APAC Office Fit Out Cost Guide 2023

ASIA PACIFIC OFFICE FIT OUT COST GUIDE 2023

SUSTAINABILITY

Sustainability has risen to the forefront of corporate thinking across practically every aspect of operations. For some corporate occupiers, especially in the manufacturing sector, their real estate portfolio may represent a comparatively small component of their total carbon footprint, while for professional service providers it’s usually much higher. Regardless, a return to basic principles: reduce-reuse-recycle should prevail. Despite many markets across Asia Pacific having comparatively youthful Central Business Districts (CBDs) and therefore modern buildings that adopt the latest design concepts, with the notable exception of Singapore and Australia, the region lags in not only building accreditation but also space accreditation. As multinational companies, especially those headquartered in the U.S. and Europe continue to expand across the region, they will increasingly seek out space that has been independently verified to meet their stated sustainability requirements and so contribute to their wider corporate goals. Aside from targeting higher quality, more efficient buildings, there is an abundance of opportunities that can be pursued. Maximising natural light to minimise artificial lighting, using environmentally friendly materials for flooring, partitioning and furniture, introducing biophilia into the design, sourcing renewable energy providers, and adopting waste reduction measures are but a few. Intelligent space booking systems and sensors can also close off unrequired space to minimise heating, ventilation and air-conditioning (HVAC) and lighting requirements at times of low occupancy.

C&W Services Singapore Office

WORKPLACE STRATEGY & CHANGE MANAGEMENT

It is widely appreciated that the role of the office is changing. The common approach is to occupy a higher quality, but smaller amount of space that then has flexibility built into the fit out and then leveraging building amenities to enhance employee experience. This not only helps with achieving sustainability and wellness targets, but also helps minimise operational expenditure increases. Proprietary data from Cushman & Wakefield’s bespoke workplace strategy tool, Experience per Square Foot TM , has shown that the role of the office is increasingly focused on collaboration, innovation and social connection. However, at the same time employers should not ignore that focused work continues to be done in the office, which for most employees is still approximately half of their working day.

This means the office needs to remain a dynamic environment, which is most readily seen through creating multi-functional spaces, such as using modular & flexible furniture to allow a variety of layout configurations that best fit the different activities, as well as implementing digital booking systems to secure collaborative or quiet spaces. Occupiers at the leading edge are making this shift through a combined approach of updated workplace policies, innovative office design, and thoughtful change management programmes.

Cushman & Wakefield Hyderabad Office

It is pivotal to recognise that the move to hybrid, or flexible, working requires a fundamental shift in understanding how work is done, not just where it is done.

Employee wellness and environmental sustainability are incredibly symbiotic and so positive outcomes from both should not be viewed in isolation.

Carol Wong Total Workplace Lead Asia Pacific

Matthew Clifford Head of Sustainability & ESG Asia Pacific

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Cushman & Wakefield