Bloomberg Businessweek JLL CEO Ulbrich on the Global Commercial Real Estate Landscape
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Sep 11, 2025 Christian Ulbrich, the CEO of JLL, shares insights on the global commercial real estate landscape, noting a strong recovery in office leasing activity. He highlights the impact of demand for quality office spaces and how companies are navigating changes post-pandemic. The discussion delves into the influence of AI on workplace needs and the potential effects of Federal Reserve rate cuts on property investments. Additionally, immigration policies and labor shortages are explored regarding their implications for U.S. manufacturing and housing markets.
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U.S. Outperforms Peers
- The U.S. commercial real estate market is improving and outperforms other mature Western economies.
- That relative strength makes the U.S. especially attractive for international investors.
Office Demand Rebounding
- Large corporates are pushing for employees to return, boosting demand for high-quality offices.
- Because demand recovered from a low base, the office sector still has significant runway.
AI's Effect On Office Still Unclear
- AI's long-term impact on office footprints remains uncertain and is still early to judge.
- For now AI coincides with heavy U.S. investment and hiring in tech, not immediate space reductions.