The rapid rise of technology and the growth in sharing economy have changed the way people work and how companies execute their real estate strategy. Colliers International Asia-Pacific CEO David Hand highlights the top real estate trends that will impact occupiers, landlords and investors this year.
David Wong, CEO of BOOQED, lists five commercial real estate trends that will drive change in 2019 and beyond. BOOQED is a Hong Kong-based start-up that provides an online-based marketplace for unique and flexible spaces.
Global macroeconomic developments – such as lower growth in China and emerging signs of a slowdown in the US – will likely cloud the outlook for Asian property market, but there are still pockets of opportunities for investors and occupiers. Colliers International Asia-Pacific CEO David Hand shares his views on the bright spots and key markets to watch in 2019.
As businesses seek alternative solutions to augment traditional office space, they have started to look at flexible workspace centres in earnest. However, before occupiers plunge headlong into coworking spaces, they should assess if the flexible office option suits their business and operational requirements.
The Singapore office property market, which had a good run in 2018, looks set to continue to shine this year amid tight office supply and healthy occupier demand for prime office space in the Central Business District (CBD). Despite the growth momentum in the office property market, landlords remain watchful of supply and demand dynamics.
Much has been said about the demise of brick-and-mortar stores. To be clear, physical retail is far from dead. What is firmly buried six-foot under, however, is staid retail – boring, unimaginative and disengaging retail. The ability to adapt, create positive experiences, and develop a 360-degree view of the customer will help the retail sector weather the storm.
Rick Thomas, Executive Director, Corporate Solutions explains why many multinational corporations have turned to Corporate Solutions providers for help to manage their global or regional real estate portfolio.
Singapore has emerged as one of the top destinations for legal services firms, owing in part to its strong rule of law, as well as excellent human factors. The city state was ranked second – after Hong Kong and ahead of Tokyo - in Colliers International’s Top Locations in Asia: Law study.
Today’s workforce is highly mobile and a large proportion of them favour a more collaborative and flexible way of work. This trend has contributed to the boom in the flexible workspace sector – comprising serviced offices and coworking spaces - in the last few years. Agility is not just an industry buzzword. Amid a dynamic and uncertain global economic landscape, occupiers seek flexibility to directly correlate their headcount to real estate costs, shifting away from long-term, fixed contract.
A poorly executed fit-out project is not only disruptive to the business, but it can be very costly as well. Therefore, it is paramount that the business leaders – in consultation with a design and fit-out specialist – review their space needs and fit-out requirements thoroughly. Having a well-thought through and clearly articulated plan will pave the way to a smoother implementation process.
Colliers Review spoke with Mr. Rick Thomas, Executive Director, Corporate Solutions at Colliers International, to find out what are the key real estate trends that occupiers should look out for as they seek growth in Asia over the coming years.
Singapore has emerged as one of the top three locations in Asia for technology firms. It ranked second behind Bangalore and ahead of Shenzhen, according to a detailed study by Colliers International. Colliers editorial team spoke with Mr. Sushil Kumar, Senior Director APAC for Real Estate & Workplace and IT at VMware Singapore - who participated in a panel discussion to launch the report in September - for his views on how location impact talent attraction and retention.
If you are in the market for new office premises, know this: real estate is not just about physical space, it is also a key plank of your business strategy. Where your office is located, its size and whether it is future-proof will have a bearing on the organisation’s operational expenses, branding, growth plans and even talent acquisition programme.
Apart from its decorative function, research has found that art can boost productivity, spark ideas, reduce stress, and improve well-being, making it more relevant than ever in today’s offices – where employees typically spend a big part of their waking hours.
Getting a commercial lease tied down is a serious business. As real estate cost usually accounts for a substantial chunk of an organisation’s operational expenses – second-largest expenditure after payroll - the signing of a new lease really should not be left to chance.
Buildings of the future must be designed and customised with the needs of end-users in mind, taking into consideration the environment, health and wellness, as well as social equity.
In a rising office property sector, it will become increasingly challenging for occupiers in the Central Business District to secure attractive rentals. However, there are strategies that occupiers can adopt to make real estate work harder for less cost.
These two cases highlight the value of a valuer, whether in a break-up or “marriage” situation. In both cases, the valuer was jointly appointed by both parties – underlining the trust that they had in the valuer as an independent professional to come up with unbiased opinions.
Sick and tired of the daily grind? Chances are the office environment may have something to do with it. Most people would feel slightly ill if they are cooped up hours on end – day after day - in drab and enclosed work spaces, with poor air quality and harsh fluorescent lighting.
A disconnect may occur between the financial and ground operations, especially for companies with manufacturing facilities in other countries far from their incorporated headquarters.
Managing an office move can be time consuming and stressful, particularly if it does not form part of your main job scope. Perhaps you work for a growing company whose size does not yet justify real estate headcount; or maybe the company you work for has been in their space for so long, that no members of the real estate team have had to organise a relocation.
As the economic outlook turns a shade brighter, small and medium-sized enterprises (SMEs) are increasingly more optimistic about their business prospects. Some firms may be thinking about expansion or acquiring new equipment. At this juncture, it is critical that they have a good handle on the value of their assets, especially when they have manufacturing operations in different locations.
Every once a while, a new technology emerges with promises of widespread and far-reaching impact in the way people live and conduct business. Just as the steam engine helped to power the Industrial Revolution in the 18th century, blockchain technology could disrupt industries and revolutionise the world economy.
Technophobes and luddites out there would have you believe that livelihoods are under siege, taken apart progressively by the rapid advancement of new technologies, such as blockchain for example.
Corporate wellness programmes have come a long way. These days, they are a lot more holistic, leveraging on a wide variety of strategies including innovative use of space, flexible schedules, infusion of greenery and wearable technology to promote health and well-being among employees.
A decade or two ago it may all have sounded like science fiction – a robot for a receptionist, treadmill desks or a circadian lighting system that supports natural human rhythms by mimicking the colour, angle and intensity of sunlight throughout the day.
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