The development of tall office buildings in Asia began relatively recently at the end of the 20th century. However, the pace of construction has been so rapid that by June 2014, the region was home to 55% of the total number of tall office buildings globally.
Within Asia, a high density of tall buildings is viewed as being synonymous with being a successful financial hub. Authorities in a number of markets have pursued this strategy as a means to establish their city as a financial centre or to reposition their economies. This “build and they will come” approach has been adopted in several emerging financial markets across the region but has been largely unsuccessful to date.
This paper will also analyse the future supply of tall and supertall office buildings in Asia and answer the following questions:
- What are the key demand drivers?
- What rental premium do these buildings command?
- What is the typical tenant mix?
- Where are the opportunities for occupiers?
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