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

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.

Olympic Park construction gets early start – London 2012

Construction officially started on the London 2012 Olympic Park today as the Olympic Delivery Authority (ODA) began work on the Olympic Stadium – three months earlier than originally planned.
The work to create the permanent foundations for the Stadium was witnessed by Prime Minister Gordon Brown who had an opportunity to meet workers on site. In the next few years over a thousand workers will help build the venue.

The Stadium will be the centre-piece for the London 2012 Games with over 4bn people across the world watching the Opening and Closing Ceremonies and the track and field events.

SOURCE: London2012.com – News: Olympic Park construction gets early start.

LandDesign team wins 10K for green design – Nashville Business Journal

One of LandDesign Inc.’s Nashville office team won an internal competition on green design.

Human Element, a Nashville team, tied for first place in the company-wide sustainable design competition and shared in the $10,000 first place award.

Fourteen teams competed across the company to reduce the carbon footprint of Birkdale Village, a 52-acre mixed use project with residential over retail located in Huntersville, N.C.

SOURCE: Nashville Business JournalLandDesign team wins 10K for green design.

Critics say new green rating hurts affordable housing – Mlive.com

The U.S. Green Building Council’s new rating system for Leadership in Energy and Environmental Design in neighborhood development, known as LEED-ND, is coming under fire for not putting a greater emphasis on affordable housing.

Critics say LEED-ND, in its current draft, discourages participating developers from alloting dollars into expensive energy-efficient affordable housing if their payback is, at most, four points out of a possible 106. They worry the point system, and any resulting developer disincentives, will get ingrained in municipal law books if local governments continue to adopt LEED standards at unprecedented rates — all at a time, they add, when the growing gap between wages and mortgages is creating an affordable housing crisis regionally and nationally. 

In a recent study by Cambridge, Mass.-based New Ecology Inc., the cost of building green affordable housing held a nearly 3 percent premium, ranging up to 9 percent on some projects.

read more @ the SOURCE: Mlive.com – Critics say new green rating hurts affordable housing.

Ed: Although an interesting article however the article doesn’t mention the savings that low-income families will gain with lower energy bills.
More education of the public in relation to LEED is needed (eg initial construction cost vs long-term running costs and reduced environmental costs). Urban Planning also becomes more important including density of housing.

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