Asia Pacific Office Fit Out Cost Guide 2023 (Cushman & Wakefield) 31 March 2023
Cushman & Wakefield’s Office Fit Out Cost Guides provide an indication of the fit out construction costs for occupiers across key cities around the world. Whether it’s a basic, collaborative, or advanced hybrid fit out requirement, these Guides compiled by our Project & Development Services team serves to assist occupiers in defining their capital planning and relocation budgets.
The Guides include a comprehensive fit out cost section covering furniture, professional fees, mechanical & electrical works, construction works, audio visual/IT and other miscellaneous costs, as well as reinstatement and retrofit costs.
Estimated costs provided in our Guides are indicative of market averages based on certain assumptions. Extra costs for specific projects may defer to those presented – we recommend engaging a Project & Development Services professional to advise on precise costings base don your unique construction requirements.
APAC Guide 2023 Highlights
Most, if not all, companies have adopted some form of hybrid working model, often in response to employee expectations of increased workplace flexibility. Similarly, sustainability targets are increasingly becoming the norm, as are more visible practices to foster and promote diversity, equity, and inclusion (DE&I). The role of technology has never been more important – both as an enabler of change and as a means of measuring the impacts of change.
Together, these factors mean that the fitting out of office space goes beyond how the space looks, to include how the space contributes to a company’s financial, social, and sustainability goals whilst also reflecting corporate brand and culture.
For 32 key gateway cities across 12 markets in APAC, the Guide covers:
- 4 key considerations for a best-in-class office fit out: workplace strategy & change management, sustainability, procurement, and technology
- Cost estimates of the different styles of fit out to cater to the post-pandemic workforce
- “All-in” comprehensive fit out cost breakdowns that includes furniture, mechanical and electrical works, construction works, IT, audio visual and miscellaneous costs
- Average costs to retrofit and reinstate office spaces
