With hybrid working continuing as the norm, and in the midst of a mighty construction boom, cities worldwide find themselves heaped with vacant offices.
image: for illustration
… About 105m square ft of office space is vacant…
Construction writes:
Cranes are popping up in plenty of major cities across the world, yet existing buildings have never looked emptier. This is the reality for global capital cities that are experiencing huge construction projects whilst simultaneously plenty of office buildings are continuing to remain empty and/or disused. About 105m square ft of office space is vacant across the UK in particular, according to the latest figures from CoStar, a property analytics provider. In addition, in April 2023, the company reported that this volume of space is an increase of 68%….
Construction priorities shift with hybrid working patterns
The Times recently reported that this is possibly the highest level ever recorded as reduced demand from businesses clashes with a construction boom…
More globally, vacant office space in the US accounts for 17.8% of all offices, which is the highest figure recorded since the 1990s…
Adapting existing buildings?
Industry professionals have considered how technology and rapidly advancing AI could cater well to the construction boom. However, the issue of vacant buildings leaves questions over what purpose they serve, or if they could be adapted to suit a different need…
