Leading into Q4, the Edmonton office market appeared to be taking a turn for the better, as vaccinations proved their effectiveness and COVID-19 cases throughout Alberta began to decrease. Office activity remained strong as businesses focused on re-instating their return-to-office plans for the new year. However, by the end of the quarter, these plans were largely postponed with the emergence of the Omicron variant and as case counts once again began to elevate.
Although return to office plans have been delayed, there is an understanding that a return to office, in some form or another, is imminent. As we move further into 2022, businesses will continue to make decisions regarding their office requirement in anticipation of their eventual return-to-office.
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