We have developed a daily regulatory intelligence bulletin, powered by RegHub and Corlytics, which aims to provide a summary of regulatory developments relating to COVID-19. Deloitte Global research highlights impact of COVID-19 on working women and how employers can prevent a setback in achieving gender parity Press release Published December 1st, 2020 - 08:51 GMT The impact on proptechs varies by the type of products and services they provide. Deloitte’s futurists collaborated with Salesforce to develop four potential future scenarios to help leaders envision and prepare for the next normal, which are outlined in Deloitte’s The world remade by COVID-19: Planning scenarios for resilient leaders. Issues and challenges executives like you face as you connect a resilient world. A podcast by our professionals who share a sneak peek at life inside Deloitte. This includes, but is not limited to, financial market volatility and erosion, deteriorating credit, liquidity … How is the pandemic impacting tenants' businesses? View in article, Jonathan Berr, “COVID-19 is (probably) pushing down the value of commercial property,” Bisnow, April 1, 2020. For more detailed insights on regulations and potential benefits, please refer to Deloitte’s recent report, COVID-19 stimulus: A taxpayer guide. View in article, Pavan Lall, “Covid-19 impact: Private equity slows down, zooms in on portfolio companies,” Business Standard, March 30, 2020. Conducted online Sept. 9-15, it provides key insights into how COVID-19 is impacting the holiday season. Learn how to combat COVID-19 with resilience, Go straight to smart. This page brings together Global Deloitte insights to help businesses manage and mitigate the risk. Jim is a frequent speaker and instructor on industry and other technical subject matters at the national level with Deloitte. Deloitte | COVID-19 | Global Regulatory Intelligence Bulletin | Wednesday 6th May 2020. Get advice on the issues and challenges you face as you lead with resilience. View in article, PR Newswire, “Simon Property Group announces amended and extended $6.0 billion revolving credit facility and term loan,” March 16, 2020. Seven out of 10 participants who say they have experienced negative shifts in their routine as a result of COVID-19 believe their opportunities for advancement have decelerated. PCAOB Response to COVID-19 Web site. During his more than 30 years of experience, Jim has worked with public and private companies across many segments of the RE&C sector including REITs, and private equity companies. View in article, Scott Crowe, “COVID-19 and REIT cap rates,” Commercial Property Executive, March 18, 2020. Some investors could increase focus on more resilient assets, such as those supporting the digital economy. View in article, Deloitte, COVID-19 economic cases: Economic cases for resilient leaders 18–24 months, April 6, 2020. According to the research from Deloitte, 73% of organisations worldwide are now using automation technologies, up from 48% in 2019, as Covid-19 … To better understand these challenges, Deloitte Global conducted a … Compared to the epidemics, pandemics, and economic downturns over the last century, COVID-19 has been unique in its global reaction and reach. Prior to assuming the US RE sector leader role, he served as the head of Deloitte's Audit practice for the RE sector. Living in Dallas, Jim has been heavily engaged in several real estate and community organizations including The Real Estate Council and United Way of Metropolitan Dallas. When reviewing these scenarios, CRE company leaders should consider the following questions as they plan ahead: The authors, Surabhi Kejriwal and Saurabh Mahajan, wish to thank Katherine Feucht, Anthony Scalese, Jay Bhuta, Rima Pai, Alakshendra Singh, and many others who provided insights and perspectives in the development of this article. Even property touring activity has declined considerably in the current environment.11 For instance, US CRE transaction volume declined 27 percent year on year in March.12 In early April, most realtors reported a decline of over 30 percent in buyer traffic.13, Developers’ project timelines and cash flows are affected due to the slow pace of activity and a halt in certain types of construction, including new developments.14 A recent contractor survey revealed that more than one-half of US construction firm respondents halted or suspended projects and more than two-thirds experienced delays due to a shortage of materials and personal protective equipment.15 Project sites that are still active have to adhere to guidelines on social distancing and frequent cleansing of common areas and construction equipment.16 Further, the Fannie Mae Home Purchase Sentiment Index (HPSI) declined 11.7 percent in March to 80.8, its lowest level since December 2016, indicating a potential decline in new home sales.17. PCAOB Response to COVID-19 Web site. Email a customized link that shows your highlighted text. Millions of COVID vaccines are sitting unused in hospitals and elsewhere, putting the U.S. target for 20 million vaccinations this month in doubt. Simon Property Group announces amended and extended $6.0 billion revolving credit facility and term loan, Today’s hotel is tomorrow’s coronavirus hospital, Preparing your hotel for quarantine and social distancing during the coronavirus pandemic, Social distancing crushes retail, hotels, dining, Dallas-Fort Worth apartment complexes closing amenities, halting non-emergency maintenance, Why everyone in real estate is worried about force majeure, Everything is on the table as tenants and landlords talk about rent relief, Covid-19 News Bulletin: Assisted living Covid-19 cases exceed 700; occupancy dipped slightly before pandemic struck, Virus signals ‘watershed moment’ for property technology, Virtual tours prompt engagement during widespread isolation, AvidXchange research identifies gaps in business continuity planning for mission critical functions, US policy response to COVID-19 aims to set the stage for recovery, The US outbreak undermines the economic recovery. The S&P 500 and Russel 2000 declined by 13 percent and 29 percent year to date as of April 15.2 The US 10-year treasury yields declined by 127 bps to 0.6 percent over the same time period.3. FASB Response to COVID-19 Web site. Please enable JavaScript to view the site. At many companies, COVID-19 has situated CIOs and their digital teams at the forefront of organizational response and recovery. Get the Deloitte Insights app. Since the pandemic began, CRE companies have generally focused on addressing short-term liquidity issues, accessing and securing their facilities, maintaining tenant engagement, complying with governmental directives, and managing the virtual close of their financial information. Based on three economic scenarios laid out by the Deloitte Economists, the US real GDP growth could be -5 percent in a best or mild case scenario and -10 percent in the worst or severe case scenario in 2020 (figure 5).21. View in article, Johanson, “Today’s hotel is tomorrow’s coronavirus hospital.” View in article, Kim Bhasin and Edward Ludlow, “Social distancing crushes retail, hotels, dining,” Bloomberg, April 1, 2020. Go straight to smart with daily updates on your mobile device. View in article, Dan Kubacki, “How COVID-19 is affecting construction and renovations,” Hotel News Now, April 10, 2020. Deloitte: In Wake of COVID-19, 61% of Executives Now Focused on Transforming Work, Double Pre-Pandemic Levels ... the importance of real-time workforce insights and data as … Connect to relevant sector and geographical insights to help you build organizational resilience. The COVID-19 situation is complex and fast-moving, resulting in an extremely challenging environment to navigate. As a rule of thumb, the industry has historically lagged the broader economy by six months in terms of experiencing the effects. While the COVID-19 pandemic has shifted government focus temporarily, these trends … Technology leaders can draw on a range of emerging technologies and capabilities to help shape the “next normal” and enable future readiness and resilience. Explore geographical insights to help you address local business challenges. This daily regulatory intelligence bulletin, powered by RegHub and Corlytics, aims to provide a summary of regulatory developments relating to COVID-19. has been removed, An Article Titled COVID-19 implications for commercial real estate Over the past century, external shocks such as an epidemic or a pandemic followed by an economic downturn have had an immediate to short-term impact on commercial real estate (CRE) asset prices, but minimal influence on transaction activity. Jim has extensive experience in initial public offerings, private placements, and SEC filings, as well as advising clients in all aspects of mergers, acquisitions, divestitures, and due diligence activities. has been saved, COVID-19 implications for commercial real estate to receive more business insights, analysis, and perspectives from Deloitte Insights, Telecommunications, Media & Entertainment, The heart of resilient leadership: Responding to COVID-19, The world remade by COVID-19: Planning scenarios for resilient leaders, Stay of execution: COVID-19 has hotel CMBS backed into a corner, Manhattan office leasing just had its worst quarter since 2013, COVID-19 is (probably) pushing down the value of commercial property, Commercial real estate could be in trouble, even after COVID-19 is over, How COVID-19 is affecting construction and renovations, Podcast: US construction bears impact of pandemic, More Americans express concern about losing their job, latest HPSI results show, Covid-19 impact: Private equity slows down, zooms in on portfolio companies. This was because trade activities and occupiers’ businesses were shut down (figure 3). View in article, Lisa Rabasca Roepe, “Will COVID-19 be the death of coworking spaces?,” Marketplace, April 3, 2020. See Terms of Use for more information. Taking action against systemic bias, racism, and unequal treatment, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. already exists in Saved items. Emerging from the initial disruption sparked by the COVID-19 pandemic, many organizations are taking a fresh look at how they manage third parties ... the CIO’s role has become even more critical in the age of COVID-19. The Deloitte Center for Financial Services, which supports the organization’s US Financial Services practice, provides insight and research to assist senior-level decision makers within banks, capital markets firms, investment managers, insurance carriers, and real estate organizations. Further, the federal government passed the CARES Act to boost cash flows and liquidity. Deloitte’s Strategic Sensing and Insight Services help clients make sense of the noisy and confusing world in which they operate to understand and anticipate important changes that prompt them to revisit their growth and value creation strategies, make new strategic choices, and/or execute important strategic moves. According to the World Health Organization (WHO), rapid testing of patients who meet the suspected case definition for COVID-19 is a priority for determining the clinical management and policy response to control the outbreak.