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Office refurbishment rates must double: JLL
Date: 7 October 2011
Category: Market Watch
Landlords in Europe must beef up their annual 1-2% rate of office refurbishments to about 5% very soon to meet carbon reduction targets, Bill Page, head of EMEA offices research at Jones Lang LaSalle, told PropertyEU at Expo Real. Even in the City of London - one of the most advanced markets in Europe - the annual refurbishment rate currently stands at only 2.7-2.8%.
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