GLOBAL OFFICE FORECAST 2015 2016
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Transcript of GLOBAL OFFICE FORECAST 2015 2016
U.S. COMEBACK FUELS REGIONAL GROWTH
SOUTH AMERICA IN SLUMP
SUN SHINES ON JAPAN AND INDIA
AMERICAS
ASIA PACIFIC
EASTERN EUROPE
WESTERN EUROPE
GLOBAL OFFICE
5
RENTAL GROWTH IN BOTH ESTABLISHED AND EMERGING ASIAN MARKETS
RENTAL GROWTH EXPECTED IN MOST EUROPEANMARKETS OVER THREE YEARS
0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0%
Los Angeles Seattle
New York Barcelona
San Francisco Jakarta
Houston Tokyo Dublin Boston
6
TENANTS MOVING PROACTIVELYIN ACTIVE MARKETS
0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0%
Jakarta
Shanghai
Manila
Mexico City
Pune
Hyderabad
Shenzhen
Chengdu
Istanbul
Ho Chi Minh City
0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0%
Seattle
Hyderabad
Manila
Mexico City
Shanghai
Mumbai
Jakarta
Guangzhou
Shenzhen
Ho Chi Minh City
GLOBAL OFFICE
MEXICO CITY ON THE UPSWING
SOUTH AMERICAN SLOWDOWN
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
0.0% 5.0% 10.0% 15.0% 20.0% 25.0%
Ottawa Chicago Atlanta
Los Angeles Montreal
Philadelphia Houston
New York San Francisco
CalgaryWashington, DC
Toronto Dallas
Buenos Aires Boston
Vancouver São Paulo
Santiago Rio de Janeiro
pp y g y ( )
10
DYNAMICS SUPPORT LEASING ACTIVITY
TENANT LEVERAGE IN SEOUL TO ERODE
NEW SUPPLY DRIVES UP VACANCYIN EMERGING MARKETS
TOKYO ON RECOVERY TRACK; HONG KONG ON HOLD
GLOBAL OFFICE
SOUTHEAST ASIA AND INDIA’S OUTLOOK BRIGHTENS
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0
Seoul Hong Kong
Bangkok Chennai
Melbourne Tokyo
Kuala Lumpur Taipei Beijing
Chengdu Sydney
Brisbane Perth
Singapore Pune
Delhi - NCR Bengaluru
Hyderabad Manila
Shanghai Mumbai Jakarta
Guangzhou
SUPPLY LED REVIVAL
0.0% 5.0% 10.0% 15.0% 20.0% 25.0%
Barcelona Madrid Lisbon
Amsterdam London Dublin Milan
Stockholm Zurich
Frankfurt Paris
Munich Brussels
Budapest Luxembourg
Bratislava Moscow
Warsaw Prague
Bucharest Istanbul
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
GLOBAL OFFICE
s2015 2016 2015 2016 2015 2016
CITY (LOCAL MEASURE) % % % LOCAL
CURRENCY US$/SF/YR LOCAL CURRENCY US$/SF/YR LOCAL
CURRENCY US$/SF/YR LOCAL MEASURE SF
LOCAL MEASURE
SF LOCAL MEASURE SF
0 0 500 500
0 0 0 0 550 550
0 0 0 0 615 615
0 0 0 0 606 606
0 0 0 0
20
s2015 2016 2015 2016 2015 2016
CITY (LOCAL MEASURE) % % % LOCAL
CURRENCY US$/SF/YR LOCAL CURRENCY US$/SF/YR LOCAL
CURRENCY US$/SF/YR LOCAL MEASURE SF
LOCAL MEASURE
SF LOCAL MEASURE SF
0 0 0 0 622 622
50 50
0 0
168 168 892 892
GLOBAL OFFICE
21
s2015 2016 2015 2016 2015 2016
CITY(LOCAL MEASURE) % % %
LOCAL CURRENCY
US$/SF/YRLOCAL
CURRENCYUS$/SF/YR
LOCAL CURRENCY
US$/SF/YRLOCAL
MEASURESF
LOCAL MEASURE
SFLOCAL
MEASURESF
882 882
0 0
0 0 0 0
285 285
909 909
22
s2015 2016 2015 2016 2015 2016
CITY(LOCAL MEASURE) % % %
LOCAL CURRENCY
US$/SF/YRLOCAL
CURRENCYUS$/SF/YR
LOCAL CURRENCY
US$/SF/YRLOCAL
MEASURESF
LOCAL MEASURE
SFLOCAL
MEASURESF
86 929 28
501
216 155
GLOBAL OFFICE
s2015 2016 2015 2016 2015 2016
CITY(LOCAL MEASURE) % % % LOCAL
CURRENCYUS$D/SF/YR
LOCAL CURRENCY
US$D/SF/YR
LOCAL CURRENCY
US$D/SF/YR
LOCAL MEASURE SF LOCAL
MEASURE SF LOCAL MEASURE SF
MANILA
162 560
9 58
BANGKOK 0 0 0 0
s2015 2016 2015 2016 2015 2016
CITY(LOCAL MEASURE) % % % LOCAL
CURRENCYUS$D/SF/YR
LOCAL CURRENCY
US$D/SF/YR
LOCAL CURRENCY
US$D/SF/YR
LOCAL MEASURE SF LOCAL
MEASURE SF LOCAL MEASURE SF
906
50 802
12 102 8 91
29 812
GLOBAL OFFICE
25
s2015 2016 2015 2016 2015 2016
CITY (LOCAL MEASURE) % % % LOCAL
CURRENCYUS$D/SF/YR
LOCAL CURRENCY
US$D/SF/YR
LOCAL CURRENCY
US$D/SF/YR
LOCAL MEASURE SF LOCAL
MEASURE SF LOCAL MEASURE SF
0 0
266 628
BEIJING
258
26
s2015 2016 2015 2016 2015 2016
CITY (LOCAL MEASURE) % % % LOCAL
CURRENCYUS$D/SF/YR
LOCAL CURRENCY
US$D/SF/YR
LOCAL CURRENCY
US$D/SF/YR
LOCAL MEASURE SF LOCAL
MEASURE SF LOCAL MEASURE SF
111 108
265
0 0 86
90 26 919 0 0
GLOBAL OFFICE
s2015 2016 2015 2016 2015 2016
CITY (LOCAL MEASURE) % % % LOCAL
CURRENCYUS$D/SF/YR
LOCAL CURRENCY
US$D/SF/YR
LOCAL CURRENCY
US$D/SF/YR
LOCAL MEASURE SF LOCAL
MEASURE SF LOCAL MEASURE SF
0 0
862 862
28
s2015 2016 2015 2016 2015 2016
CITY (LOCAL MEASURE) % % % LOCAL
CURRENCYUS$D/SF/YR
LOCAL CURRENCY
US$D/SF/YR
LOCAL CURRENCY
US$D/SF/YR
LOCAL MEASURE SF LOCAL
MEASURE SF LOCAL MEASURE SF
GLOBAL OFFICE
29
s 2015 2016 2015 2016 2015 2016
CITY (LOCAL MEASURE) % % % LOCAL
CURRENCY US$/SF/YR LOCAL CURRENCY US$/SF/YR LOCAL
CURRENCY US$/SF/YR LOCAL MEASURE SF LOCAL
MEASURE SF LOCAL MEASURE SF
280 290
515 0 0
s 2015 2016 2015 2016 2015 2016
CITY (LOCAL MEASURE) % % % LOCAL
CURRENCY US$/SF/YR LOCAL CURRENCY US$/SF/YR LOCAL
CURRENCY US$/SF/YR LOCAL MEASURE SF LOCAL
MEASURE SF LOCAL MEASURE SF
0 0
0 0
MILAN
GLOBAL OFFICE
s 2015 2016 2015 2016 2015 2016
CITY (LOCAL MEASURE) % % % LOCAL
CURRENCY US$/SF/YR LOCAL CURRENCY US$/SF/YR LOCAL
CURRENCY US$/SF/YR LOCAL MEASURE SF LOCAL
MEASURE SF LOCAL MEASURE SF
810
s 2015 2016 2015 2016 2015 2016
CITY (LOCAL MEASURE) % % % LOCAL
CURRENCY US$/SF/YR LOCAL CURRENCY US$/SF/YR LOCAL
CURRENCY US$/SF/YR LOCAL MEASURE SF LOCAL
MEASURE SF LOCAL MEASURE SF
GLOBAL OFFICE
VACANCY s 2015 2016 2015 2016 2015 2016
CITY (LOCAL MEASURE) % % % LOCAL
CURRENCY US$/SF/YR LOCAL CURRENCY US$/SF/YR LOCAL
CURRENCY US$/SF/YR LOCAL MEASURE SF LOCAL
MEASURE SF LOCAL MEASURE SF
VACANCY s 2015 2016 2015 2016 2015 2016
CITY (LOCAL MEASURE) % % % LOCAL
CURRENCY US$/SF/YR LOCAL CURRENCY US$/SF/YR LOCAL
CURRENCY US$/SF/YR LOCAL MEASURE SF LOCAL
MEASURE SF LOCAL MEASURE SF
GLOBAL OFFICE