More office occupiers eyeing long-term expansion, upbeat on Asia Pacific’s economic recovery

A growing number of corporate occupiers plan to extend their Asia Pacific office footprint in the long-term while adopting strategies featuring greater flexibility and new hybrid working models, according to the findings of CBRE’s 2021 Asia Pacific Future of Office Survey.

The survey of occupiers across industries and geographies in Asia Pacific saw about 50% of respondents signal their intention to increase the size of their real estate portfolios over the next three years, a substantial increase from just 23 percent in October 2020.

Leading the charge are Asian companies that are displaying a stronger appetite for expansion, particularly tech companies and some investment and insurance firms. Among multinational companies, while consolidation and flight-to-quality remains a focus, some still possess a healthy long-term appetite for expansion, such as tech firms.