About our report

The Turner & Townsend Global PMO Team are delighted to bring you the first Shell RE Occupier Cost Index and Insights report. This report has been developed to support the Shell RE community to drive better outcomes by providing you with guidance on occupier fit-out cost indexes, trends and common themes that are emerging in locations that are strategically important to Shell RE. In line with the recent kick-off to the data collection phase for OP22, this report is designed to support your early conversations with business partners and project sponsors.

The landscape around us and the environment we work in has changed very rapidly in the last couple of years. We aim to bring insights into the key challenges, opportunities, trends, and projections for the global construction industry, keeping you informed as our trusted partner.

Source and validity of the cost data

Our report draws on construction data and analysis from real estate projects around the world. Our research gathers data on market conditions, as well as challenges and opportunities our local experts are seeing on the ground. We also analyse input costs such as labour and materials, and the average cost per square metre across different construction types.

A variety of construction cost methodologies are adopted to ensure our findings deliver accuracy and insight. For simplicity, we have adopted straight-line USD conversion as our primary method of comparison for our cost data.

For more information on the methodology see page here. Detailed explanations of what’s included in and excluded from our cost information are given on page here.

References found in this survey have been sourced from Turner & Townsend’s International Construction Market Survey 2021 and the Singapore Market Insight Report 2021, with information that was relevant at the time of collation in the 1st half of 2021.

An updated version of this document is earmarked to be launched in the second half of 2022.