Neither rents nor cap rates have fallen by much for office buildings in major gateway markets.
While the timeline for a post-pandemic recovery in the office sector remains unclear, many companies do plan to fully return to the office. However, many tenants also plan to redesign their office spaces, either downsizing or enlarging them to fit their future needs.
Some firms are expected to increase the amount of office space they hold post-pandemic, according to Nancy Muscatello, managing consultant at data firm CoStar Advisory Services, who adds that the biggest disruption in space utilization will likely occur in crowded urban gateway markets, where the most office space will be needed per capita. Counterbalancing this trend, these markets are also the most likely to see the greatest rates of remote working in the future due to congestion and a higher share of well-educated workers, who have more bargaining power with employers about work flexibility, Muscatello notes.
He said that members of the team included
Toyin Fayinka (Special Adviser to the Governor on Transportation); and
Olajide Oduyoye (General Manager, Lagos State Traffic Management Authority (LASTMA).
According to him, the team also includes
Sola Giwa (Senior Special Assistant, SSA, to the Governor on Central Business Districts); and
Ayodeji Laurent (SSA to the Governor on Political Security Intelligence).
“The Special Traffic Management and Enforcement Compliance Team is saddled with the responsibility of ensuring a seamless traffic management system specifically designed to restore sanity in and around Apapa.
“They are to create a cohesive system that would aid the resurgence of business activities and ensure that residents live in a conducive environment devoid of traffic-induced stress, he said.
Ejiofor Alike
In line with the COVID-19 Health Protection Regulations, 2021 signed last week by President Muhammadu Buhari, Lagos State Governor, Mr, Babjide Sanwo-Olu has made it mandatory for residents to wear face masks or face six months jail term.
This came on a day Sanwo-Olu announced the approval of N200 million to support the ongoing COVID-19 patient management and treatment efforts of two federal government Treatment Centres in the state.
The governor stated this yesterday while addressing State House Correspondents on COVID-19 update in the state at Lagos House, Marina.
This is coming as the governor has approved the constitution of a Special Traffic Management and Enforcement Compliance Team to resolve the traffic gridlock in and around Apapa.
Apapa gridlock: Sanwo-Olu constitutes special traffic management, enforcement team tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.
Zero tolerance: Sanwo-Olu sets up special traffic enforcement team on Apapa gridlock
On
By Olasunkanmi Akoni
Lagos State Governor, Mr Babajide Sanwo-Olu has approved the constitution of a Special Traffic Management and Enforcement Compliance Team to resolve the traffic gridlock in and around Apapa.
The measure has become necessary following the resurgence of gridlock along Oshodi-Apapa Expressway and environ.
Members of the team are Toyin Fayinka, Special Adviser to the Governor on Transportation, Engr. Olajide Oduyoye, General Manager, Lagos State Traffic Management Authority, LASTMA, Sola Giwa, Senior Special Assistant, SSA, to the Governor on Central Business Districts, and Ayodeji Laurent, SSA to the Governor on Political Security Intelligence.