Source and validity of our report

This exercise was carefully tracked and managed from the initiation stages, which began with an end-user survey to build on our success from version one.

The methodology in developing this cost index took a transformative approach in view of the unprecedented disruptions and challenges that we are currently facing. Rather than rely on historical data, which we have amassed since the start of our global program management partnership in 2014, we focused on developing a forward-looking index, pricing fit-out costs in the current environment considering the inflationary conditions and exchange rate volatility that have surfaced this year.

To know more, access the application and methodology section of the report here.

In the initiation stages, took on-board the advice from real estate’s global workplace representatives to quantify the optimal size, spatial plans, and key variants in desk-sharing, shared spaces and fit and finish that separate the typical downtown corporate site, versus a real estate office within an industrial or manufacturing environment, which is an area of growing investment in the portfolio. We also engaged the REOCIT organization from the start to understand the cost challenges with early planning, the unique IT & AV cost drivers and outliers that apply in the development of this index.

The following chart shows the key development stages of this report, and the cross-collaboration between the partnership that facilitated the outcome.

Our report also draws on our knowledge base of real estate construction insights from around the world and have extracted key challenges and cost risks that are relevant to your portfolio, elaborating on inflation, recent exchange rate movements, supply chain disruptions, market tendering conditions and construction labour costs, all of which influence the planning and delivery of capital projects.

These have been sourced from Turner & Townsend’s International Construction Market Survey 2022. Access our full ICMS 2022 report here.

In this version we also call out regional highlights and sub-regional nuances unique to the real estate portfolio and have aligned the geographies to fit the recent pairing of the Qatar portfolio with Asia Oceania.

We bring the narratives to life, we have weaved spotlights and case studies throughout the report that have been penned by your regional PMOs, and further insights on how are we supporting your sustainability targets from our NZE PMO lead, Nick Cretikos.

To know more about the cost base, application of the index, and terms and references, access the “application and methodology” section at the conclusion of the document here.