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The global cities: Continuous reinvention and implications for CRE

Author

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  • Roberts, James

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.

Suggested Citation

  • Roberts, James, 2017. "The global cities: Continuous reinvention and implications for CRE," Corporate Real Estate Journal, Henry Stewart Publications, vol. 7(1), pages 8-14, September.
    • Handle: RePEc:aza:crej00:y:2017:v:7:i:1:p:8-14
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    More about this item

    Keywords

    technology; media and telecoms; TMT; finance; global cities; co-working; offices; workplace; staff retention; lifestyle;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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