APAC-BFSI-Outlook-2017

DOWNTOWN REVIVAL

While global banks are retrenching, local and regional banks are expanding their footprint in prime districts in some financial centers in the region.

WHERE ARE BANKS GROWING?

Non-core locations have evolved into viable alternatives as rents are, on average, about 40-50% lower than in the CBD. Additionally, the combination of accessibility, vibrancy and the abundance of high quality o ce space in those locations, make them desirable destinations.

The banking, financial services and insurance (BFSI) sector to remain an important anchor in Asian financial centers, accounting for 25-30% of total o ce-using jobs. However, growth will be moderate. EMERGING SECTORS

OUTSOURCING

The BPO sector will generate another 100 msf of o ce space requirements in India and the Philippines through 2020, of which 30-40% will be attributed to banking-related o•shoring activities.

FINANCIAL WORKPLACE

As business norms have been relaxed, some BFSI companies are drawing inspiration from flexible workspaces,

co-working centers and incubators to attract talent and maximize the use of space. In financial centers, a focus for the major banks is flexibility, wellness, sustainability and technology.