The global cities: Continuous reinvention and implications for CRE

James Roberts

Corporate Real Estate Journal, 2017, vol. 7, issue 1, 8-14

Abstract: The supplanting of finance with technology, media and telecoms (TMT) firms as the driving force behind the global city economy has been the defining characteristic of the last decade. As a result, 2007 seems a long time ago in the world of corporate real estate, and so much is changing in office occupation as more firms work tech-style. Nevertheless, for the real estate professional, there are some continuous trends to inform decision making. First, there is the growing centrality of people within a services-led economy. Secondly, we have the merging of a range of influences within a CBD setting (business, culture, academia and social life), with companies under pressure from workers and business needs to be inside that melting pot. Thirdly, there is the growing acknowledgment that an office is a place from which one operates, not a self-contained working location.

Keywords: technology; media and telecoms; TMT; finance; global cities; co-working; offices; workplace; staff retention; lifestyle (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2017
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