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Design Haven with ZOLIJNS Furniture

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Zolijns, the furniture boutique offering premium contemporary European furniture and accessories, introduces an avant-grade bookshelf collection of briccole and oak wood. Continue Reading →

Living room ideas in Apartments

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We all know that an apartment is a self-containing housing unit that occupies only a part of a building. We know of starting families who lives in apartments while waiting or preparing to have their dream homes built. Continue Reading →

Major Cities Will See Office Rentals Grow

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A recent report from commercial estate agent Knight Frank shows that some of the world’s major cities will see substantial growth in the office rentals sector by the time we reach 2019. This will be largely due to the continued economic recovery, as well as the development of new technologies.

The report shows that the highest levels of growth will be seen within the top 15 countries, which will all record double digit growth in their office rental market over the coming five years. This increase in demand will require further developments to be built in order to accommodate the needs of businesses. With space at a premium in the large cities, skyscrapers will increasingly be used to make the best use of the available areas.

As businesses become more positive and the global recovery continues, we will see more companies expanding their businesses. Many of these will look to move or increase their office space, particularly in the major cities. This growth will combine with the launch of new technologies, which will see more companies emerging.

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Key cities

The cities that will see the highest levels of growth are hotspots for some of the world’s well known brands. They are looking for workers with the right skills and knowledge to help grow their businesses. In order to take advantage of this, they will usually focus their activities around certain cities that are known for specific industries. For example, San Francisco will see the largest growth in the upcoming five years. Office rentals here will increase by 36.2%, largely driven by the continued dominance of Silicon Valley in the tech market.

Two of the biggest winners will be Madrid and Singapore, who will climb up the top 10. They are likely to see growth figures of 28.7% and 25% respectively. Sandwiched in between will be New York, with an increase of 28.2%. New developments in this city will be mainly focused on the Brooklyn area, which has seen high levels of investment.

Other global cities in the top 10 will also see double digit growth figures. This includes Sydney (22.3%), Washington (19.6%), London (16.3%), Mumbai (14.9%), Tokyo (13.4%) and Mexico City (10.6%).

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Reduction in vacancies

One of the benefits of this increased demand for space in key cities will be a decrease in the number of empty offices. Even with a number of new developments, there will still be a fall in the amount of offices available, reducing those that remain vacant. Across the top 10 there will be an average vacancy rate of 6.3%. Two of the best performing cities will be London with a rate of 4.4% and Tokyo at 3.9%. In London, for those looking for office space London Bridge, the City and the Docklands in the East will continue to be important areas.

As office rentals continue to increase in these key cities, it will also provide a boost for the emerging cities. With investors look for new areas, places such as South Africa and Dubai will benefit significantly.

Remodeling of Master Bathroom

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Master bathrooms are often an extension of a home’s master bedroom; they’re typically located within or adjacent to the master bedroom. We need more space. That’s one thing most everyone can agree on when evaluating their current bathroom. Continue Reading →