Westford, USA, Feb. 09, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest report, the surge in demand for office spaces is intricately linked to the phenomenon of rapid urbanization and robust economic growth observed in emerging markets. Cities are expanding in terms of population and economic activities in the office real estate market as these markets evolve and flourish.
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Browse in-depth TOC on the "Office Real Estate Market"
- Pages - 157
- Tables - 91
- Figures – 76
The global office real estate market stands as a dynamic and vital sector that plays a pivotal role in facilitating economic activities on a worldwide scale. This market encompasses major financial hubs, including the iconic Manhattan in New York and the technology epicenter of San Francisco.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 14.07 Trillion |
| 2030 Value Projection | USD 19.55 Trillion |
| CAGR | 4.2% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in Global Office Real Estate Market
- CBRE Group, Inc.
- JLL (Jones Lang LaSalle)
- Cushman & Wakefield
- Colliers International Group Inc.
- Brookfield Asset Management
- Hines
- Savills plc
- Mitsui Fudosan Co., Ltd.
- Unibail-Rodamco-Westfield
- Skanska AB
- Ivanhoé Cambridge
- Dexus
- Mitsubishi Estate Co., Ltd.
- Oxford Properties Group
- Lendlease Corporation
- Swire Properties Limited
- Hongkong Land Holdings Limited
- Prologis, Inc.
- Tishman Speyer Properties
- Land Securities Group plc
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High-Rise Commercial Buildings Segment has Risen by Offering Prestigious Addresses for Businesses
High-rise commercial buildings constitute the most prominent global office real estate market segment. These towering architectural marvels stand as symbols of corporate influence and provide prestigious addresses that appeal to businesses seeking prominence and accessibility.
The market in North America undeniably maintains a dominant position in the global office real estate market. Renowned for its iconic skylines and thriving business hubs, cities across the continent consistently draw multinational corporations, startups, and innovative enterprises alike.
Coworking Spaces Segment to Dominate Market due to Increased Demand for Flexible Office Solutions
Coworking spaces segment has emerged as the most rapidly expanding sector within the global office real estate market. This innovative concept has revolutionized the traditional office landscape by introducing flexible and collaborative work environments. Coworking spaces provide individuals and businesses with flexible leasing options, allowing them to work in shared, communal spaces that foster collaboration and creativity.
The market in Asia Pacific is poised for a remarkable growth rate and is anticipated to achieve the fastest CAGR in the global office real estate market during the forecast period. This surge in growth is attributed to the rapid expansion of economies in countries such as China, India, and Singapore, which have increasingly become magnets for business investments and developments.
A comprehensive analysis of major global office real estate market players has been conducted recently. The report encompasses various aspects of the market, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments in Global Office Real Estate Market
- Hines, a globally renowned real estate firm, recently made a significant announcement of its foray into the market. The company unveiled plans for a new mixed-use development project, featuring a cutting-edge, 30-story, grade-A office building designed to meet the most stringent international quality standards. With an impressive leasable area of 900,000 square feet, this development underscores Hines' commitment to catering to the evolving preferences of tenants, with a strong emphasis on superior build quality and an unwavering focus on health and safety considerations in the wake of the post-pandemic era.
- WeWork India, a prominent player in the co-working industry, responded to the surging demand for flexible workspace solutions in 2022. The company secured a substantial lease agreement for approximately 362,000 square feet of office space in Bengaluru. This strategic move aligns seamlessly with WeWork India's expansion strategy as it strives to meet the escalating requirements of businesses seeking versatile and adaptable work environments.
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Key Questions Answered in the Global Office Real Estate Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
Related Reports in SkyQuest’s Library:
Global Residential Real Estate Market
Global Shopping Centers Market
Global Architectural Service Market
Global 5D Building Information Modeling Market
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