Grand Paris Office Crane Survey
The volume of office space under construction in “La Metropole du Grand Paris” has risen by nearly 20% in the six months to the end of Q3 2016, consequently the total amount being built has exceeded 1.5 million sq m.
The Grand Paris Office Crane Survey published by Deloitte records all office constructions and completions in Paris and the inner suburbs “La Métropole du Grand Paris” between 1 April 2016 and 30 September 2016. The survey includes all speculative office schemes of more than 1,000 sq m which (a) are currently under construction or undergoing comprehensive refurbishment, or (b) have been completed since our last publication. The data is provided by Explore and the survey is supported by Business Immo.
31 new schemes started in this survey contributing circa 500,000 sq m to the development pipeline. This level is remarkably high with total construction exceeding the historical average. For the 4th consecutive survey we have recorded increased development activity in the inner Paris zone, now accounting for close to 40% of total construction activity. Tenant demand for new space has returned having been restrained for a number of surveys. Twenty-three occupiers have been identified in this survey, bringing the total leasing activity to nearly 400,000 sq m representing 41% of space let.