RCP was proud to sponsor the Property Council of Australia’s live streamed event on Friday 3rd April.
Industry leaders Ken Morrison (Chief Executive Property Council Australia), David Harrison (CEO Charter Hall), Carmel Hourigan (Global Head of Real Estate AMP Capital Investors) and Stephen Conry (CEO JLL), shared their insights on how they are working through challenges posed by the immediate and rapidly changing environment and their optimistic views on the recovery from the COVID-19 crisis by the property industry.
It was evident that the current environment is undeniably one of the most challenging each leader has ever faced. Each panel member has had to implement strategies and policies to adjust to the rapidly changing environment. Communication has increased significantly amongst employees and importantly with their clients and investors to gain knowledge of their current industry environment.
At the same time, with increasing numbers of employees working from home, the wellbeing of their employees has become an increasingly important consideration.
Each panel member shared an optimistic view when addressing how the property industry and the economy would recover from the COVID-19 pandemic. They considered that Australia should be in a better position to recover economically than other countries, due to the mature market with commodities, agriculture and exports of natural resources. While emphasizing the need to remain agile, display leadership and quickly respond to the changing environment they believed Australian resilience and preparedness to confront difficulties would contribute to the recovery.
It was suggested that some beneficial changes may come as a result of the crisis including a higher demand for onshore manufacturing, infrastructure expenditure and projects, more secure supply lines and domestic travel, which will boost employment noting that Australia will also be viewed as a desirable place for foreign investment in the future.