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The ability to anticipate and ride (out) economic cycles is essential for any business, not least those in real estate and tourism, where the swings can be especially sharp. Now, following the pandemic, the flexibility and resilience required go beyond the cyclical. Markets changed, in some ways for the long haul.

Developed countries have seen a shift in demand for residential properties to more spacious homes away from the big cities. The impact in the commercial sector has been marked, as office workers increasingly prefer remote or hybrid working patterns. Lower footfall in employment centres has also hit hospitality venues as well as retailers – even as tourism and international travel rebounded. Tighter labour markets challenge each sector.

With the value of their commercial properties written down, owners and developers are re-sizing, re-balancing portfolios and mixed uses, providing extra amenities to woo employees, and shifting investment to satellite sites. Higher capital and building costs at a time of greater economic uncertainty raise the stakes.

There are many other risks and challenges – from cybersecurity and housing affordability to the unpredictability around regulation and ESG (environmental and social governance) matters. Regulators and even municipalities have begun to require transparency and benchmarking on energy use, carbon emissions and social impacts.

Sustainability is an increasingly serious and widespread concern too – whether for lessees or tourists. Companies’ resilience must extend to the climate as extreme weather events cause disruption and damage. We see resultant disputes embroiling multiple parties, including developers, building occupants and their insurers as well as designers, contractors and their professional advisers.

Our Real Estate and Tourism expert, consulting and advisory services

We are a world leader in risk mitigation and dispute resolution. Five years running Construction Expert Witness Firm of the Year, we are highly rated in both the Who’s Who Legal (WWL) Arbitration Analysis and the Global Arbitration Review – and also the largest accredited corporate provider of expert services with the Academy of Experts.

Commercial Damages & Valuation

Our tourism and real estate consultants produce robust assessments for the value of economic damages – from losses caused by late completion of offices and accommodation to the financial impacts of insured events. We can provide incisive support and advice at every stage of the dispute resolution cycle in a wider range of disputes including those involving joint ventures, shareholders, mergers, acquisitions, and assets, including the intangible. Not only that, we can support you with real estate expert witness testimony in court.

Forensic Technical Services

Our global team of specialists provide expert technical reports and witness services to the real estate, tourism and other sectors. HKA’s multidisciplinary experts include architects and chartered surveyors; mechanical, electrical and structural engineers; and other specialists who are also authorities in their fields – from fire safety to environmental consultancy, including climate performance.

Forensic Accounting & Investigations

We help counsel and clients navigate through cases of alleged fraud, misappropriations, bankruptcies, and regulatory violations. Drawing on deep industry experience and data analytics, HKA investigators detect accounting anomalies, trace funds and assets, and liaise with regulators, disentangling even the most complex cases to maximise recovery.

Some of our assignments require diverse but complementary skills that HKA can provide as a single, seamless and cost-effective service. This may involve experts in areas such as Disruption & Delay Analysis, Engineering & Construction Quantum, Claims Management, and Advisory consultancy on capital projects and controls.

Our Real Estate and Tourism experts

The breadth and depth of HKA expertise is trusted by lawyers and clients across the world.

We have carried out investigations and testified on every continent before courts, arbitration tribunals and regulatory boards, and various international forums.

Whatever the location, language, jurisdiction, or forum, we can provide an expert or team with industry experience and high-calibre skills to match the most challenging briefs.


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