Global corporates target over 100m sqft of new workspace

Corporate real estate leaders are betting on the future of offices as they seek to build resilience into their businesses in the shadow of economic, geo-political and technological disruption, according to the latest research from global real estate advisor Knight Frank.

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Knight Frank's fourth edition of its (Y)OUR SPACE survey draws on the responses of almost 300 corporate real estate leaders with direct responsibility for over 650 million sq ft of space across the globe.

The research reveals how some of the world’s largest international corporations are seeking to balance costs with the need to transform their business operations, while also offering tech-enabled hybrid workplaces that ensure flexibility and resilience in an uncertain global environment.

As many as 63 per cent of the corporate real estate leaders surveyed expressed concern about economic and geopolitical volatility. But instead of freezing decision-making, companies are taking action by building optionality into their space strategies, including shorter leases, more flexible formats, and locations that align with risk diversification and talent access.