Jones Lang LaSalle(US:JLL) 智通财经网·2025-05-20 08:52Group 1 - The average design and construction cost for office buildings in Hong Kong is expected to remain stable at $133 per square foot in 2024, ranking 28th globally and 4th in the Asia-Pacific region [1] - Despite an increase in labor costs last year, stable material costs and intensified competition among contractors have kept the costs unchanged, with expectations of a significant reduction in costs by 2025 [1][2] - Companies in the Asia-Pacific region show a strong willingness to increase investment in office renovations, with 74% of Indian and 72% of Australian firms planning to invest more in space design and renovations over the next five years, surpassing the global average of 59% [1] Group 2 - The average renovation cost for office buildings in the Asia-Pacific region is $136 per square foot, the lowest globally, reflecting a growing emphasis on technology integration and hybrid work models [2] - There is a notable increase in investment in audiovisual and technology equipment in the Asia-Pacific region, indicating a focus on enhancing efficiency to support hybrid work environments [2] - 66% of global companies plan to increase investments in sustainable performance over the next five years, with mechanical and electrical services accounting for a significant portion of renovation costs in the Asia-Pacific region [2] Group 3 - The supply gap for Grade A office buildings is expected to widen, leading to a focus on lease renewals and upgrading existing spaces as alternative solutions [3] - The ongoing supply constraints are anticipated to result in more suitable renovation projects in the Asia-Pacific region [3] - Early planning for lease arrangements and decisive investments in existing properties will be beneficial for owners and tenants in managing costs effectively amid uncertain economic and geopolitical conditions [3]