B2 – Upper Intermediate
As companies strive to do anything in their power to make hybrid setup work, it poses imminent consequences on the corporate real estate sector. Companies are now opting for more compact office spaces. As leases expire, this could leave many office buildings empty.
To cope with this new trend in real estate, mixed-use development could possibly be one solution.
Read the article about the impact of corporate downsizing on the real estate industry.
Vocabulary Questions:
- What does “retrofit” mean in business? “Not all vacant buildings can be updated to meet new market demands, nor retrofitted into residential units.” Use this term in a sentence.
- What does “gravitational pull” mean here, “As companies pay top dollar for quality, the gravitational pull to newer, higher-quality offices leaves behind a vacuum for lower-grade buildings.”? Use this phrase in a sentence.
- What does “to be on a cliff edge” mean, “Developers might be forced to the cliff edge to be creative, but they have around five years to prepare, mobilise and get ready for the future that’s coming.”? Use this idiom in a sentence.
Discussion Questions:
- What problem is being talked about in the article and what are some possible solutions?
- What might be some things businesses consider in selecting where to base their headquarters if they want to attract their staff to the office?
- What do you like the least and the most about your office?
- What are the benefits and drawbacks of mixed-use neighborhoods?
- Do you believe you will see multifunctional areas in your city/country more soon? Why or why not?