‘Caution’ appears to be the key word among corporate occupiers at the moment in leading global markets including New York, London, Singapore and Beijing. While corporate performance is healthy in most industries, all firms remain under pressure to maximise the efficiency of their real estate portfolios. The financial services sector continues to be focused on consolidation and rationalisation of its footprint, while the energy sector is still experiencing pressure from low oil prices, resulting in portfolio reviews and cost-reduction initiatives.
Occupier activity cautious on political concerns