1、Are you budgeting enough for your fit-out CapEx risk?Learn more APAC Fit-Out Cost Guide 2022/2023ContentMessage from Martin Hinge3Key Insights4Fit-out costs Asia Pacific 2022/20236Cross-city fit-out cost comparison7Asia Pacific major market outlook8Future of Work considerations11Fitting out your off

2、ice:How much will it cost?14What lies ahead?21Methodology24Appendix25Get in touch262 APAC Fit-Out Cost Guide 2022/2023Global headwinds challenge post-pandemic recoveryThe legacy of COVID-19 continues to exert pressure on the fit-out and construction sectors in Asia Pacific.Common themes remain a sho

3、rtage of skilled resources,material price increases and supply chain disruption contributing to significant price inflation in many of our markets,as they complete their re-openings and roll back much of their pandemic response measures.Progress,however,has been slowed by global headwinds,such as on

4、going geopolitical tensions which have exacerbated energy and supply chain constraints which were already under pressure in the region and fuelling a second wave of price increases.Chinas continued pursuit of a COVID-19 elimination strategy adds further risk to a complex regional environment.We expe

5、ct these factors to continue to drive current levels of construction price inflation over the next 12 months,before starting to moderate towards the end of 2023.Our recent guide on whether you are budgeting enough for your CapEx risk provided further insight on this.Throughout the region,we continue

6、 to witness a rapid acceleration of change in how our clients envision their offices in the post-pandemic landscape.We have seen sustained investment in technology to support the accelerated adoption of dynamic and flexible working.This reflects a reimagination of the role of the office as our clien

7、ts invest in better quality space to pivot the office to drive collaboration,attract and retain talent and enhance physical and mental health and wellbeing.Investment in high-quality space also serves to bolster environmental sustainability goals.Our Fit-Out Cost Guide reflects the current pricing l

8、evels that we see across our Asia Pacific markets and serves not just as a baseline,but also allows you to assess how your capital procurement activities have performed against the market in the last 12 months.As you develop your capital plans to meet the challenges ahead,we hope that this Fit-out C

9、ost Guide for 2022/2023 will provide you with valued guidance on what you can expect,and help you make informed decisions.Please do reach out to our professionals around the region for further information.Martin Hinge Executive Managing DirectorProject and Development Services JLL,Asia Pacific M 3 A

10、PAC Fit-Out Cost Guide 2022/2023 APAC Fit-Out Cost Guide 2022/2023 Key InsightsWe collect fit-out cost data on an annual basis from over 30 cities in Asia Pacific where JLL has a presence.Across the region,strong client sentiment has driven an increase in project volume over the last twelve months w

11、hich,in conjunction with regional and global headwinds have led to significant inflationary pressure on construction and office fit-out costs.*This is based on progressive medium specification fit-out styleUS$1,159Average fit-out cost per sqm*4.5%Year-on-year change in average cost SydneyMost expens

12、ive city for fit outsJLL Singapore office,CapitaSpring by JLL Design Solutions4 4 APAC Fit-Out Cost Guide 2022/2023 Most markets have reported increases,with all citing rising fuel and raw material costs as significant influences on construction pricing in 2022.The biggest price increases were seen

13、in Australia,Singapore,Malaysia and the South Asia markets,while Mainland China and South Korea reported modest year-on-year(y-o-y)price increase which has tempered the regional average.Our Australian markets have reported significant increase in fit-out costs in the last 12 months,with Sydney repla

14、cing Tokyo as the regions most expensive market for fit-outs.Tokyo saw a moderate y-o-y increase in part due to continued margin compression and market consolidation.Investor sentiment remains strong in Japan,with evidence of flight to quality taking place as firms respond to the challenges of hybri

15、d working.The availability of skilled and semi-skilled labour has had a mixed impact across Asia Pacific.Australia,which is already facing a tight labour market,is feeling the pressure as project volumes soar beyond pre-pandemic levels.As Mainland China continues to pursue a zero COVID-19 strategy,i

16、t is challenged by labour constraints because of the imposed travel restrictions that limit movements.Conversely,Singapore,which relies heavily on migrant labour,is benefitting from the progressive relaxation of travel restrictions.India with heavy internal labour mobility has likewise,seen an easin

17、g of international and domestic travel restrictions.Mainland China,Hong Kong and Tokyo were the only markets to identify government restrictions as cost drivers in 2022.But the recent relaxation of restrictions may help to relieve some of the pressure on construction costs in 2023.Construction price

18、s in Hong Kong have remained broadly static,with only moderate price increases recorded.Competition in the construction market has led to margin compression that helps in minimising the impact of price increases.The transition of Southeast Asian countries to a more endemic approach to COVID-19 has i

19、mproved client confidence.Nonetheless,there is a degree of caution in view of the prevailing global headwinds and the supply chain disruptions.This has impacted new projects,particularly those of a larger scale,and the resumption of projects placed on hold during the pandemic.Despite this,the extent

20、 of price increases across Southeast Asia has been mixed.Moderate price increases were seen in Bangkok and Manila due to increased competition and contractors margin compression,whilst prices continue to surge in other markets such as Vietnam.Volatility in exchange rates has continued to impact mark

21、ets that rely heavily on imported materials.Markets such as the Philippines and India making purchases in USD have been heavily exposed.India,for example,has recorded a substantial 6%year on year cost inflation,particularly on imported items like on security,audio visual and IT equipment,however the

22、 full extent of the impact was partially offset by a depreciation of the INR against the USD.Fit-out costs continue to vary widely across the region,ranging from US$1,946 per sqm in Sydney,Australia to US$703 per sqm in Pune,India.The average fit-out cost rose 4.5%year-on-year5 APAC Fit-Out Cost Gui

23、de 2022/2023 ShanghaiSeoulTokyoBeijingTianjinAhmedabadMumbaiDelhiGuangzhouHong KongChengduPuneBengaluruChennaiHyderabadJakartaBangkokKuala LumpurSingaporeHo Chi Minh CityManilaHanoiTaipeiBrisbaneAdelaidePerthMelbourneAucklandSydneyCanberra1,9021,7761,8841,2801,7981,9461,94370978047347681,

24、0571,2141,0179389731,1171,90692590641,401 1,136Source:JLL,2022/2023 based on progressive medium specification fit-out styleAverage 2022/2023 office fit-out cost(US$per sqm)Fit-out costs across Asia Pacific6 APAC Fit-Out Cost Guide 2022/2023 APAC Fit-Out Cost Guide 2022/2023Cross-city comp

25、arison of fit-out costs*Hong Kong is used as the baseline=100Source:JLL,2022/20231.39 1.39 1.36 1.36 1.34 1.28 1.27 1.00 0.91 0.87 0.83 0.81 0.80 0.75 0.73 0.69 0.69 0.69 0.67 0.66 0.64 0.63 0.61 0.61 0.56 0.55 0.52 0.51 0.51 0.50 0.50 0.20 0.00 0.40 0.60 0.80 1.00 1.20 1.40 1.60SydneyCanberraTokyoA

26、delaideMelbourneBrisbanePerthHong KongAucklandSingaporeAsia PacificTaipeiSeoulKuala LumpurBeijingShanghaiGuangzhouManilaTianjinChengduHanoiHo Chi Minh CityJakartaMumbaiDelhiBangkokHyderabadBengaluruAhmedabadChennaiPune7 APAC Fit-Out Cost Guide 2022/2023 Leasing demand robust in many markets,constrai

27、ned by COVID-19 uncertainties elsewhereRe-openings and rebounding tourism have helped spur private consumption,but downside risks will make it difficult to sustain the pace of recovery.Likewise,externally-oriented industries face softening demand amidst the prospect of a further slowdown in global g

28、rowth.Outlook for major markets in Asia Pacific MarketReal GDP(y-o-y change)Forecast of 202320222023 ForecastAustralia3.9%1.8%Landlord favourable marketChinese Taipei(Taiwan)2.9%0.9%Landlord favourable marketHong Kong SAR,China-3.0%1.4%Neutral marketIndia7.0%4.4%Neutral marketIndonesia5.5%3.6%Tenant

29、 favourable marketJapan1.6%0.9%Tenant favourable marketMainland China3.1%4.2%Neutral marketMalaysia8.8%3.1%Tenant favourable marketNew Zealand2.1%1.8%Tenant favourable marketPhilippines6.1%3.3%Neutral marketSingapore3.7%0.7%Landlord favourable marketSouth Korea2.7%1.0%Landlord favourable marketThail

30、and3.2%3.6%Neutral marketVietnam7.7%6.3%Tenant favourable marketSource:JLL,Oxford Economics8 APAC Fit-Out Cost Guide 2022/2023 Key market specific insightsAustralia A tighter monetary policy and high inflation,exacerbated by a weaker Australian currency,is set to dampen economic growth in 2023.Busin

31、esses are facing increased costs and labour shortages,which are weighing on profitability and consequently eroding leasing demand in Australia.Hong Kong SAR,China Signals are mixed in Hong Kong as a recovery in consumption takes place against the backdrop of elevated global inflation and tightening

32、global financial conditions which are slowing global demand.India Release of pent-up demand in India has helped propel private consumption.However,softening external demand,tighter financial conditions and persistently high inflation are major headwinds.Indonesia Indonesias growth is expected to slo

33、w amid global headwinds and domestic demand could be further weakened with elevated inflation.Japan Domestic demand in Japan has displayed resiliency with private consumption benefiting from the lifting of restrictions.A continuation of the pace of recovery is uncertain,however,given the macro backd

34、rop.Mainland China Chinas economy has shown some improvements,aided by policy support and infrastructure spending by the government to stabilise the economy.Nevertheless,the recovery remains uneven amid the COVID impact,real estate sector challenges,and the external outlook.Singapore Domestic demand

35、 in Singapore has held up well but there are downside pressures from inflation and rising interest rates.Export-oriented industries face a more challenging situation given the macro headwinds.South Korea South Koreas export momentum is set to cool into 2023 due to a weakening global economy.As inter

36、est rates and inflation rise,domestic consumption is impacted.9 APAC Fit-Out Cost Guide 2022/2023 JLL Jakarta office by JLL Design Solutions10 APAC Fit-Out Cost Guide 2022/2023 APAC Fit-Out Cost Guide 2022/2023A sustainable and employee-focused workplace JLLs recent Future of Work survey revealed ho

37、w the role of office has changed over the last two years,forcing organisations to reimagine their workplaces.Technology is also playing an increasingly important role in boosting performance levels on all fronts.Our survey shows:Separately,our sustainability research reports that 60%of Fortune 500 c

38、ompanies have some climate or energy targets already in place.With increasing corporate commitments around net zero,organisations are being more selective when deciding what space to occupy.74%of organisations said they would be willing to pay a premium for leasing a building with leading sustainabi

39、lity or green credentials,and 22%said they already have.90%56%84%57%of respondents view workplace design as instrumental in enhancing employee engagement and wellbeing.of respondents plan to have open and collaborative office space with no dedicated areas by 2025.of respondents expect to change thei

40、r corporate real estate model by 2025 to a smaller headquarters with satellite offices.of respondents agree that office fit-outs and renovations should incorporate circular design principles.Source:JLL,The Future of Work Survey 2022 11 APAC Fit-Out Cost Guide 2022/2023 What is the impact of these fi

41、ndings on office design?As in previous years,we surveyed our market leaders to understand how client spending might change across a wide range of office fit-out components.We found increased likelihood to spend in areas associated with employee wellbeing and engagement,as evidenced by an intent to s

42、pend in improvements in amenities as the office pivots to become a destination for employees as part of their hybrid workstyle(an increase from 57%to 60%).This is mirrored by occupiers anticipating increased spend on achieving sustainability ratings(an increase from 70%to 80%)as part of their wider

43、drive towards sustainable design,meeting net zero commitments and meeting expectations of their employees that the workplace will contribute positive impact on the environment.The previous years focus on prioritising spend towards AV/IT solutions appears to have reduced.This doesnt imply that invest

44、ment in these areas has decreased,given the importance of these to enabling remote and hybrid working,but suggests that the drive for improved access to these technologies is a base requirement,and has to some extent become normalised.As evidence of the trend to shift offices toward more collaborati

45、ve environments,we see a reduction in spend on traditional office elements such as partitions.202220230%10%20%30%40%50%60%70%80%90%100%AV/ITInternal Air QualityM&E Data AnalyticsPartitionsPlantingMaterials SpecificationsAmenitiesFurniture Sustainability Ratings12 APAC Fit-Out Cost Guide 2022/2023 Gr

46、owth in spend on Sustainabilty elementsAs occupiers embed their sustainability commitments into design and the specification of spaces,there are indications of increased spending on elements that allow operation of buildings in a more carbon efficient manner.Elements including low energy appliances

47、and efficient lighting systems,and the provision of occupancy sensors to provide analytics for decision making.This is reported in the Future of Work Survey with Mainland China and other North Asian markets having a higher spend compared to the regional average.0%20%40%60%80%100%120%Onsite Energy Pr

48、oduction&StorageSourcing&Using Renewable EnergyLow Carbon Fit-Out MaterialsAdvanced Data AnalyticsEfficient HVACLow Energy AppliancesOccupancy SensorsEfficient LightingAustraliaChinaNorth AsiaSoutheast AsiaSouth AsiaAPAC AverageSource:JLL,The Future of Work Survey 2022 13 APAC Fit-Out Cost Guide 202

49、2/2023 Fitting out your office:How much will it cost?We have calculated fit-out costs for progressive,moderate and traditional styles and for various levels of specification or useNovo Nordisk,Jinan,Mainland China by JLL Design Solutions14 APAC Fit-Out Cost Guide 2022/2023 US$869US$1,159US$935US$1,2

50、47US$1,073US$1,430Base SpecificationDesigned to be low cost,with a simple aesthetic.Finishes focus on function.Space contains basic technology Medium SpecificationFeatures upgraded lighting,cabling and design.Uses average quality materials and detailsHigh SpecificationEmphasises top-quality finishes

51、 and space improvements.Increased effort spent on aesthetics and detail designSource:JLL,2022/2023TraditionalAround 30%of the floor plan is dedicated to enclosed offices.Traditional methods of working cover 90%of the floor area,with the balance given to meeting rooms and agile or collaborative work

52、zonesProgressiveOpen floor plan with no enclosed offices.Traditional benching is approximately 60%of the floor area,with the remaining space given to meeting rooms and agile or collaborative work zonesModerateSubstantially open plan with 10%enclosed offices.Traditional methods of working cover 70%of

53、 the floor area,with the balance given to meeting rooms and agile or collaborative work zonesUS$1,622US$1,746US$2,00215 APAC Fit-Out Cost Guide 2022/2023 APAC Fit-Out Cost Guide 2022/2023Breaking down whats involved Cost distribution has remained similar to the previous year.On average,moderate and

54、traditional fit-outs can cost up to 22%more than progressive fit-outs due to their greater sub-division of space.Builders work still accounts for the largest component(41%)of fit-out costs.Mechanical and electrical(M&E)works remains the second largest component of cost and represent one third of the

55、 total fit-out cost.The amount spent on audio visual(AV)and IT remains broadly stable y-o-y,continuing to reflect the evolution of hybrid and remote working and the technology needed to support this.M&E,Security,IT and AV costs continue to be heavily impacted by supply chain disruption,with lead in

56、times for key components becoming extended.Breakdown of average fit-out cost,based on progressive medium specification stylePreliminariesBuilders WorksM&E ServicesSecurity,IT&AVProfessional Fees20237%31%13%9%41%Source:JLL,2022/202316 APAC Fit-Out Cost Guide 2022/2023 Breakdown of average fit-out cos

57、t,based on progressive medium specification styleSource:JLL,2022/20230%10%20%30%40%50%60%70%80%90%100%PreliminariesBuilders WorksM&E ServicesSecurity,IT&AVProfessional FeesTokyo8%53%25%7%6%Taipei5%37%30%15%12%Tianjin3%34%44%8%11%Sydney8%42%13%11%25%Kuala Lumpur36%35%19%6%5%Manila36%30%7%18%9%Melbour

58、ne42%25%13%11%8%Mumbai44%33%11%4%9%Perth44%26%14%9%7%Pune32%12%5%45%5%Seoul19%10%39%27%5%Shanghai44%8%10%34%3%Singapore44%11%8%33%3%Canberra42%25%13%10%9%Chengdu34%44%8%11%3%Chennai45%33%12%5%5%Delhi45%33%11%4%7%Guangzhou42%31%11%7%8%Adelaide42%25%13%11%8%Ahmedabad45%34%12%4%5%Auckland38%18%15%14%15

59、%Bengaluru43%35%12%4%5%Bangkok41%34%10%11%4%Beijing34%44%8%10%3%Brisbane44%27%14%9%7%Hanoi25%23%9%6%36%Ho Chi Minh City25%23%9%7%36%Hong Kong32%13%8%8%39%Hyderabad34%13%4%5%43%Jakarta36%16%4%4%40%17 APAC Fit-Out Cost Guide 2022/2023 Understanding the impact of furniture costsThe type and quality of

60、office furniture is critical to transforming the workplace and pivoting towards a hybrid working solution.According to JLLs Future of Work Survey,56%of respondents believed that collaborative working is one of the primary purposes of office space.Therefore,the office space should be designed as a de

61、stination for employees as part of their hybrid workstyle,to encourage both new and current employees to spend time in the office.Furniture solutions that offer the flexibility of configuration help support collaborative working and are essential to achieve this goal.As in previous years,we have par

62、tnered with Haworth for indicative furniture costs.It is important to remember that furniture costs in the region vary for a wide variety of reasons,including:Companies corporate agreements with suppliers Strategies for workplace design,particularly the popularity of collaborative or activity-based

63、working and the blend between this and traditional workstations in more mature markets The nature of the business activity,including whether a market serves as a satellite or offshore location or as regional headquarters The use of imported furniture,and whether the furniture is sourced within Asia

64、Pacific or further field,which can substantially increase outlay and lead to exposure to currency volatilityJLL Beijing office by JLL Design Solutions18 APAC Fit-Out Cost Guide 2022/2023 Source:Haworth,2022Cost of furniture by market,US$per sqm.00500600SingaporeHong Kong SAR,ChinaMainland

65、 ChinaMalaysiaJapanAustraliaChinese Taipei(Taiwan)South KoreaNew ZealandPhillipinesThailandIndiaIndonesiaVietnamCost of furniture(US$per sqm)4030457348348650950919 APAC Fit-Out Cost Guide 2022/2023 Source:JLL,2022/2023Reinstatement costs by markets,US$per sqm321 0 100 200 300 4

66、00 500 600 700Australia409 Hong Kong SAR,China61 India118 Indonesia622 Japan239 South Korea213 Mainland China157 Malaysia334 New Zealand118 Philippines212 Singapore192 Chinese Taipei(Taiwan)105 Thailand90 VietnamReinstatement costsOur reinstatement costs cover only the capital cost of returning a si

67、mple office to a typical leased condition.Our costs include removing partitions and bespoke tenant fixtures and fittings,replacing ceiling tiles,repairing limited damage to walls,painting throughout and limited works to mechanical and electrical systems.We do not include the removal of special facil

68、ities such as data centres,kitchens or laboratories,reinstating internal stairs or costs associated with removing major mechanical and electrical equipment.20 APAC Fit-Out Cost Guide 2022/2023 Expectations of price movement 97%Increase3%No changeWhat lies ahead?Whilst most markets have returned to n

69、ormality,many continue to face challenges.Some of these challenges can be attributed to the legacy of the pandemic but others are due to the stronger global headwinds.Geopolitical tension has contributed to rising fuel prices and shortages in key materials such as timber.The economic impact of this

70、conflict will persist in the short to medium term.Interest rates are rising globally,and this adds to the cost of doing business.Financial stability of contractors and sub-contractors remains a concern in many markets risking further consolidation and a reduction in competition.Access to skilled and

71、 semi-skilled labour remains critical as competition for talent intensifies.For countries that rely heavily on migrant workers,the easing of border controls has alleviated this impact in the short term,but many markets still report shortages of labour domestically.Source:JLL,2022/2023More than 90%of

72、 the leaders across the region believe it will become more costly to fit-out an office in 2023.21 APAC Fit-Out Cost Guide 2022/2023 Material availability and disruptions in the supply chain continue to be the biggest cost drivers for 2023.The interconnectivity of the global supply chain,made apparen

73、t by the pandemic coupled with localised shutdowns in core manufacturing locations have had pan regional and global ramifications.In the meantime,the ongoing geopolitical tensions continues to disrupt the supply chain and drive up energy prices.Across many markets,contractors are seen to be revisiti

74、ng and reducing their overall margins as they compete for work in the short to medium term as demand wanes.Margin compression is a key factor in competitive markets such as Bangkok,Taipei and Tokyo.The risk of contractors under-pricing has increased substantially across many of the markets.Since con

75、tractors are heavily reliant on cashflow,they are at risk of underperforming,leading to poor quality workmanship,reliance on claims and,in extreme cases,insolvency.Volatility in tender pricing levels across Australian markets is expected to continue.The regional challenges are being further exacerba

76、ted by acute labour shortages as demand continues to exceed pre-pandemic levels.Moreover,contractors and subcontractors are adopting selective tendering and shortening tender validity periods,all of which contribute to the volatility of the market.However,further price increases will not be sustaina

77、ble,and many expect the market in Sydney to normalise and the current rate of price increases to moderate amidst talk of a recession.The situation is similar in Melbourne with the market stabilising as pent-up demand washes through and activity starts to slow.Whilst the labour shortage of the last t

78、wo years has abated in Singapore,the Singapore Government intends to make changes to the foreign workforce policies in 2024 as it strives to improve productivity in the sector and reduce the countrys dependence on foreign labour.The“local to foreigner”ratio will be reduced from 1:7 to 1:5,with addit

79、ional levies being introduced progressively until 2025.Even though this is introduced in conjunction with grants and incentives,this approach is likely to increase scarcity and lead to increased construction costs,at least until price stabilises by 2025/2026,since the sector relies heavily on import

80、ed labour.Japan continues to forecast a moderate increase in construction prices,but the fit-out sector remains relatively unaffected by rising raw material prices.Client sentiment in non-corporate sectors is positive,but work in the corporate sector is not expected to rise significantly.Hong Kongs

81、construction prices have remained steady over the previous years despite pandemic related cost drivers due to competition fueling margin compression.The recent easing of border restrictions is expected to ease pressure on construction costs and potentially reduce shipping costs.Fit-out costs in Bang

82、kok are expected to rise moderately due to increased competition.The anticipated completion of the major developments such as Phase one of One Bangkok and Dusit Central Park in 2023 is likely to lead to increased project volumes in a market that saw heavy right sizing during the pandemic.All of our

83、India cities are forecasting price increases in 2023.The factors for this mirror similar regional themes like increases in costs of labour,materials and transport.Increased competition and aggressive pricing of margins in smaller cities such as Ahmedabad where demand has declined,may help offset som

84、e of these price rises.22 APAC Fit-Out Cost Guide 2022/2023 JLL Gurgaon office by JLL Design SolutionsWhen will the cost of construction start to decrease?The region continues to wrestle with the multiple challenges brought upon largely by supply chain disruption,price inflation and labour shortages

85、.However,with current levels of price inflation considered“unsustainable”,the increased risk of occupiers potentially deferring projects will likely lead to a consequent softening of demand.That will ease pressure on the construction and labour market.Additionally,as the supply chain stabilises,the

86、re-evaluation of risk and uncertainty in raw material costs,availability of material and lead times can help reduce risk premiums which are currently included in tenders.JLL believes fit-out cost increases will moderate over the next 12 months as the current challenges start to unwind,unless a signi

87、ficant economic event flattens or reverses current trends.23 APAC Fit-Out Cost Guide 2022/2023 Methodology Our methodology is to take a standard fit-out project,and have it costed by our teams across the region so we can determine how prices in the different markets compare.We have covered 30 key ma

88、rkets for real-time fit-out costs in 2022/2023.About the template project Our template project draws reference from the progressive fit-out of the JLL Singapore office at Paya Lebar Quarter in one of Singapores latest commercial hubs.The office is Grade A in the Singapore market.Its floorplate is re

89、gular-shaped and used efficiently.Office specifications Approximately 46,000 square feet or 4,270 sqm Caters for about 1,000 people and provides for a wide range of work styles.Includes traditional benching,activity-based work spaces,self-contained furniture pods and other formats typically seen in

90、modern progressive offices.There are no dedicated offices Features a strong mix of formal and informal meeting spaces,and emphasises flexibility Handed over with a basic landlord fit-out comprising a raised floor;an accessible ceiling;and the distribution of heating,ventilation air-conditioning,ligh

91、ting,and fire and life-safety systems through the ceiling void The raised floor,accessible ceiling and services in the ceiling void all require adjustment to make them project-specific No special-use space such as kitchen,data centre,training rooms or auditoriums.So enhancement to M&E facilities or

92、floor loading over and above what might be provided as a standard Class A office is not consideredAssumptions A general contractor is appointed on a lump sum basis to carry out the full scope of the fit-out work The contractor has no design responsibility.The clients design consultant undertakes all

93、 the design tasksExclusions All costs and charges related to site preparation(strip-out and demolition),insurance,goods and services or value-added tax,sales tax,site acquisition,moving,financing,offset for landlord contributions,marketing and any local authority fees Contingency fees,which typicall

94、y account for up to 10%of project costs depending on a developers or occupiers risk appetite.24 24 APAC Fit-Out Cost Guide 2022/2023 Source:JLL,2022/2023 ProgressiveModerateTraditionalAdelaide1,9032,0432,367Ahmedabad710751831Auckland1,2811,4711,818Bangalore713752829Bangkok769833947Beijing1,0171,0631

95、,153Brisbane1,7981,9312,237Canberra1,9442,0872,418Chengdu9269681,051Chennai704743819Delhi782824908Guangzhou9651,0471,194Hanoi9019671,115Ho Chi Minh City8849501,095Hong Kong1,4021,5291,758Hyderabad735774853Jakarta8629141,042Kuala Lumpur1,0581,1371,344Manila9641,0791,270Melbourne1,8842,0232,344Mumbai8

96、59906997Perth1,7761,9072,210Pune703743823Seoul1,1181,1881,327Shanghai9731,0171,104Singapore1,2151,3221,554Sydney1,9472,0902,422Taipei1,1361,2431,424Tianjin9389811,065Tokyo1,9072,1442,599Fit-out costs by style Fit-out cost by style,medium specification(US$per sqm)25 AppendixAPAC Fit-Out Cost Guide 20

97、22/2023 Get in touchGavin MooreCost Management,Asia Pacific+65 8671 Nick LamCost Management,Hong Kong SAR,China+852 6219 Lili TaoSingapore and Southeast Asia+65 9624 5683Lili.TPhylicia CohenAustralia+612 9220 8631 Cindy LiMainland China+86 138 1731 Ashok VSCost Management,India+91 99 7203 Jun Miyamo

98、toJapan+81 3 5501 Reach out to our industry experts in the region and lets shine a new light on how to make the most of your workspace.26 APAC Fit-Out Cost Guide 2022/2023 APAC Fit-Out Cost Guide 2022/2023About JLL ResearchJLLs research team delivers intelligence,analysis and insight through market-

99、leading reports and services that illuminate todays commercial real estate dynamics and identify tomorrows challenges and opportunities.Our more than 400 global research professionals track and analyse economic and property trends,and forecast future conditions in over 60 countries,producing unrival

100、led local and global perspectives.Our research and expertise,fuelled by real-time information and innovative thinking around the world,creates a competitive advantage for our clients and drives successful strategies and optimal real estate decisions.Jones Lang LaSalle 2022 Jones Lang LaSalle IP,Inc.

101、All rights reserved.The information contained in this document is proprietary to Jones Lang LaSalle and shall be used solely for the purposes of evaluating this proposal.All such documentation and information remains the property of Jones Lang LaSalle and shall be kept confidential.Reproduction of a

102、ny part of this document is authorised only to the extent necessary for its evaluation.It is not to be shown to any third party without the prior written authorisation of Jones Lang LaSalle.All information contained herein is from sources deemed reliable;however,no representation or warranty is made

103、 as to the accuracy thereof.About JLLJLL(NYSE:JLL)is a leading professional services firm that specializes in real estate and investment management.JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities,amazing spaces and susta

104、inable real estate solutions for our clients,our people and our communities.JLL is a Fortune 500 company with annual revenue of$19.4 billion,operations in over 80 countries and a global workforce of more than 102,000 as of June 30,2022.JLL is the brand name,and a registered trademark,of Jones Lang L

105、aSalle Incorporated.For further information,visit .We thank Haworth International for providing us insights on furniture costs around the Asia Pacific region.JLL Offices in Greater ChinaBeijing8/F China Life Finance Centre No.23 Zhenzhi Rd,Chaoyang District Beijing 100026tel+86 10 5922 1300Chengdu29

106、/F Tower 1,Chengdu International Finance Square 1 Hongxing Road Section 3 Chengdu 610021,Sichuantel+86 28 6680 5000 fax+86 28 6680 5096Chongqing45/F Chongqing World Financial Center No.188 Minzu Road,Yuzhong District Chongqing 400010tel+86 23 6370 8588 fax+86 23 6370 8598GuangzhouRoom 2801-03 Guangz

107、hou CTF Finance Centre No.6 Zhujiang East Road Zhujiang New Town,Tianhe District Guangzhou 510623,Guangdongtel+86 20 2338 8088 fax+86 20 2338 8118HangzhouUnit 802 T2,Raffles City Hangzhou No.228 Xinye Road,Jianggan District Hangzhou 310000,Zhejiangtel+86 571 8196 5988 fax+86 571 8196 5966NanjingRoom

108、 2201 Deji Plaza Office Tower 18 Zhongshan Road Nanjing 210018,Jiangsutel+86 25 8966 0660 fax+86 25 8966 0663QingdaoUnit 2308 Tower A,COSCO Plaza 61 Hong Kong Middle Road,Shinan District Qingdao 266071,Shandongtel+86 532 8579 5800 fax+86 532 8579 5801Shanghai22/F HKRI Centre One,HKRI Taikoo Hui No.2

109、88 Shimen Yi Road,Jingan District Shanghai 200041tel+86 21 6393 3333 fax+86 21 6393 3080Shenyang21/F Shenyang Fortune Plaza Tower A,No.61 Beizhan Road,Shenhe District Shenyang 110013,Liaoningtel+86 24 3195 8555Shenzhen19/F Tower Three,Kerry Plaza 1 Zhongxinsi Road,Futian District Shenzhen 518048,Gua

110、ngdongtel+86 755 8826 6608 fax+86 755 2263 8966TianjinUnit 3408 The Exchange Tower 2 189 Nanjing Road,Heping District Tianjin 300051tel+86 22 5901 1999WuhanUnit 3908-09 Heartland 66 688 Jinghan Avenue,Qiaokou District Wuhan 430030,HubeiTel+86 27 59592100 Fax+86 27 59592155XianUnit 2202-03 CapitaMall

111、 Office No.64 West Section of South 2nd Ring Road,Yanta District Xian 710065,Shaanxitel+86 29 8932 9800 fax+86 29 8932 9801Hong Kong7/F One Taikoo Place 979 Kings Road Quarry Bay Hong Kongtel+852 2846 5000 fax+852 2845 9117 .hkMacauUnit H,16/F Finance and IT Center of Macau Nam Van Lake Quarteirao 5

112、 Lote A Macautel+853 2871 8822 fax+853 2871 8800 .moTaipei20/F-1 Taipei 101 Tower No 7 Xinyi Road Section 5 Taipei 11049,Taiwantel+886 2 8758 9898 fax+886 2 8758 9899 .twJones Lang LaSalle022 Jones Lang LaSalle IP,Inc.All rights reserved.All information contained herein is from sources deemed reliable;however,no representation or warranty is made to the accuracy thereof.JLL WJLL Mini Program