the leading property tech platforms, BOOQED's extensive
partners include Colliers International, JustCo, WeWork, Regus, The Executive Center, and many
more. Launched in 2016, it now has offices in Singapore, Hong Kong, and Mainland China, with
thousands of listings across Asia.

Speakers:

Bastiaan van Beijsterveldt is currently a Director within the Colliers Occupier Services team.
Bastiaan manages complex transaction projects for diverse global multinational companies with
their occupancy needs throughout APAC. Bastiaan’s expertise includes transaction management,
tenant representation, portfolio reviews and divestment analysis.

Yvonne Lim has been with The Executive Centre since 2008. She started in TEC as the Head of Sales
and within a few years had extended her leadership to manage Australia. With her multitude of
experience, Yvonne has been growing the company's South-East Asia portfolio since 2014, lending
her expertise to expand the company's footprint significantly.

Yves Luethi co-founded Talox, a lease management and workflow SaaS for commercial real estate
owners and managers. The software provides data analytics about deals and tenants – so with one
click of a button landlord teams can access critical portfolio information such as upcoming lease
expiries, average rental rates, building cash flows and deal statuses etc.

Moderator:

David Wong is the Co-founder / CEO of BOOQED. He is an experienced business developer,

entrepreneur and start-up veteran with substantial international experience in blue-chip companies
and new ventures in mobile entertainment, digital media and tech.
Key Takeaways:

1. Tenants are now looking for flexibility in lease terms

2. Landlords and building managers should implement increased safety measures in their
buildings to gain confidence from tenants
3. Technology in the real estate industry will play a huge role post-COVID19
4. Tenants appreciate proactiveness in communication by landlords and building management

What kind of trends do we see now in workspace industry?

Flex Space

1. Flex space operators have seen an increase in business continuity inquiries

2. Inquiries for 3 to 6-month leases have increased, compared to the standard 12 to 24-month
lease
3. There is more interest in private offices as opposed to coworking
4. Leasing activity slowed in March and April, but there is a clear rebound in activity in May

Tenant – Landlord Relations

1. Some disconnect between needs of tenants and landlords

Tenants are reconsidering lease terms for cost savings but landlords are looking to increase
rental activity
2. Tenants look at more factors when leasing a space
Short-term: Cost, contactless access, social distancing
Long-term: Did the work-from-home experiment work out? Bespoke or flexible office?
3. Tenants are assessing landlords’ profiles
4. How can landlords’ help tenants with addressing real estate needs with respect to cash flow

Technology

1. Plenty of innovation opportunities in the market

2. Leasing technology can be improved, as leasing teams now sift through tons of spreadsheets
3. Technology adoption in real estate has always been slow, and this might be a much-needed
push
4. Landlords are looking to manage leases and provide rent relief packages. This process can be
accelerated with technology

What are common questions and concerns from clients and tenants?

1. Survival and managing P&L

 2. What are landlords and building management doing for them now, and to encourage them
to return to the office?
3. Payment structures to assist tenants, though landlords are rigid with rent rebate
4. How to get rent relief

What should companies consider for their long-term real estate planning?

1. Flexibility – allowing them to scale up and down, or split teams into multiple locations
a. Considering flex-and-core for your portfolio
b. Adjusted lease agreements
c. Market conditions are volatile – at least have flexibility built into lease terms for the
next 12-24 months
d. Closely consider business plans and headcount into decision-making
2. Viability of social distancing within office space
3. Responsiveness of landlords to their needs (therefore it is essential for landlords to innovate
processes with technology, and accommodate tenants)
4. Individual employee performance with Work From Home
5. The influence of an office space on corporate identity

What can landlords and space operators do to improve tenant security and confidence in their
space?

1. Ensure compliance with government regulations on returning to the office

2. Increased disinfection activity in compact spaces with high foot traffic, such as elevators
3. Revise floor plans to encourage safe use of space (stickers on the floor as guidelines, etc.)
4. Temperature taking and use of contact tracing practices
5. Enable seamless tracking and registration of building entry with technology
6. Make executing contracts more efficient
7. Work closely with their tenants to give them flexibility with lease terms

What is the outlook for the workspace industry?

1. Companies will very likely still retain an office space to give employees a place for
collaboration and interaction
2. Flex space demand will continue to be strong, with companies preferring not to go into long-
term leases for now
3. It can be a win-win situation for landlords and tenants with ongoing dialogue and
cooperation between the two parties