Office Market Report Vienna | Autumn 2022

Location searches increasingly focused on innovation and sustainability

The traditional office concepts with assigned workstations and little room for internal communication that defined most companies in earlier decades are currently being replaced by new working worlds in many companies. These innovative concepts are often aligned with ESG guidelines and characterised by flexibility, environmental awareness and a special focus on internal communication processes. Modern working concepts as a competitive advantage for recruiting Office space is becoming more individual, more comfortable and more digital. Today’s employers are paying greater attention to employees‘ wishes, and office space is now also designed with a closer focus on staff requirements. The pandemic has been a source of permanent change in the working world over the past two and a half years. The trend towards hybrid working has secured a firm position that will continue to expand in the future. The work-life balance is frequently a strong influencer, and many companies are offering working time models that include greater flexibility as a means of integrating this trend in their corporate culture.

Flexibility boosts employees‘ identification with the company and creates stronger ties in times where it has become increasingly difficult to retain qualified specialists and find new talents. Hybrid and distinctive new office construction as demand drivers starting in 2023 The lasting changes in daily work routines have created a greater awareness for the quality of physical office space. Project developers have, accordingly, increased their focus on the cons- truction of high-quality, architecturally modern and, above all, sustainable properties that meet the demands of the new office world. The next two years will see the completion of premium buildings like the VIO Plaza in Meidling, the Francis in the Althan Quartier, the Grand Central in Floridsdorf, the Urban Garden in the myhive am Wienerberg and the LeopoldQuartier close to Vienna’s city centre. These projects give future users a framework to realise flexible, innovative and sustainable office concepts at locations with perfect infrastructure.