"While this appears to be stating the obvious, the scope forsavings runs far beyond the simple reduction of rental costs," saysPhil Simpson, international director of corporate solutions at JLL."Many corporations have been focusing their time and resources onshort-term measures to avoid capital expense and accumulateobjective savings and this immediately restricts their ability toaddress more fundamental approaches that bring in longer-termsrewards. There are other more significant measures thatcorporations can explore to reduce their real estate costs in thelong run such as restructuring and rationalizing portfolios,improving procurement processes and contract management, andre-engineering the property administration process."

Data for this issue of the CREIS has been obtained from over 50corporate real estate executives drawn from a wide spectrum ofindustries. Approximately 42% of respondents were in the financialsector, 38% from the IT and Oil & Petroleum sectors and theremaining 20% from Communications and Business Services sectors.The respondents employ a total of more than 240,000 staff in theAsia Pacific region and occupy approximately 6.5 million squaremeters of office accommodation. Other key CRE issues and megatrends highlighted in the survey results include:

--CRE is increasingly being recognized as a specialistdiscipline, with most occupiers seeking to implement CRE strategiesat a regional or sub-regional level;

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