Berkeley Group to Incorporate More Green Spaces in Developments for Remote Workers, CEO Says

Berkeley Group to Incorporate More Green Spaces in Developments to Cater to Remote Working Trend

As the remote working trend continues to reshape the housing market, high-end British homebuilder Berkeley Group has announced plans to incorporate more green spaces in its developments. CEO Rob Perrins revealed that the company aims to meet the rising demand from buyers who prefer to work from home by providing ample community spaces and parks within their planned communities.

The UK’s housing sector has seen a significant boost, outperforming the wider real estate segment, thanks to government incentives and the growing interest in spacious properties suited for remote work. Despite pandemic-related restrictions impacting transaction levels in London, Berkeley Group reported a 3% increase in annual pre-tax profits, reaching 503.7 million pounds.

Although the company’s shares fell 2.4% in morning trade due to challenges in the capital city, Berkeley remains optimistic about the future. Enquiry levels in London have surpassed pre-pandemic levels, signaling a return of confidence to the housing market.

Unlike its counterparts, Berkeley focuses on the regeneration of brownfield sites, redeveloping land previously used for industrial purposes. The company is on track to deliver a 15% pre-tax return on equity, targeting annual profits of around 500 million pounds until the end of fiscal 2025.

Analysts from UBS noted that the increase in enquiry levels in London could indicate stronger pricing and better reservations in the future. As Berkeley Group adapts to the changing needs of buyers in a post-pandemic world, the incorporation of more green spaces in its developments could set a new standard for luxury homebuilders in the UK.