Turner & Townsend

Listen to our Global Head of Occupier and Retail Nadia de Klerk hosting a discussion on workspace trends and occupier preferences in commercial property with RICS. Tune in to the podcast (episode 138): https://bit.ly/3wImBux Nadia, in conversation with Will Kinnear of HEWN, focused on the shift towards flexible workspaces and the increasing importance of inclusivity in workspace design. She noted: 🔄 “As lease cycles are becoming shorter, so too are the decision points around office space”, pointing towards the end of the traditional ‘hold and stay’ long-term workplace lease strategy. 📅 Office-move decisions are increasingly made after just five years, driving refurbishment programmes in major cities with centrally connected and amenity-rich locations in favour. 🏢 The need for more inclusive amenities “is absolutely critical”, such as prayer spaces and mother’s rooms, “to keep attracting talent back into the office” and support a wider variety of people across the workforce. #inclusivity #FlexibleWorkspace #WorkplaceTrends #RealEstate

Our International construction market survey for 2024 shows a changing construction cost landscape. Read now: https://bit.ly/4c5qRn2 Globally, 2023 ended with an average increase of 4.6 percent in construction cost inflation. However, the nuances across regions are evident 👇 📊 Africa expects the highest construction cost inflation, at a forecasted 5.7 percent in 2024. 📊 The Middle East follows, with a 4.0 percent forecast in 2024, followed closely by South America and Asia, each averaging 3.9 percent. 📊 Europe anticipates the lowest level of inflation in 2024, with an average of 1.5 percent. 📊 The UK has construction cost inflation at 3.0 percent. Read this year’s report for a full look at what’s driving construction cost inflation across these regions, and how costs are anticipated to rise in 2025 and beyond. #construction #economics #inflation

Today's major programmes are more ambitious than ever, with clients increasingly focused on achieving strategic, environmental, commercial and social outcomes. However, it is essential to rethink commercial models to turn these ambitions into reality. In our latest article forming part of our ‘Transforming performance of major programmes’ series, Cost and Commercial Services Lead, Richard Wood, shares insights on how to enhance value through forward-thinking commercial models in major programmes. Richard also highlights the importance of aligning commercial and delivery models to enable the full potential of major programmes’ intentions and ambitions. Read now: https://bit.ly/4coAvBz #CommercialModels #TransformingPerformance #MajorProgrammes

Our 15th International construction market survey reveals a shake-up to the top ten most expensive places to build globally: https://bit.ly/4c5qRn2 📊 The US dominates the most expensive places to build globally – with New York City retaining its position as the most expensive market to build in, and San Francisco closely following in second place. 📊 Los Angeles, Seattle, Boston and Chicago have also all seen costs increase from 2023, after a year of stronger than anticipated growth in US construction markets. 📊 Tokyo and Osaka are the most notable absentees from the top ten, having slipped to 14th and 17th position. 📊 London has re-entered the top ten in tenth position, indicating the growing construction capacity squeeze in the UK capital. Read this year’s report for a detailed look at what has driven these shifts in build costs. #construction #economics #inflation

Do you want to enhance sustainable procurement practices along the supply chain? 🌎 Our sustainable procurement survey is your chance to share insights that will help shape future requirements for sustainable procurement across multiple industries worldwide. Take the survey: https://bit.ly/3VL07Bg Your responses, plus those from others in your industry, will also be anonymously featured in our upcoming report, which will serve as a global market baseline for various industries. With this, your organisation can benchmark its performance, giving you a clearer idea of how and when to take necessary actions towards enhancing sustainable procurement practices globally. Due to the increasing volatility in global supply chains, evolving legislation and rising investor expectations, there is a continued need to adopt sustainable procurement practices. This applies to all organisations, regardless of size, industry or location. Don’t miss out on this opportunity to drive positive change in the future of sustainable procurement. #SustainableProcurement #SupplyChain #sustainability

Hear from our Country Director, Malaysia, Leo Leow at CoreNet Global’s Malaysia chapter event on 4 July. Leo will share the latest research findings on Malaysia’s construction sector and shed light on the future cost trends and opportunities based on our recently launched Malaysia market intelligence report. Joining Leo on the panel are: 🎙️ Sr. Dr. Norngainy Mohd Tawil, Associate Professor, Faculty of Engineering and Built Environment, Universiti Kebangsaan Malaysia 🎙️ Ir Shahida Azizan, Lead Real Estate Investment, Strategy and Ventures Division, Tenaga Nasional Berhad 🎙️ Swami Jayaraman, Managing Director, SWI Solutions To register: https://bit.ly/3KYYHOV #Malaysia #construction #CoreNetGlobal

In recognition of Armed Forces Week in the UK, our latest interview in our Spotlight in Inclusivity series features Ed Robinson – our Global Defence Lead. Read now: https://bit.ly/4eAprmd Ed joined our business in 2016 after serving in the British Army for 23 years. In the interview, Ed discusses his transition to a major programmes consultancy, and what attracted him to this field. He also highlights the work we are doing to enhance our veteran network and improve their representation across major projects and programmes. #ArmedForcesWeek #MajorProgrammes #defence

We anticipate ongoing shifts in the Toronto market’s occupier sector. Businesses are re-evaluating their hybrid working models and implementing new workplace strategies to create workspaces that adapt to the dynamic business landscape. Our Project Management Director Dima El Baba says: ''Toronto office spaces must be adaptable to corporate occupiers' changing needs. Modular furniture, movable partitions, and reconfigurable layouts allow for seamless adjustments." Contact Dima for more on the Toronto office fit-out dataset. In the meantime access the interactive test fit of an office floor plate in our latest Global fit-out report to understand costed assessments and optimize spend: https://bit.ly/4caineq #CRE #Toronto #OccupierServices #Officedesign

Today, we are announcing that we plan to combine CBRE Project Management and Turner & Townsend into one business operating globally.   This will create an offer that is unparalleled in scale and breadth supporting clients in over 60 countries to navigate powerful trends that act as catalysts for growth - from increased spending on public and private infrastructure, to the green energy transition and employee experience.    Unifying our expertise will provide an exceptional platform for our people to pursue their careers and help realise our purpose: transforming performance for a green, inclusive and productive world.     Vincent Clancy, Chairman and Chief Executive Officer, Turner & Townsend, said: “Our ambition since joining forces with CBRE in 2021 has been to create the premier, differentiated programme, project and cost management capability globally. "We have made exceptional progress towards this goal and our revenue and profit have grown significantly in the last three years. Turner & Townsend’s momentum will continue to grow with the plan to combine two great businesses into one integrated, pure-play project management capability. "Our combined depth of talent and resources, global footprint, sector expertise and commitment to excellence will be second to none in project and programme management.”   For more information: https://lnkd.in/epiNcZ69 #CBRE #ProjectManagement

We are seeing an increased number of research and development spaces where office and laboratory functions coexist under one roof. In this article, our Director of Occupier for Europe, Diana Unterstrasser, explores what clients need to think about when engaging in projects to simultaneously deliver high-quality laboratory and office space. This trend is growing in the world’s renowned tech clusters, especially in regions that have become hotspots for tech development or have a stronger talent pool. The spatial proximity between state-of-the-art labs and working places fosters better collaboration. Read now: https://bit.ly/3xcyppa #LifeSciences #ResearchAndDevelopment #RealEstate