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Explore C-suite perspectives from Canada's leading real estate organizations on their outlook for four resilience pillars.
Canada’s real estate sector is facing interest rate volatility, reduced corporate office space utilization, portfolio downsizing and new ways of working. That’s in addition to an unprecedented technological revolution, including smart buildings, cleantech, digital twins, generative AI, machine learning and more.
At the same time, at $379.7 trillion, the global value of real estate is larger than global equity and the bond market combined. The impact of sustainability transition and physical risks on asset value, financing, insurance and liquidity will only increase.
EY research shows that today, 70% of boards feel that firms’ processes are not highly resilient. On top of this, ESG issues are at the top of real estate company boards and executives’ agendas.
As we face an era of unprecedented change, real estate firms need to adopt resilience practices to survive and thrive. Resilience is more than just planning for risks — it involves evolving financial strategy, business models and organizational culture, keeping pace with digital advancement and embedding sustainability in decision-making.
Through the Defining Resilience in Canada’s Real Estate Sector survey, we explored the perspectives of C-suite executives from Canada’s leading real estate organizations on the medium- to long-term outlook for resilience in four foundational areas:
- Physical assets and sustainability
- Technological and digital
- Financial
- Workforce
Summary
Enterprise resilience is not dependent on a single factor. Rather, it involves an organization’s ability to integrate and address four core pillars collectively.
By conducting a rapid assessment to understand their physical asset, digital, financial and workforce resilience gaps, and by building a roadmap to address those gaps, Canada’s commercial real estate companies can position themselves to thrive today and for years to come.