Aussie workers to prop up commercial property sector
By Cameron Micallef
01 February 2021
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1 minute read
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Australian workers returning to the office post-pandemic are likely to spur on the commercial property sector as well as help support Australia’s economic recovery, new research has shown.
Following a year of disruption caused by the COVID-19 pandemic, Australia’s largest owners and managers have declared they’re ready for workers to return post-summer break.
Property Council of Australia chief executive Ken Morrison highlighted that while businesses are changing their approach due to the pandemic, Australians returning to the office will spur economic growth.
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Both the Planning Institute of Australia and the Property Council of Australia voiced strong backing for the bill during the inquiry, which Steggall said had received about 6,200 submissions.
Simon O’Connor, the chief executive of the Responsible Investment Association Australasia, said policy uncertainty was risking a loss of billions of dollars in investment across multiple sectors.
The association has 350 members, including superannuation funds and investment managers, which collectively manage about $9tn of assets globally.
O’Connor said parliament should consider the bill, which was a “strong step” in creating the certainty for investors that would help unlock billions more in investment.