What does the future of the real estate sector look like for Luis López Herrera-Oria?

Throughout all your years in the real estate sector, you have had to weather many a storm (2008 financial crisis and more recently the Covid pandemic). What have you learnt from them and how would this help you face any potential new crisis in the future?

Throughout these years in the real estate sector, we’ve learnt to adapt to the market’s needs. The 2008 property crash taught us the importance of resilience and efficient resource management. The pandemic underlined the need to make health and well-being a priority when designing our spaces.

Since 2020, major companies have been actively seeking more attractive and inspiring spaces that will help them retain talent. At Árima, we have always been focused on providing added value, creating offices that foster talent and that make working from the office a more attractive proposition than working from home.

The lessons learnt better equip us to face any future time of crisis with a proactive and flexible mindset, ready to offer solutions that are tailored to whatever the new reality may be.

From being at the helm of Prima during the 80s and 90s, to creating Axiare and now Árima. There are few people better qualified to understand how the sector has evolved over the years and the challenges that its has faced along the way. How has the way in which the sector has changed shaped your strategic decisions?

Many years of experience has taught us to step back and look at the bigger picture when forecasting cycles, to adopt a cautious stance when necessary, and to act decisively and with determination when circumstances allow.

The cycles tend to be long in this sector, meaning an ability to get ahead of the curve and a good dose of patience are the basic prerequisites of a successful decision-making process.

There is a great awareness today of the responsibility to create a built environment designed for both people and planet. Is this a fleeting trend or something that is here to stay?

This trend is here to stay and is fast-becoming the norm – a sign of a long-lasting shift in the priorities of the real estate sector and society in general.

Environmental sustainability and people’s well-being have always been a fundamental part of our team’s DNA, and values that have always set our projects apart – from the very early days in Prima right through to Axiare and now Árima. Projects such as Manuel de Falla, Habana and Botanic are prime examples of our deep-rooted commitment to sustainability and the well-being of our tenants.

What are the biggest challenges that the sector will face over the coming years?

One of the issues that larger firms are most concerned about is the ability to attract and retain talent. Our main challenge is to create office spaces that will help our clients do just that. Designing welcoming spaces that encourage collaborative working and drive creativity have a direct impact not just on people’s well-being, but also on a team’s productivity and quality of work.

What will Árima’s best building look like in 20 years time?

The various crises that our sector has overcome in the past have shown that any situation as we know it can change at the drop of a hat, and we must therefore always be observant and ready to act. We have proven our ability to explore new frontiers, get ahead of the curve and lead from the front, always ensuring flexibility in our approach and incorporating the latest technology.

How has the relationship with tenants evolved over the years? Where are we headed?

Just as society has changed, the way in which we interact with tenants has also evolved over the years. Previously, the relationship was largely centred on rigid leasing terms that were signed as part of a business transaction. Over time, this has shifted, moving towards a more collaborative model. Today, tenants look for leases that offer greater flexibility, sustainable solutions and workspaces designed to drive creativity and well-being.

And, as we continue to look ahead, the tenant relationship will continue to evolve, moving towards a model increasingly focused on their ever-changing needs and aspirations. Technology, sustainability and flexibility will all play a central role. We are moving towards a future in which tenant relationships will be more collaborative and tailored to meet individual needs, and in which creating shared value will be the cornerstone of mutual success.

Looking back, what is the proudest achievement of your career in the sector?

When I look back, I feel proud of everything I have achieved. I have had the privilege of heading up projects alongside a fantastic team that has allowed me to grow and inspired me to find innovative solutions that could lead the way in the real estate sector. A clear example is our flagship project, Botanic, which highlights our commitment to sustainability and the well-being of our tenants. Part of this building’s cutting-edge design includes a spectacular botanical garden, offering a space that is not only unique in Spain, but the only one of its kind in Europe.

In your opinion, what does CBRE bring to the real estate sector? What do you value most about the company?

With its long-standing track record in the sector and the unparalleled expertise it brings to the table, CBRE is a leading force in the real estate sector. Its exceptional insight allows it to get ahead of market trends and offer a level of strategic guidance that is unrivalled in its field – a clear example of why it is the leading global real estate company. I particularly value their commitment to sustainability and technology, areas that are critical for anyone looking to succeed today. CBRE is without doubt the perfect example of a model that works in today’s real estate market.

What was it about this sector that first attracted you to it and that has led you dedicate so many years of your life to it? How has working in real estate helped you in your personal and professional life?

This sector has given me the opportunity to both grow and continually become a better version of myself, and to never stop learning. The transformation of the sector over the years and the way in which we have been able to adapt to the new realities has shown us the extent to which we are able to learn and change. Each obstacle which we have faced has made us stronger and allowed us to overcome new challenges, both on a personal and professional level. The lessons we have learnt along the way can be applied to any walk of life, enhancing a great number of skills and strengthening our resilience. What’s more, I have an excellent team by my side and one that I consider family. Having the opportunity to work alongside such dedicated, talented and conscientious people has been one of the greatest gifts of my career.