APAC Office Fit Out Cost Guide

ASIA PACIFIC OFFICE FIT OUT COST GUIDE 2024

HOW DO WE CLASSIFY FIT OUTS?

NAVIGATING THE COMPLEXITY Corporate occupiers are currently having to navigate an office sector undergoing significant structural change at the same time as the global economy is encountering cyclical headwinds. Add in the need to factor

The office fit out plays an important role in all these areas by creating an environment in which employees can be at their most productive, innovate and connect with colleagues, while simultaneously creating value and helping achieve corporate sustainability and inclusiveness goals.

BASIC HYBRID

1 2 3 10

X One-to-one assigned workstations supplemented with additional spaces for group work X Some flexibility to address post-pandemic work styles X Support functions limited to basic pantry area, generic meeting rooms and limited drop-in collaborative spaces

in underlying market cycles and it is easy to appreciate why many believe the current environment has never been more complex. Without diminishing the scale of these issues, they can be summarised across three categories: Cost, Carbon and Culture.

COLLABORATIVE HYBRID

OFFICE PRODUCTIVITY BOOST FOR THOSE WITH LOW WELLBEING

X Mixture of one-to-one assigned workstations with zones of non-assigned work-points X Flexible working practices have been adopted post-pandemic X Support functions include an expanded break-out area, a variety of meeting rooms and dispersed collaborative spaces X More than 50% of the space is allocated to dedicated workstations

Employees reporting low Wellbeing* report higher Creativity/Innovation and the ability to do their best work when in the office.

I can do my best work

I can be creative / innovative

100%

90%

86%

80%

70%

83%

73%

71%

points +13

points +11

Percentage

Percentage

60%

50%

40%

30%

ADVANCED HYBRID

31%

35%

20%

20%

% AGREEMENT

22%

10% % AGREEMENT

0%

High Wellbeing

Low Wellbeing

High Wellbeing

Low Wellbeing

X Post-pandemic destination office with more than 50% non-assigned workstations and work-points X Heavily tech-enabled spaces with frictionless audio-visual connectivity X Support functions include multi-functional break-out area, a variety of meeting rooms, dispersed collaborative spaces augmented with specialist lifestyle elements such as a library, focus and relaxation zones X Client facing areas have a hospitality look and feel

-10%

Remote

Office

Remote Office

* High Wellbeing includes survey respondents who reported “Good,” “Very Good,” or “Excellent” wellbeing. Low Wellbeing includes survey respondents who reported “Poor,” “Very Poor,” or “Terrible” wellbeing. Remote includes those who come into the office 3 or less days per month. Office includes those who come into the office 3+ days per week.

Source: Cushman & Wakefield Experience Per Square Foot™ survey, results from January 1, 2021 – December 31, 2022

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Cushman & Wakefield