Knight Frank has recently launched its Global Cities: The 2018 Report, which looks into the continuous trends in real estate across 40 Global Cities. It aims to provide occupiers and investors with insights for future real estate decisions.
Part of the report analyses the cost of office space in the tech and creative districts of the world’s 29 leading cities. Shoreditch (London) is identified as the world’s most expensive tech district with intense demand for office space, pushing rents as high as US$90.75 per sq ft.
The Mid-Market in San Francisco follows close behind with rents reaching US$77 per sq ft and Silicon Docks in Dublin with rents up to US$76.30. Bangkok’s CBD incliding Rama 1, Sathorn and Sukhumvit Soi 21 (US$74.25) and Zhongguancun in Beijing (US$55.05) are the only two tech districts in Asia Pacific on the top 10 list.
KL’s Cyberjaya (US$11.55) on the other hand, offers some of the most competitive rents compared to the rest of the Global Cities. Datuk Zainal Amanshah, CEO of InvestKL states: “MNCs are starting to immerse in the digital economy in a big way and KL’s dynamic eco-system is digitally ready in terms of talent, choice of business hubs, key stakeholders support and cost. The city continues to attract FDIs to join the long list of MNCs that have called KL their digital and regional hubs.”