New office construction boom as demand for premium space grows
Evening Standard|May 13, 2024
LONDON'S recovering office construction sector has begun to boom with developers starting work on buildings with a total of 2.5 million sq ft of space in the first quarter of the year, according to new figures today.
Jonathan Prynn
New office construction boom as demand for premium space grows

Hopes that interest rates will start to fall later in the coming months combined with strong demand for Grade A space have helped encourage a burst of activity after the construction doldrums of the previous year, particularly after Kwasi Kwarteng's mini-Budget of September 2022.

Data from analysts CoStar show ground was broken on 2.5 million sq ft of space between January and March, more than 50% higher than the 10-year quarterly average and one of the highest quarterly figures of the past five years.

It follows a strong autumn with 4.5 million sq ft of office starts over the six months.

هذه القصة مأخوذة من طبعة May 13, 2024 من Evening Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة May 13, 2024 من Evening Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.

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