“With COVID-19 changing market dynamics and tenant expectations, many existing buildings no longer yield the same value as before the pandemic,” says Andrew Macpherson, Head of Asset Development, JLL Asia Pacific. “To stay relevant, attract tenants and meet their evolving demands, landlords and investors alike are increasingly aware of the need to enhance their built assets, ranging from design improvements to extensive upgrades, and even repositioning or repurposing the entire property.” Furthermore, in older buildings’ energy and maintenance systems are often less efficient, leading to increased operating costs, making a strong case for investors and landlords to reconsider design and asset enhancement strategies for aging properties.