April 17, 2013
Abu Dhabi continues to create new offices, despite current oversupply
A new report from Jones Lang LaSalle into the property market in Abu Dhabi claims that although the Emirate is committed to investing in the development of new commercial property, there is already a serious oversupply of offices in the region. Vacancy rates already stand at over a third (37 per cent) with increases expected as new developments become available. Around 1 million sq. m. of new office space is set to be developed in Abu Dhabi between now and 2015, increasing the total commercial building stock by a quarter. The JLL report claims that this oversupply is suppressing rents. Grade A properties now yield about 40 per cent of what they did at their peak in the final quarter of 20008 while Grade B space also continues to see falls in its yield.
April 10, 2013
What the CIFF 2013 show taught us about workplaces in China
by Mark Eltringham • Comment, Flooring, Furniture, Workplace design
You can tell a lot about how we work by the things with which we choose to surround ourselves. That is why it always pays to keep an eye on the world’s major office products shows. So, while eyes are trained on Milan this week for the international furniture fair, John Sacks offers us a view from the world’s largest exhibition CIFF which took place late last month in Guangzhou. Ignore the show’s dreadful website, this was a vast and important exhibition which tells us much about in the world’s second largest economy. Over 900 companies exhibited at CIFF in a venue with over 210,000 sq. m. of floor space and more than 60,000 people were expected to visit. The report can be seen here.