“Occupiers are increasingly wanting to create destination offices for their employees. ‘Destination’ means different things to different companies – it could be creating a hospitality feel, or more social spaces – but ultimately, it is about creating a ‘stickiness’ that makes people want to come to the office.”
Extended report format better reflects more complex client needs
In addition to fit out costs, the report showed larger percentage increases for reinstatement and retrofit costs, although it noted that these were off a much lower base than fit out costs.
The report also contained sections on sustainability, technology, procurement, and workplace strategy and change management to better assist clients considering a fit out. Gibson said the more comprehensive format would help clients as they navigated the increasing complexity of office fit outs post-pandemic.
“The office fit out process has taken on greater significance as occupiers look to their real estate to achieve their employee experience, sustainability, and diversity, equity and inclusion goals. “Real estatedecisions used to be made by only a handful of people within an organisation. Now we see a more collaborative approach across business functions, with more emphasis on employee needs. Our conversations with clients are now about human resources as much as they are about construction.”
Read the 2023 Asia Pacific Office Fit Out Cost Guide
Learn more about Cushman & Wakefield’s Project & Development Services
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 52,000 employees in over 400 offices and approximately 60 countries.
In 2022, the firm had revenue of $10.1 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services.
To learn more, visit cushmanwakefield.com or follow our LinkedIn page.
