Part 6/8:
Moreover, ambitious projects such as the proposed Google landings scheduled for 2024, which aimed to establish a modern office building in Mountain View, have been put on hold. This shift reflects a broader trend in Silicon Valley, where substantial investments in commercial real estate are being reconsidered. Previous growth in commercial real estate has sharply declined since the pandemic as companies shift to remote and hybrid work models, reducing the need for physical office space.
There's speculation that Google could ultimately cancel several upcoming real estate projects, further signaling a cautious approach towards expansion in the current climate.