Axa gears to buy office space worth €800m in European cities
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Axa Investment Managers, the French fund house, is not too worried about predictions that the post-pandemic world will see more people working from home and office real estates shrinking. Going contrary to these predictions, it is investing nearly €800m (£692m) on a revival in demand for office working after the pandemic subsides, according to a report.
Axa IM Alts has raised
€799m to invest in office spaces all over Europe, including in the UK, German and French cities.
The company wants to develop “high quality, flexible office space aligned with future working habits”. It believes that green offices with zero to no carbon footprints are the future of the world. Its plan definitely sees the revolution in working habits as a passing phase and does not believe big office spaces will become redundant.