The findings in a new RICS report show that when city policy makers align their policies to attract both employers and employees, businesses are more likely to locate there.
'Corporate Real Estate: Global Cities and Investment' collates findings from RICS discussion forums in nine global cities, and examines the factors which attract or deter corporates from locating their commercial and industrial space.
The report shows that while cities are competing across the globe to attract and retain companies' commercial and industrial sites, in many cases they fail to provide business with a coherent case to locate.
The consistent message coming out of the discussion forums is that the cities which will continue to flourish are those which understand the full range of business demands - a talent pool, good 'liveability', transport infrastructure, business-friendly tax and regulatory regime - and act accordingly.
The forum discussions also underline the value well-resourced real estate professionals can bring to corporates, and the need for best practice and innovation to be disseminated across the industry.
Tom Pienaar, Head of External Affairs at RICS, said: "Businesses are run and managed by people, and while factors influencing a business' cost base will always attract or deter it from locating, if talented people are attracted to a city this will help corporates to locate. The range of factors attracting corporates to locate are varied, but the challenge for cities is to join these different policy areas into one coherent offer to businesses.
"RICS, as the leading global body for land, property and construction, will continue to work with policy makers around the world to help develop these cohesive business and people-focused policies, which attract investment and are in everyone's interests."
Source: RICS
