Working from home an opportunity for property groups suggests UBS

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Concerns about working from home are being overplayed and listed property companies set for a rally, according to UBS. The broker has upped its price targets for seven London-listed REITS, including giants () PLC () and () PLC () as it says that those property groups with the best sites and a skillset to redevelop can thrive. Views about the impact of working from home still remain mixed. Only yesterday, Sir Howard Davies, the chairman of () PLC (), said Central London would never recover to how it was before Covid-19 due to the growth in home working. In contrast to US banks that are insisting staff come back to the office, UK banks are scaling back their office requirements, he said. "We are looking at having a minimum expectation of a few days a month where people will definitely have to be in the office, and then it will vary by teams, but I suspect there won’t be many people doing five long days in the office," Sir Howard told Bloomberg. Bruce Carnegie-Brown,
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