Consolidation of state properties boosts London economy by £3.5bn

by Mark Eltringham • Property, Public Sector

According to a new report from property consultancy Knight Frank into the impact of the Government’s policy of consolidating and improving the management of the public sector estate in London, the economy has been boosted by as much as £3.5 billion. The study has reviewed the results of the work carried out by the Cabinet Office’s Efficiency and Reform Group at 16 properties in central London including the Department for Business, Innovation and Skills, the Department for International Development, the Land Registry and the Crown Prosecution Service. Many of these sites were seen as dated and have now been redeveloped for use by other organisations. More →

February 4, 2013

Gulf construction and fit-out continues to boom, claims report

by Mark Eltringham • Architecture, Furniture, Knowledge, News, Property

The total value of building projects in Gulf Cooperation Council states will exceed $80 billion this year according to a new report from dmg::events* in conjunction with consultancy Ventures Middle East. The survey concludes that this year will see a near one fifth increase in the overall value of projects up from nearly $69 billion in 2012 to $81.6 billion in 2013. Meanwhile the interlinked market for interior contracting and fit-out in 2012 was valued by the report at $7.86bn – a 56 per centincrease on 2011. The UAE continues as the the region with the largest interiors spend ($2.83bn), followed by Saudi Arabia ($2.6bn) and Qatar ($1.49bn). More →

January 22, 2013

Green retro fitting a ‘best bet’ for 2013

by Sara Bean • Environment, News, Property

EP photo 1

Refurbishing existing buildings to new standards and turning them into good green assets has been identified as one of the best bets for the property sector in the year ahead, according to new research from the Urban Land Institute and PwC. The survey of industry leaders across Europe found the move to ‘reactivate assets’ – refurbish good properties with green credentials – is taking hold. Sustainable properties are increasingly commanding higher rents and values, as governments move to force companies to increase building’s energy efficiency and reduce their environmental footprint.