April 27, 2024

European commercial real estate market stumbles in 2024

Dreams of a swift recovery in Europe’s commercial real estate market have been dashed as the first quarter of 2024 witnessed a continued slump, marking the seventh consecutive quarter of decline. That is according to data released by MSCI Real Assets which paints a concerning picture, with completed commercial property transactions reaching a mere €34.5 billion in the first three months – a 26 percent drop compared to the same period in 2023. This translates to the lowest transaction volume since the third quarter of 2010, with the number of companies buying and selling properties also hitting a 12-year low. More →

April 25, 2024

Office rent, costs and utilisation rates rise as firms focus on prime space

by Mark Eltringham • News, Property

Prime office rents in major cities around the world have risen 1.1 percent in the past year (Q1 2023 to Q1 2024) while tenants’ ‘all-in’ net effective costs (rent plus fit-out costs) have risen 2.4 percent, according to Savills, as the structural trend towards seeking high quality premium office space continues into 2024. More →

April 22, 2024

AI is not coming for your job. But it will make it better

by Barry Murphy • AI, Comment, Technology, Workplace

“Artificial intelligence will outsmart humans, resolve all IT and business problems, and humans will not be needed in the workforce!” These are some of the most common misconceptions that too many companies and workforces currently have around AI and automation. To date, workforces have been inclined to broach AI with apprehension due to concerns that it will negatively affect or eliminate their jobs. Conversations have skewed towards the technology as a disruptive force, here to steal jobs and ultimately leave people redundant. A study found that 60 percent of workers are concerned about job loss in regards to working with Gen AI. Additionally, a further third worried that, despite AI being unable to completely replace them, it could make them less useful in the workplace. More →

April 22, 2024

European and Asian cities dominate latest smart city rankings

by Marvin Gort • Cities, News, Technology

Zurich tops the 2024 Smart City Index, with European and Asian cities dominating the rankings. The report, released by the IMD World Competitiveness Center’s Smart City Observatory and the World Smart Sustainable Cities Organization (WeGO), analyses data and resident surveys from 142 cities globally. Seven of the top 10 smartest cities hail from Europe. These leading cities prioritize initiatives that improve residents’ quality of life, such as green spaces, cultural events, and social engagement. Additionally, they focus on attracting talent, fostering sustainable investments, and tackling inequality. More →

April 19, 2024

Most people want to work in jobs that have a positive impact on the world

by Jayne Smith • Environment, News, Workplace

A new poll from hiring platform Indeed suggests that people now consider working in jobs that positively impact society (57 percent) and the environment (55 percent) more important than they did when they started their careers. Just over a quarter (26 percent) say they would take a pay cut and 44 percent would consider retraining to enter the environmental sustainability sector. The survey of more than 1,000 workers and job seekers and 500 employers in the UK, highlights the ongoing green skills challenge. Despite the clear appetite for sustainability-related jobs among working people, 42 percent believe there are still too many barriers to entry. More than a quarter (27 percent) have been trying to transition to the sector but have been unsuccessful so far. More →

April 19, 2024

Green Building Council says Scotland has abandoned its role as a leader on climate

by Neil Franklin • Environment, News

The UK Green Building Council – which represents some of the UK’s biggest names in the built environment, including housebuilders, banks, social housing providers, local councils, developers, estates and engineering companies and universities – responds to the Scottish Government’s decision to scrap its 2030 climate target. More →

April 17, 2024

AI may boost productivity, but we are already becoming reliant on it, and that’s a problem

by Marvin Gort • AI, News, Technology, Workplace

Just ten years ago, AI systems couldn’t even classify images as well as humans. Now, they’re routinely outperforming people on a range of tasks, according to a new report from the Stanford Institute for Human-Centered Artificial Intelligence (HAI). The 2024 AI Index is the latest update to the annual analysis of trends in artificial intelligence. Led by a team of experts from academia and industry, it’s one of the most in-depth reports on the technology and its impact available. This year’s edition tracks research, development, technical performance, responsible practices, economics, policy, public opinion, and more. More →

April 15, 2024

West End gateway for Leeds takes shape with green light for McLaren’s mixed use neighbourhood

by Neil Franklin • Company news, Property

Leeds City Council has McLaren’s mixed use Wellington Square development of build-to-rent homes and commercial space in Leeds’ West End. The new neighbourhood, designed by Howells Architects, will transform a 2.47 acre site into a lively gateway to Leeds city centre with a landmark tower, high-quality new homes and innovative workspace in the city’s professional core and Innovation Arc, which establishes the area as a hub for research and innovation. More →

April 15, 2024

Half of bosses now live in fear that AI could steal their jobs

by Neil Franklin • AI, News, Technology

Hundreds of UK chief executives believe that artificial intelligence (AI) could steal their job, underlining widespread fears over the technology’s potential to shake up traditional working models. Nearly half (43 percent) of CEOs said they felt that their job could be at risk due to the technology, according to a new poll from AND Digital. The survey has been published in The CEO Digital Divide: are you accelerating enterprise value or slowing it down [registration], which surveyed 600 global CEOs and was conducted by independent research company Censuswide. More →

April 10, 2024

MIPIM has changed, and mostly for the better

by Anna King • Environment, Features, Property

With an estimated 27,000 delegates from 90 countries, MIPIM is still a force to be reckoned with when it comes to opportunities to network and learn as delegates, with organisations using the week to deliver news, insights and thinking. The theme for MIPIM this year was The Global Urban Community; and it really did feel more international than previous years, the majority of attendees are still from France, Germany and the UK, but there were significant delegations from the United States, Canada, Oman, Egypt and Hong Kong, more from Asia generally and a show stopper from Saudi Arabia, more of which later. More →

April 9, 2024

Microsoft announces new London AI research hub

by Jayne Smith • AI, News, Property, Technology

Microsoft AI is opening a new AI hub in Central London. The firm claims that the new Paddington based centre, dubbed Microsoft AI London will ‘drive pioneering work to advance state-of-the-art language models and their supporting infrastructure, and to create world-class tooling for foundation models’, collaborating closely with AI teams across Microsoft and with its partners, including OpenAI. More →

April 3, 2024

London Mayor sets out ambitious plans for Capital’s growth and reinvention

by Marvin Gort • Cities, News, Property

Sadiq Khan, the Mayor of London, is today launching an ambitious plan aimed at creating 150,000 high-quality, well-paid jobs by 2028. This initiative will be unveiled alongside the shadow chancellor, Rachel Reeves. Reeves will say that a Labour administration intends to reset the relationship between the national government and London, while Khan thinks what is good for London is good for the UK. More →