Record levels of activity have been registered in the real estate outsourcing market over the last twelve months according to new analysis by CBRE, the global real estate advisor.
CBRE’s Global Corporate Services Division reports that there was a 40% increase in 2013 (from 2012), with 120 ‘Requests for Information’ [“RFIs”] or ‘Requests for Proposals’ [“RFPs”] from EMEA corporates stating their intention to outsource all or part of their real estate function.
The financial services sector continues to be the most active in the real estate outsourcing arena, accounting for 27% of new RFPs and RFIs received in 2013, with the technology and telecoms, and automotive and industrial sectors each accounting for an additional 18%.
CBRE’s analysis reveals that the vast majority, 72%, of new outsourcing mandates issued in 2013 were multi-national with corporates seeking cross-border advice across their portfolios. Over a third, 34%, were global with corporates seeking to outsource real estate services across their entire portfolios. This follows the long-term trend, observed by CBRE, of corporates seeking to manage their real estate portfolios on a global or pan-regional basis, as opposed to country-by-country in order to drive efficiencies.
Mark Caskey, EMEA Head of Global Corporate Services, CBRE said:
“2013 has seen unprecedented levels of activity in the real estate outsourcing arena. We registered a record number of wins and continued to successfully retain our long term clients across EMEA. With many corporates still delivering much of their real estate and facilities functions in-house, there is still huge potential for market growth this year and beyond.
“It is clear, specialist real estate advice is becoming crucial for corporates as they plot their entrance into new markets, seek to drive portfolio efficiencies, and ensure they have the right space in the right places to achieve their business objectives. We are now operating in an environment in which many multi-national companies seek cross-border advice and service delivery, this is enabling us to capitalise given we service occupier needs in 41 EMEA countries including our affiliates.”