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Singapore

85% of CRE Executives Surveyed Say that the Quest for Productivity is Shaping Their Company’s Current and Future Real Estate Strategy

Jones Lang LaSalle Survey of Top Corporate Real Estate Executives in Asia Pacific


SINGAPORE, 4 June 2012 – Real estate is a key productivity driver for eighty five percent of companies according to a Jones Lang LaSalle (NYSE:JLL) survey of over 60 senior real estate executives at the recent CoreNet Global Summit held in Singapore. Key survey findings were:
 
• Eighty five percent of companies surveyed said that the quest for productivity is shaping their current and future real estate strategy
• Eighty three percent of respondents stated that real estate outsourcing can drive productivity within a firm
• The top three productivity outcomes companies are expecting Corporate Real Estate (CRE) executives to deliver are cost reduction, talent attraction and retention and improved output quality.
• Fifty one percent of respondents are currently measuring productivity outcomes, while a further 36 percent are planning to within the next 12 months to three years
• The top three areas being measured are cost savings and avoidance, project delivery on time and on budget, and space utilization

John Forrest, CEO of Corporate Solutions, Asia Pacific at Jones Lang LaSalle said: “Economies in Asia and projected growth in the region remain stronger than for the rest of the world, for both multinational and domestic corporations. The C-suite focus remains firmly on margins; consequently reductions in operating costs and increasing productivity are the key focus. What is very clear from our recent survey is that the impact that CRE can have on these priorities is widely recognised.”

He continued: “On-going management interest in cost saving, productivity and efficiency is leading to more intense scrutiny over location decisions, with the respective merits of onshore, near-shore or offshore being actively reconsidered. This is bringing greater attention to secondary and tertiary cities in emerging markets across Asia Pacific as companies seek to secure competitive advantage through location.”
 
John Forrest: “As companies increasingly understand the impact of their real estate decisions on the bottom line, they are turning to vendor-partnering relationships with specialist real estate service providers to leverage their portfolios and drive down costs. Many companies in Asia Pacific are embarking on the partnering journey for the first time, while others are moving to more sophisticated partnership models to ensure full value is being extracted.”
 

Notes to Editors
1. Jones Lang LaSalle surveyed 60+ senior corporate real estate executives at the Corenet Global Summit held in Singapore on 28 - 29 March 2012
2. Interview with John Forrest at Corenet Global in which he discusses productivity in Asia Pacific http://youtu.be/tV8gPGIkAvU