‘One size does not fit all’: An introduction to going global

Abstract

One of the key challenges facing corporate real estate executives today is how to balance and manage their needs and expectations when expanding into international markets. The fundamental dynamic is how to align their real estate strategy with their business objectives and navigate the cultural, business process and transactional nuances, customs and practices overseas. The intention of this paper is to highlight some of the key challenges and differences across markets that are critical to the decision-making process for lease transactions as occupiers consider international expansion; such as varying business and market practices, cultures, metrics, lease terms and provisions. Furthermore, some key areas of local real estate practices that need to be taken into account once a particular market is chosen for the expansion will be outlined. There will be particular focus on the EMEA and Asia-Pacific regions and, more specifically, a number of comparable differences in the transaction process between New York, London, Hong Kong and Paris will also be outlined.