The entire real estate industry, and in particular the office sector, has been severely impacted by the crisis associated with the COVID-19 pandemic. However, this period of profound instability has only accelerated dynamics of change already underway. Now large companies are questioning themselves on how to face the workers' return to office phase, trying to implement new space management strategies, seeking a balance between maximizing productivity and compliance with current regulations to ensure the health of workers. The traditional office structure is now giving way to new flexible configurations, able to quickly adapt to sudden changes in the market dictated by the current instability we are experiencing. Challenged by the effects of organizational flexibility, tenants are increasingly seeking agility and operational efficiency in their physical office space and its layouts. Through space-use intensification, they aim to reduce their space requirements and create more collaborative, team and project-based work practices. Consequently, even the traditional contractual forms that regulate the relationship between landlords and tenants are moving towards new strategies capable of reducing the costs associated with a more flexible use of spaces, while maintaining the expected performance standards stable and ensuring spaces of work suitable to satisfy the needs of end-users. Within this framework, the concept of "space-as-a-service" is becoming more and more consolidated, with the establishment of collaborative and technological working environments. While the so-called "co-working space" model is becoming increasingly common, most of the largest corporations are still dealing with standard contracts, which bind them to the use of a determined amount of space for a duration of 6+6 years. Therefore, there is a need to figure out new contractual models that, on one hand, can better adapt to the flexible needs of corporate occupiers and, on the other, do not compromise the landlord's objectives. The primary objective of this thesis, thus, concerns the definition of an innovative contractual model linked to the management of buildings, capable of responding to the needs of large owners, managers and users, in a flexible and efficient way. This thesis, therefore, aims to tackle the following issues: Q1. Which are the trends that are currently characterizing the office sector? Q2. How will workspaces be shaped and organized in the future? Q3. Which workspace lease models are able to meet the new requirements of flexibility and resilience emerged during the COVID-19 pandemic? To answer these questions, this thesis will therefore start from a literature review of scientific articles and industry reports on the main trends that are characterizing the office sector, defining the main drivers, and focusing on the Italian reality, looking at the most dynamic markets in terms of real estate transactions, considering the cities of Milan and Rome. Consequently, the analysis will shift to the study of innovative contractual forms that can be exploited for the lease of offices. The methodology used to conduct the study mainly refers to the consultation of experts through interviews. Some of the main players in the market, were contacted in order to collect data on the needs and preferences of the end-users of workplaces. Based on a qualitative analysis of interview results, an innovative contractual model is drafted. It can adapt efficiently to the changes desired by users, referring to flexible service models inspired both from the real estate industry and from other sectors, with a view to an evolution towards Product-Service Systems (PSS) and pay-per-use strategies. The model considers a future evolution based on technologies as, for example, machine learning, able to reduce the period of inefficiency of the building system by monitoring occupational levels, thus avoiding irresponsible management and optimizing costs. The study will conclude with an outline of possible challenges and criticalities that may arise from the utilization of the new contract model, highlighting pros and cons with respect to traditional ones.
L'intero settore immobiliare, ed in particolare quello degli uffici, è stato gravemente colpito dalla crisi associata alla pandemia COVID-19. Tuttavia, questo periodo di profonda instabilità non ha fatto altro che accelerare alcune dinamiche di cambiamento già in atto. Oggi le grandi aziende si interrogano su come affrontare la fase di rientro in ufficio, cercando di attuare nuove strategie di gestione dello spazio, cercando un equilibrio tra la massimizzazione della produttività e il rispetto delle normative vigenti per garantire la salute dei lavoratori. La tradizionale struttura organizzativa degli uffici sta ora lasciando il posto a nuove configurazioni flessibili, in grado di adattarsi ai repentini cambiamenti del mercato dettati dall'attuale instabilità che stiamo vivendo. Spinti dal concetto di flessibilità organizzativa, i tenants sono sempre più alla ricerca di agilità ed efficienza operativa nei loro spazi di lavoro e nelle configurazioni spaziali. Attraverso un processo di intensificazione dell'utilizzo dello spazio, essi, infatti, mirano a ridurre la superficie occupata dai loro spazi di lavoro, spostandosi verso modelli collaborativi. Di conseguenza, anche le tradizionali forme contrattuali che regolano il rapporto tra locatore e locatario si stanno orientando verso nuove strategie capaci di ridurre i costi legati ad una più flessibile fruizione degli spazi, mantenendo stabili gli standard prestazionali attesi e garantendo spazi di lavoro idonei a soddisfare le esigenze degli utenti finali. In questo quadro si va sempre più consolidando il concetto di "space-as-a-service", con l'affermarsi di ambienti di lavoro collaborativi e tecnologici. Mentre il modello del cosiddetto “co-working space” sta diventando sempre più diffuso, la maggior parte delle grandi aziende ha ancora a che fare con contratti standard, che le vincolano all'utilizzo di una determinata quantità di spazio per una durata standard di 6+6 anni. C'è quindi la necessità di elaborare nuovi modelli contrattuali che, da un lato, si adattino meglio alle esigenze flessibili delle aziende occupanti e, dall'altro, non compromettano gli obiettivi del locatore. L’obiettivo primario di questa tesi, quindi, riguarda la definizione di un modello contrattuale innovativo legato alla gestione degli edifici, in grado di rispondere alle esigenze dei grandi proprietari, gestori e utenti, in modo flessibile ed efficiente. Questa tesi, pertanto, si propone di affrontare i seguenti temi: Q1. Quali sono le tendenze che stanno attualmente caratterizzando il settore degli uffici? Q2. Come saranno modellati e organizzati gli spazi di lavoro in futuro? Q3. Quali modelli di locazione degli spazi di lavoro sono in grado di soddisfare i nuovi requisiti di flessibilità e resilienza emersi durante la pandemia COVID- 19? Per rispondere a queste domande, questa tesi partirà quindi da una rassegna bibliografica di articoli scientifici e rapporti di settore sulle principali tendenze che stanno caratterizzando il settore degli uffici, definendone i principali driver, e focalizzandosi sulla realtà italiana, guardando ai mercati più dinamici in termini di operazioni immobiliari, considerando quindi le città di Milano e Roma. Di conseguenza, l'analisi si sposterà verso lo studio di forme contrattuali innovative che possano essere sfruttate per la locazione di uffici. La metodologia utilizzata per condurre lo studio si riferisce principalmente alla consultazione di esperti attraverso interviste. Alcuni dei principali attori del mercato, sono stati contattati per raccogliere dati sui bisogni e le preferenze degli utenti finali dei luoghi di lavoro. Sulla base di un'analisi qualitativa dei risultati delle interviste, è stato possibile definire un modello contrattuale innovativo. Esso è in grado di adattarsi efficacemente ai cambiamenti desiderati dagli utenti, facendo riferimento a modelli di servizio flessibili ispirati sia al settore immobiliare che ad altri settori, in un'ottica di evoluzione verso i sistemi Prodotto-Servizio (PSS) e strategie pay-per-use. Il modello considera un'evoluzione futura basata su tecnologie come, ad esempio, il machine learning, in grado di ridurre il periodo di inefficienza del sistema edilizio monitorando i livelli occupazionali, evitando così una gestione irresponsabile e ottimizzando i costi. Lo studio si concluderà con un profilo delle possibili sfide e criticità che possono sorgere dall'utilizzo del nuovo modello contrattuale, evidenziandone pro e contro rispetto a quelli tradizionali.
Proposal of a flexible contractual model for the management of office spaces : Flex and Core 2.0
Bortolato, Mattia
2020/2021
Abstract
The entire real estate industry, and in particular the office sector, has been severely impacted by the crisis associated with the COVID-19 pandemic. However, this period of profound instability has only accelerated dynamics of change already underway. Now large companies are questioning themselves on how to face the workers' return to office phase, trying to implement new space management strategies, seeking a balance between maximizing productivity and compliance with current regulations to ensure the health of workers. The traditional office structure is now giving way to new flexible configurations, able to quickly adapt to sudden changes in the market dictated by the current instability we are experiencing. Challenged by the effects of organizational flexibility, tenants are increasingly seeking agility and operational efficiency in their physical office space and its layouts. Through space-use intensification, they aim to reduce their space requirements and create more collaborative, team and project-based work practices. Consequently, even the traditional contractual forms that regulate the relationship between landlords and tenants are moving towards new strategies capable of reducing the costs associated with a more flexible use of spaces, while maintaining the expected performance standards stable and ensuring spaces of work suitable to satisfy the needs of end-users. Within this framework, the concept of "space-as-a-service" is becoming more and more consolidated, with the establishment of collaborative and technological working environments. While the so-called "co-working space" model is becoming increasingly common, most of the largest corporations are still dealing with standard contracts, which bind them to the use of a determined amount of space for a duration of 6+6 years. Therefore, there is a need to figure out new contractual models that, on one hand, can better adapt to the flexible needs of corporate occupiers and, on the other, do not compromise the landlord's objectives. The primary objective of this thesis, thus, concerns the definition of an innovative contractual model linked to the management of buildings, capable of responding to the needs of large owners, managers and users, in a flexible and efficient way. This thesis, therefore, aims to tackle the following issues: Q1. Which are the trends that are currently characterizing the office sector? Q2. How will workspaces be shaped and organized in the future? Q3. Which workspace lease models are able to meet the new requirements of flexibility and resilience emerged during the COVID-19 pandemic? To answer these questions, this thesis will therefore start from a literature review of scientific articles and industry reports on the main trends that are characterizing the office sector, defining the main drivers, and focusing on the Italian reality, looking at the most dynamic markets in terms of real estate transactions, considering the cities of Milan and Rome. Consequently, the analysis will shift to the study of innovative contractual forms that can be exploited for the lease of offices. The methodology used to conduct the study mainly refers to the consultation of experts through interviews. Some of the main players in the market, were contacted in order to collect data on the needs and preferences of the end-users of workplaces. Based on a qualitative analysis of interview results, an innovative contractual model is drafted. It can adapt efficiently to the changes desired by users, referring to flexible service models inspired both from the real estate industry and from other sectors, with a view to an evolution towards Product-Service Systems (PSS) and pay-per-use strategies. The model considers a future evolution based on technologies as, for example, machine learning, able to reduce the period of inefficiency of the building system by monitoring occupational levels, thus avoiding irresponsible management and optimizing costs. The study will conclude with an outline of possible challenges and criticalities that may arise from the utilization of the new contract model, highlighting pros and cons with respect to traditional ones.File | Dimensione | Formato | |
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https://hdl.handle.net/10589/177461