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Global corporations in 2012 were for the most part anxious to avoid unnecessary expenditure, which discouraged some from moving offices and encouraged many of those who did relocate to push hard on rental negotiations. Subdued economic growth in the global economy encouraged more firms to change office requirements to become more space efficient in order to reduce costs. Practices taken up by firms include activity-based working and reducing desk space per employee. A move to fewer desks is being accompanied by a rise in alternative work areas like break-out areas, cafes and quiet rooms, as companies look for ways to attract best staff and improve work environment without excessive expenditure. With IT requirements increasing and firms conscious to have credible offices to meet clients in, office relocation is likely to rise up the corporate agenda.
Keywords: Global, Market, Region, Rent, Economy, Asia Pacific, Europe, North America, Middle East
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