FIABCI-Ukraine continues with the column "Different opinion: FIABCI-Ukraine experts". This time around, we interviewed the General Director of the Management Company "Activitis" - Alena Galuta, who is a corporate member of FIABCI-Ukraine.
FIABCI: How do you think business will change in the field in which you are a specialist?
AG: The company manages commercial real estate, as well as manages elite and business class LCDs. It is currently difficult to find a business that is not under quarantine.
So the phrase "adapt or die" has never been so relevant.
Not the smartest or strongest players, but those who will be able to quickly adapt to new circumstances will go throught the quarantine with relatively small losses.
Real estate management companies are now negotiating and reviewing all existing contracts and agreements with tenants, looking for individual solutions. At Activitis, we have managed various problematic real estate objects and we know from our own experience how open communication can extinguish problems in time and help build loyal relationships. All management companies, which have not yet developed procedures for generating transparent and up-to-date reporting for owners and tenants (residents), now have the opportunity to find technological solutions to this issue.
FIABCI: Post-quarantine transformation: what do you think is the first to be transformed on the market and what is not affected at all and will continue to work in the same way as before the pandemic?
AG: One of the first areas that is likely to undergo major transformations is office real estate. Automatic door opening, coworking partitions, motion sensors and even special floor markings to keep the social distance - these are just a few changes to expect after the end of the pandemic.
The most resistant to the crisis are the logistic warehouses - due to growing demand from grocery, pharmaceutical retailers and players in the e-commerce market.
FIABCI: What advice as an expert of the real estate market of Ukraine can you give to foreign and local investors in Ukrainian real estate
AG: Despite the growing turnover of online trade, it will not be able to increase a significant share of retailers' turnover by the end of the year, so the demand for commercial premises after the pandemic will remain stable. Warehouse real estate is now experiencing a recovery in demand and is not the first year in the position of tenant.
Given this, there is no need to talk about stopping investment in commercial real estate, even in times of crisis.
FIABCI: What new business tools do you think specialists in your field need to learn?
AG: It seems that all the world's bloggers have already written about effective work in the new reality of stay-at-home, but this skill does not become less valuable. While we are in a state of uncertainty, the company's leaders and managers should pay special attention to communication with their employees. The same information can be presented and heard in different ways, and a barrier to remote work can only exacerbate misunderstandings.
We at the company regularly share news in messengers, and with the help of such programs as Trello, Zoom and the G Suite toolkit we effectively cooperate and keep in touch with colleagues.
For real estate owners and managers of management companies, the time has come to think about the introduction of technologies that will help support business processes, as well as form flexible solutions.