APAC Office Fit Out Cost Guide

ASIA PACIFIC OFFICE FIT OUT COST GUIDE 2024

NORDEN, SINGAPORE

CREATING OFFICE VALUE

The fit out typology also needs to evolve. A greater proportion of space is being devoted to collaborative and wellbeing spaces, which has necessitated a reduction in individual workspaces. More importantly, the fit out of these spaces not only needs to support their intended uses, but also the individual differences in how employees use and experience the space. Environmental psychology, neurodiversity, and personality type, to name three factors, all need to be considered. Such an approach goes beyond Diversity, Equity and Inclusion (DEI) to also include Belonging, reflecting the growing expectations of work and the workplace.

Almost four years on from the “great work from home experiment” enforced by the pandemic in 2020, the debate around the return-to-office continues to be held. For the most part, levels of office occupancy and/or office attendance have been little changed over the past 18 months. Furthermore, focus on the optimum level of office attendance misses the wider issue at play. Rather, attention should turn towards the role of the office and maximising the value that it can bring. The data on the purpose of the office is clear and continue to be reinforced through ongoing analysis – the office provides a place for human connection be it through collaboration or socialisation. Further benefits are derived from creating balance by separating personal and work lives, while for some employees the office still provides better access to tools and resources

to enable focus work. These factors necessitate a change in mindset towards the fit out and overall experience and way of workings. Workplace experience needs to be enticing enough for people to make the investment to visit the office and compelling enough for people to repeat and return. Firstly, this means occupying the right building in the right location, with cost, talent (culture) and ESG (carbon) being the three main drivers in decision making. Frequently, though not exclusively, this means a flight to quality, with quality often inextricably linked with strong sustainability certification from a physical environment and wellbeing perspective, and central business district locations. Such locations and buildings attract a rental premium, often resulting in tenants occupying less space to keep rent cost increases neutral.

The workplace has transcended its traditional role as merely a space for work. It has become the ultimate destination where individuals achieve a balance of work, life, and play.

Carol Wong Total Workplace Lead Asia Pacific

CONSIDERATIONS FOR DESIGNING INCLUSIVE SPACES

X Doors/doorways X Car parking X Stairways X Lifts X Evacuation

WORKPLACE DRIVERS OF PRODUCTIVITY

X Technology X Meeting rooms X Workstations X Wayfinding

INCLUSIVE SPACES

X Bathrooms X Kitchens X Utility X Reception X First aid X Reset Room

Source: Experience per Square Foot TM ; Cushman & Wakefield

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Cushman & Wakefield