Top 50 most expensive office spaces in the world – CBRE

According to CB Richard Ellis Group, Inc. (CBRE) Research’s semi-annual Global Market Rents survey cities came in the Top 10 most expensive cities in the world. 

London’s West End is once again the world’s most expensive office market, while rapidly-rising Moscow climbed to second place, according to CB Richard Ellis Group, Inc. (CBRE) Research’s semi-annual Global Market Rents survey. The report tracks world markets with the highest as well as fastest-growing occupancy costs for the 12 months ended March 31, 2008. Tokyo’s Inner Central Five Wards, Mumbai’s Nariman Point and Tokyo’s Outer Central Five Wards rounded out the top five most expensive markets.

“Office occupancy costs are continuing to defy sluggish economic conditions and the credit crunch, as they rise faster than global inflation,” said Dr. Raymond Torto, CBRE’s Global Chief Economist. “These cost increases are dominated by emerging markets, caused by both supply and demand imbalance and the depreciation of the dollar relative to local currencies. In some of these emerging markets, Class A office space is seriously lacking.”

Ho Chi Minh City had the fastest-growing occupancy costs during this period, up 94%. Moscow was not far behind at 93%, followed by Singapore at 86%. Overall, EMEA (Europe, Middle East and Africa) dominated the list of markets with the fastest growing occupancy costs, accounting for five of the top 10 and 19 of the top 50 markets. Worldwide, 88% of the 173 office markets monitored posted higher occupancy costs.

Among the most expensive markets, Singapore and Dubai were newcomers to the top 10. Singapore ranked ninth with an occupancy cost of $139.31 (occupancy cost in US$/sq. ft./annum used throughout this release), while Dubai debuted at number 10 with an occupancy cost of $128.49. With a near-doubling of occupancy costs, Moscow rose four places to second at $232.37. Midtown Manhattan was still the priciest market in North America, at $103.43, and ranked number 13 worldwide.

The Top 10 most expensive cities are
1. London (West End), England
2. Moscow, Russia
3. Tokyo (Inner Central), Japan
4. Mumbai, India
5. Tokyo (Outer Central), Japan
6. London (City), England
7. New Delhi, India
8. Paris, France
9. Singapore
10. Dubai, United Arab Emirate

read more @ the SOURCE: CB Richard Ellis – CBRE Research

Plan to Remake Tysons Corner Envisions Dense Urban Center – washingtonpost.com

The transformation of Tysons Corner from a car-dominated tangle of offices, malls and auto dealers into a livable city will start moving ahead in the coming weeks.

Fairfax County leaders and landowners are unveiling sweeping proposals to build densely packed high-rises, miles of new streets, and enough parks, schools, police stations and firehouses to serve an entirely new place.

The results could determine the future not only of Virginia’s mightiest jobs hub, but also what happens across the country. Urban-renewal leaders are looking to Tysons as a model.

read more @ the SOURCE: washingtonpost.comPlan to Remake Tysons Corner Envisions Dense Urban Center

NORDHAVNEN, COPENHAGEN: THE SUSTAINABLE CITY OF THE FUTURE

Open international ideas competition
Competition period: 27 May to 26 September 2008
Final date for submission of questions: 4 August 2008
Questions and answers will be uploaded to this website
There is no deadline for registration.

CPH City and Port Development has launched an open international ideas competition for the Northern Harbour in Copenhagen, a new urban development area with room for 40,000 residents and 40,000 staff in buildings with a total floor area of three to four million square metres.

The competition is open to everyone, but is in particular aimed at urban planners, architects, landscape architects and traffic planners, who are very welcome to collaborate with experts in special fields, eg sustainability.

Total prize money amounts to DKK 3 million.

Read more @ AA - Nordhavn.

$14-million gift launches transformation of architecture education at University of Toronto — News@UofT

The University of Toronto today announced an historic $14-million gift by John and Myrna Daniels to the Faculty of Architecture, Landscape, and Design, the largest ever private gift to any architecture school in Canada.

The gift will fund a major physical expansion and renovation of the faculty and will also endow a scholarship fund for outstanding architecture, landscape and design students. In recognition of the powerful impact this gift will have on the university, U of T will name the Faculty the John H. Daniels Faculty of Architecture, Landscape & Design. John Daniels received his bachelor of architecture degree from U of T in 1950 and went on to become one of Canada’s most important developers of residential communities.

“The Faculty of Architecture, Landscape & Design has a fabulous tradition of contributing to the creation of beautiful and functional buildings and sustainable cities,” said President David Naylor. “The Daniels’ remarkable benefaction will play a pivotal role in the education of the next generation of architecture leaders in Canada.”

Read more @ the SOURCE: University of Toronto – $14-million gift launches transformation of architecture education at U of T

Rethink urban planning to build wisely, save open spaces, group says – Jerusalem Post

Israel has reached a tipping point where, if plans for higher-density cities are not created within the next two to five years, cities throughout the country will face financial problems in social and municipal services and there will be a loss of open agricultural lands, Irit Solzi, chairwoman of the board and founder of the Movement for Israeli Urbanism said Monday.

The State of Israel currently has 7.3 million people and is predicted to naturally grow to 11.5 million by 2030, Solzi said. It is currently listed as the ninth-densest country in the world – between India and Belgium – with the highest densities found in the central cities of Bnei Brak, Bat Yam and Givatayim, according to the Central Bureau of Statistics.

read more @ the SOURCE: Jerusalem Post – Rethink urban planning to build wisely, save open spaces, group says

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