Research

Asia Pacific
Fit-Out Cost Guide
2021/2022
China | December 2021
Content

This guide is interactive!

Click on the headings
03 05 07 09
to go straight to that section. Beyond the pandemic Key insights Fit-out costs across Cross-city comparison
To come back to this page, use Asia Pacific of fit-out costs
located in the top right corner
of each page.

10 13 17 18
Getting back up Hybrid working Finding the A closer look
on our feet and sustainability perfect fit for you at the costs
transforming office design

19 20 22 26
Understanding Reinstatement costs What lies ahead? Methodology
the impact of
furniture costs

27 28 29
Cost breakdown Fit-out costs Get in touch
by city by style
Beyond the pandemic
COVID-19 continues to strongly impact the real estate Improved regional mobility will alleviate skill shortages
and construction sectors in Asia Pacific. As individual in markets dependent on migrant labour. We also see
markets navigated their pandemic responses over a renewed commitment to spending on sustainability,
the last 12 months, common themes such as the along with the continued evolution of the office to
availability of skilled resources, material shortages and enhance the employee experience.
supply chain disruption have driven costs up across the
As you develop your capital plans, we hope that this
region in 2021. The extent to which the global supply
Fit-Out Cost Guide for 2021/2022 will provide you with
chain is interconnected has been made apparent by
some guidance on what you can expect, and help you
the pandemic and localised shutdowns now have
make informed decisions.
regional and global ramifications.
Please reach out to our professionals around
But there are signs of green shoots. Regional
the region for further information.
vaccination rates are rising while travel has resumed
with the gradual reopening of borders. There is
confidence that there is life beyond the pandemic Martin Hinge
as clients plan for 2022, with technology, banking, Executive Managing Director
insurance and pharmaceutical companies leading Project and Development Services
the way. JLL, Asia Pacific
Martin.Hinge@ap.jll.com
While many of the factors that drove construction costs
to increase in 2021, like supply chain disruption and
raw material increases, continue to be contributing
factors, there are signs that these are not necessarily
pandemic-related. As a semblance of normalcy returns,
pandemic responses are easing across the region. With
health and safety protocols in place, there is a lower
risk of lockdowns as a result of increased
vaccination rates.

3 | Asia Pacific Fit-Out Cost Guide 2021/2022

JLL Bangkok office
by JLL Design

4 | Asia Pacific Fit-Out Cost Guide 2021/2022

Key insights
We have collected fit-out cost data from over 30 cities in Asia Pacific. As the region grapples with the reopening of economies,
it sees a significant jump in pricing for 2021/2022 in office fit-outs.

US$1,109 Key developments this year include:

Average fit-out cost › The average fit-out cost rose 10.8% year-on-year (YoY). Most › Restrictions on power consumption and shortages of raw
per sqm* markets have reported price increases in 2021, reflecting the materials impacted costs in Mainland China were caused by
prevailing shortage in labour and raw materials, which was increasing coal prices and stringent emissions goals. China’s
further exacerbated by supply chain disruption and labour ongoing pursuit of COVID-19 elimination has also led to new
movement. These core themes are reflected in the responses restrictions to curb rising cases, with the impact felt not only
from all the cities surveyed. in China but also across the region.
› Tokyo remains the region’s most expensive market for › Indian cities also experienced a sharp increase in construction
fit-outs for the fifth consecutive year, despite a 1.3% YoY costs in 2021, particularly felt in the mechanical and electrical
10.8% decline in fit-out cost. Even though there was an increase
in the costs for raw materials and labour which have
(M&E) segment. The devastating impact of the second wave of
COVID-19 in the first half of 2021 led to a substantial reduction
Year-on-year change typically driven price hikes in previous years, went down and in the availability of domestic materials. As restrictions eased,
in average cost
contributed to the overall reduction. The gap between Tokyo the demand for materials rose, leaving suppliers struggling to
and the next closest markets, for example, has narrowed by respond quickly. This led to material shortages, which were
half with this marginal decline. worsened by the global impact on supply chains.
› Australian cities saw an average increase of 8% in local
currency terms. Already impacted by escalation in material
costs, Australia’s state-level COVID-19 response measures,
Tokyo including sporadic lockdowns and border closures, created
uncertainty on material lead times, hindered movement
Most expensive city of specialist trades within and across, state borders and
for fit outs
impacted project deadlines.

*This is based on progressive medium specification fit-out style

5 | Asia Pacific Fit-Out Cost Guide 2021/2022

› Aggressive competition has served to moderate
construction cost increases in several markets. In
Jakarta, the increase in material costs was offset
by the aggressive pricing from contractors eager
to secure work, leading to a modest YoY increase.
A similar theme was recorded in Shanghai and
Hong Kong, where the relative stability in the last
12 months — as a result of COVID-19 elimination
strategies and the calmer political situation (in the
case of Hong Kong) — boosted client confidence and
reversed the decline in construction costs from the
previous year.
› Client appetite for spending varies heavily across
the region. Southeast Asia has borne the brunt of
pandemic as the extended impact of the Delta variant
dented confidence and spending. New investment
decisions and significant Capital Expenditure (CapEx)
continued to be deferred in markets like Bangkok, Ho
Chi Minh City, Kuala Lumpur, and Manila although
there are signs that this is in the second half of 2021
› The Australian dollar, Chinese Yuan, Singapore Dollar
and the New Taiwan dollar grew stronger against the
USD in 2021. Depreciation of the Japanese Yen and
Sri Lankan Rupee against the USD offset increases
in tender prices locally, but mainly markets heavily
reliant on imported materials reported higher costs.
› Fit-out costs continue to vary widely across the
region, ranging from US$1,902 per sqm in Tokyo,
Japan to US$669 per sqm in Ahmedabad, India.
JLL Seoul office
by JLL Design

6 | Asia Pacific Fit-Out Cost Guide 2021/2022

Fit-out costs across
Asia Pacific Beijing 1,002

Shanghai
1,902 Tokyo
1,101 1,204 Seoul
947 Chengdu

751 Delhi Guangzhou

961
Hong Kong
669 Mumbai Hanoi 1,287 1,061 Taipei
Ahmedabad 755
828
814 Kolkata
718 Average 2021/2022
Pune 699 731 Hyderabad 962 Manila office fit-out cost in
Bangkok 740 US$ per sqm
691 Chennai
803
Bengaluru
806 993 Ho Chi Minh City
Kuala Lumpur
Colombo
Singapore 1,267

853

Jakarta

1,761 Brisbane
Fit-out costs rose across Asia Pacific,
especially in cities that rely heavily Perth 1,658 1,692 Sydney
on imported material.
1,705
Adelaide 1,772 Canberra 1,523
1,715
Melbourne Auckland

Source: JLL, 2021/ 2022 based on progressive medium specification fit-out style

7 | Asia Pacific Fit-Out Cost Guide 2021/2022

JLL Perth office
by JLL Design

8 | Asia Pacific Fit-Out Cost Guide 2021/2022

Cross-city comparison of
fit-out costs*
*Hong Kong is used as the baseline = 1.0

1.6
1.5
1.4 1.4
1.4 1.3 1.3 1.3
1.3
1.2
1.2
1.0 1.0
1.0 0.9 0.9
0.9 0.8
0.8 0.8 0.8 0.7
0.8 0.7
0.7 0.6 0.6 0.6
0.6 0.6
0.6 0.6 0.6 0.6
0.6 0.5 0.5 0.5

Ho Chi Minh City

0.4
Kuala Lumpur

Ahmedabad
Guangzhou
Asia Pacific

Hyderabad
Hong Kong
Melbourne

Bengaluru
Singapore

Shanghai
Auckland
Canberra

Colombo
Chengdu
Brisbane

Bangkok
Adelaide

Chennai

Mumbai
Kolkata
Jakarta
0.2
Sydney

Beijing

Manila
Taipei
Tokyo

Hanoi
Seoul
Perth

Delhi

Pune
0.0

Source: JLL, 2021/2022

9 | Asia Pacific Fit-Out Cost Guide 2021/2022

Getting back up
on our feet
The spread of the Delta variant, along with its Outlook for major markets in Asia Pacific
renewed restrictions, has largely dampened
office leasing activity and demand across Asia
Pacific. Markets with low vaccination rates or a Real GDP
Market Forecast for 2022
(y-o-y change)
low-tolerance approach to managing the spread
of COVID-19 will face particularly challenging 2021F 2022 Forecast
conditions. However, the most recent waves of
infection will eventually be brought under control Australia 2.9% 3.8% Landlord favourable market
and we expect leasing demand to quickly rebound
Mainland China 8.4% 5.8% Neutral market
when infection levels stabilise.
Hong Kong SAR, China 7.6% 3.4% Tenant favourable market
India 7.9% 7.5% Neutral market
Indonesia 3.3% 6.4% Tenant favourable market
Japan 2.4% 2.8% Tenant favourable market
Malaysia 3.5% 6.8% Tenant favourable market
New Zealand 5.4% 2.3% Tenant favourable market
Philippines 3.5% 7.5% Tenant favourable market
Singapore 6.4% 4.1% Landlord favourable market
South Korea 4.2% 3.5% Neutral market
Chinese Taipei (Taiwan) 6.4% 3.0% Landlord favourable market
Thailand 1.8% 6.0% Tenant favourable market
Vietnam 5.4% 7.5% Tenant favourable market
Source: JLL, Oxford Economics

10 | Asia Pacific Fit-Out Cost Guide 2021/2022

Key market-specific insights
Australia
Economy and labour markets appear
strong enough to weather short
lockdowns, but restrictions weighing on
consumption and services sector activity
will delay a swift recovery. Investment
is likely to remain solid, supported by
stimulus measures.
Hong Kong SAR, China
Domestic drivers are likely to boost the
economy with easing of containment
measures and the government
consumption voucher scheme
supporting household spending. A
global trade recovery is likely to help
sustain export momentum.
11 | Asia Pacific Fit-Out Cost Guide 2021/2022
India
Fiscal spending is likely to remain
elevated as the recovery is still prone
to setbacks, given the progress of the
nation’s vaccine rollout. Consumption
and investment should improve as
restrictions ease.
Indonesia
Prolonged lockdowns and slow
vaccination progress are set to weigh on
private consumption. The pace of fiscal
consolidation is likely to be slower than
anticipated as the government tries to
prop up the economy.
Japan
Private consumption is expected to
pick up as vaccinations rise, while
strong demand from foreign trading
partners should continue to bolster
manufacturing and export activities.
Mainland China
Household spending and business
investment will progressively move
to the fore. Exports are likely to be an
area of strength benefitting from a
positive global trade environment.
Singapore
Temporary restrictions are likely to delay
service sector recovery, but the brisk
pace of vaccination should see measures
gradually eased. Export momentum
remains positive.
South Korea
Expansionary fiscal policy and healthy
exports likely point towards a sustained
recovery. Private consumption may be
a weak spot.
JLL Seoul office
by JLL Design

12 | Asia Pacific Fit-Out Cost Guide 2021/2022

Hybrid working and sustainability
transforming office design
Many companies found success with the remote or
hybrid work model during the pandemic, and that
trend is now set to stay. A recent JLL survey showed
that APAC employees want to work remotely over
two days a week on average. This indicates that some
degree of flexibility for employees is here to stay
although corporates will adopt bespoke strategies
depending on business needs, employee sentiment,
location and many other factors.
Another area which corporates are focused on today
is sustainability. JLL’s responsible real estate survey
report showed that evolving and adapting the built
environment in sustainable and responsible ways
is creating upfront value for landlords, investors
and occupiers alike; especially in the form of risk
mitigation, potentially higher asset values and rents,
lower operational costs and a more productive work
environment attract and retain talent. The research
also shows that occupiers in Asia Pacific are ahead of
investors on sustainability ambitions, with seven in
10 willing to pay a premium to lease green
certified buildings.

Top sustainability features in office

Biophilia Water Workspace Energy Workspace
Office space with lots of conservation personalisation conservation personalisation
plants and outdoor space
Water recycling and water Intelligent windows to Artificial intelligence Personalised working space
like rooftop gardens etc.
treatment onsite personalise heat and for efficient and conditions like air
light levels energy consumption conditioner temperature etc.

Source: JLL, Sustainability in the built environment: An employee perspective

13 | Asia Pacific Fit-Out Cost Guide 2021/2022

Our Fit-out cost survey reiterated a similar view.
Firstly, when asked about spending increase for So, what will companies be spending
different components of the office fit-out, market
leaders reported higher spending over the next
more on?
12 months in areas of audio visual (AV), M&E,
sustainability, furniture, wellness facilities
and partitions.
What cost elements, based on current discussions with clients do
All of which drive towards three key
you foresee spending in the next 12 months?
approaches which companies have adopted
amid the pandemic:
100%
91%
› Continuation of the journey towards hybrid 90%
working through the increase in IT and 80%
AV budgets 70% 70%
70%
› Focus on employee safety and comfort 61%
60% 57%
through spending commitment on M&E and
sustainability ratings 50%
39%
› Increased spending on furniture and wellness 40%
facilities as the office pivots to a place of 30% 26%
collaboration and ideation 17%
20%

10%

0%
Audio visual M&E cost Sustainability Furniture Wellness Partition Material Planting
rating facilities specification
2021 forecast

Source: JLL, 2021/2022

Secondly, one-third of market leaders reported an increase in spending associated with sustainability as
clients start to identify how to meet their sustainability commitments, and engage employees to share their
vision. Below are some areas where market leaders are looking to increase their spending over the next
12 months to achieve sustainability ratings.

14 | Asia Pacific Fit-Out Cost Guide 2021/2022

 Which sustainable initiatives are companies
increasing spending on?
Areas where spending is increasing to achieve
sustainability commitments

Increased spending to improve internal comfort

75%
(sensors and filtration)

Using AI to drive efficient energy consumption 61%

Personalised or localised air-con control 48%

Biophilia 42%

Water treatment & recycling 35%

0% 10% 20% 30% 40% 50% 60% 70% 80%

Source: JLL, 2021/2022
Regional co-working service
provider, Singapore
JLL Project management

15 | Asia Pacific Fit-Out Cost Guide 2021/2022

Global corporate, fiduciary,
and fund administrator,
Singapore office
by JLL Design

16 | Asia Pacific Fit-Out Cost Guide 2021/2022

Finding the perfect fit for you
Matrix of 2021/2022 average fit-out costs by style and design complexity

Progressive Moderate Traditional

We have calculated fit-out costs
for progressive, moderate and
traditional styles and for various
levels of specification or use.
• Open floor plan with no • Substantially open plan with • Around 30% of the floor plan is
enclosed offices. 10% enclosed offices. dedicated to enclosed offices
• Traditional benching is • Traditional methods of working • Traditional methods of working
approximately 60% of the cover 70% of the floor area cover 90% of the floor area
floor area. • Remaining space for meeting
• Remaining space for meeting
• Remaining space for rooms and agile or collaborative rooms and agile or collaborative
meeting rooms and agile or work zones. work zones.
collaborative work zones.

Base Specification
• Low-cost design, with a
simple aesthetic
US$832 US$901 US$1,034
per sqm per sqm per sqm
• Finishes focus on function
• Basic technology

Medium Specification
• Features upgraded lighting,
cabling and design. US$1,109 US$1,201 US$1,378
per sqm per sqm per sqm
• Uses average quality materials
and details

High Specification
• Top-quality finishes and space US$1,552 US$1,681 US$1,929
improvements. per sqm per sqm per sqm
• Increased effort spent on aesthetics
and detailed design
Source: JLL, 2021/2022

17 | Asia Pacific Fit-Out Cost Guide 2021/2022

A closer look
at the costs
Cost distribution has held steady from the previous year. Breakdown of average fit-out cost, based on progressive
› On average, moderate and traditional fit-outs can cost medium specification style
up to 24% more than progressive fit-outs as greater
sub-division of space impacts the construction cost.
› Builders’ work continues to account for the largest
Preliminaries
component (~40%) of fit-out costs.
› M&E works remain the second largest component of cost Professional Fees
6%
and represents one-third of the total fit-out cost.
› The amount spent on AV and IT remains stable, following
10%
last year’s increase, reflecting the continued evolution Security, IT & AV
of the workplace to support hybrid work. Furthermore,
as the appetite for extensive AV technology increases, 12%

2021
clients should allocate additional allowances for AV and
M&E Services Builders Works
IT components beyond the basic costs suggested.
31% 41%

Source: JLL, 2021/2022

18 | Asia Pacific Fit-Out Cost Guide 2021/2022

Understanding the impact of
furniture costs
The type and quality of office furniture is critical to optimising Cost of furniture by market, US$ per sqm.
the effectiveness of a workplace and defining the appropriate
style; it also affects the employee experience. As companies Sri Lanka 676
continue to adapt to hybrid working models, furniture solutions Indonesia 445
Vietnam 445
offering flexibility of configuration and supporting collaborative
India 427
working play a central role. In particular, there has been an Thailand 422
increased demand for phone booths and meeting pods driven Philippines 406
New Zealand 395
by the need for privacy for video calls which have become
South Korea 392
commonplace since the pandemic. Chinese Taipei (Taiwan) 388
Australia 370
Japan 366
As in previous years, we have partnered with Haworth for Singapore 354
indicative furniture costs in the region. These may vary for Hong Kong, Greater China 353
a wide variety of reasons, including: Mainland China 348
Malaysia 343

› Companies’ corporate agreements with suppliers

› Strategies for workplace design, particularly the popularity
of collaborative or activity-based working and the blend
between this and traditional workstations in more
mature markets
› The nature of the business activity, including whether a
market serves as a satellite or offshore location or as
regional headquarters
› The use of imported furniture, and whether the furniture
is sourced within APAC or outside the region, which can
substantially increase the cost (also from currency volatility)

Source: Haworth, 2021

19 | Asia Pacific Fit-Out Cost Guide 2021/2022

Reinstatement costs
Our benchmark reinstatement costs cover only the capital cost of returning a simple office to a typical leased condition.
Our costs include removing partitions and bespoke tenant fixtures and fittings, replacing ceiling tiles, repairing limited damage to walls, painting and limited works
to M&E systems. They do not include the removal of special facilities such as data centres, kitchens or laboratories, reinstating internal stairs or removing major
mechanical and electrical equipment.

Reinstatement costs by markets, US$ per sqm

800 722

700

600
475
500

400
270 283
262
300 204 203
165 181
159
200 127
100 101
81
58
100

Australia Mainland Hong Kong India Indonesia Japan Malaysia New Philippines Singapore South Sri Chinese Thailand Vietnam
China SAR, China Zealand Korea Lanka Taipei
(Taiwan)

Source: JLL, 2021/2022

20 | Asia Pacific Fit-Out Cost Guide 2021/2022

Regional co-working service
provider, Singapore
JLL Project management

21 | Asia Pacific Fit-Out Cost Guide 2021/2022

What lies ahead?
As markets return to some form of normality, it remains to be seen whether the recent price
increases will be sustained or stabilise in the coming years. The divergent COVID-19 response
strategies across the region, whether endemic or elimination, suggest very individual recoveries,
More than 80% of market leaders across
making it difficult to pinpoint fit-out cost trends. While we believe that fit-out costs will rise in the region believe it will become more
most markets over the next 12 months, we have summarised key points that will influence cost costly to fit out an office in 2022.
going forward.

Price increase Price decrease Expectations of price movement

› Continued restrictions around deployment › Weaker demand for office space or a higher
of labour, particularly for markets which rely volume of renewals reduces overall volume of Uncertain at this time

heavily on foreign labour
› COVID-19 response measures, including
ad hoc lockdowns, vaccine mandates and
mandated health and safety measures,
which could reduce either the available
workforce or the number of workers onsite
› Seeking alternative sources of materials to
10%
work, which may lead to aggressive pricing as
contractors seek to remain competitive
› The practicalities of social distancing leading
to more efficient construction programmes as No change
works in ‘live’ environments decreases
› Shift to procurement models that allow for 7%
maximum levels of competition

2022
mitigate risks of supply chain disruption
› Transfer of COVID-19 related risk through
the supply chain as it no longer becomes an
unforeseeable risk in building contracts
Increase
› Expected inclusion of sustainability
measures, driven both by employee 83%
experience and corporate policy

Source: JLL, 2021/2022

22 | Asia Pacific Fit-Out Cost Guide 2021/2022

 › Material availability, skills shortages and disruption
in the supply chain are predicted to be the biggest
cost drivers for 2022.
› The trend of contractors to revisit and reduce their
overall margins as they compete for work in the
short to medium term is set to continue in 2022
across most of our markets. This often serves
to balance out cost increases in other aspects;
examples including increases in Health and Safety
costs in Manila, estimated at 1-2% of CapEx, costs of
material deliveries in Seoul or labour cost increases
in Beijing, Guangzhou and Shanghai.
› The labour shortage has reached critical levels in
some markets. In Singapore, policies to permit
entrants from key labour markets such as India and
Bangladesh cannot come soon enough. As demand
increases, availability of experienced contractors
willing to participate in tenders continues to
decrease as a result of the constraints on the labour
force, impacting tender returns.
› Health & Safety continues to be a factor cited for
increasing costs across the region from Auckland
to Guangzhou. However the normalisation of the
impacts of these costs across the region suggests
that the impact of these will decrease during 2022.
JLL Perth office
by JLL Design
› The forecast for Japan remains uncertain. However,
following the 2021 elections the expectation is that
investment will continue to grow and workload will
increase, especially in attractive investment
markets such as Tokyo and Osaka. Of particular
note has been the increase in spending on
sustainability-related projects.
› Hong Kong has experienced relative political and
economic stability in 2021. This has led to increased
confidence, increased business and consequently,
higher construction costs. An anticipated worker
salary review in 2022 is likely to see a more
significant uplift to salary benchmarks than
previous years, which would likely fuel an increase
in labour costs.
› Fit-out costs in Bangkok are expected to continue to
rise as the country starts to open up. The prolonged
downturn and weakened client sentiment had
led to contractors right-sizing their operations,
but further reductions in costs are unsustainable
without a significant drop in material costs.

23 | Asia Pacific Fit-Out Cost Guide 2021/2022

 › While Taipei foresees costs remaining generally › All Indian cities are forecasting increases in
stable in 2022, there remains risk that without 2022. The factors follow similar regional themes,
stabilisation of supply chains, there will be with increases in costs of labour, materials and
continued upward pressure on prices, particularly transport. Increased competition and aggressive
for M&E trades in the short term. Contractors pricing of margins in cities such as Pune, where
may also be reluctant to extend the validity of contractors are chasing reduced work, may offset
tender prices. A booming construction market some of these price hikes.
and large infrastructure projects, such as Terminal
3 at Taoyuan Airport, coupled with increasing
construction labour shortages may, however, cause
some short-term increases.
› Melbourne, similar with other Australian cities,
forecasts price rises during 2022. However, the
reduction of complex projects in ‘live’ environments
has served to offset some price increases through
more efficient construction programmes
and preliminaries.
› The recent award of the 2032 Olympics to Brisbane,
along with the successful COVID-management
strategy, has boosted local confidence and
continues to fuel an increase in projects. The
shorter-term impact of materials and labour
shortages could potentially be exacerbated by
longer-term increases in major infrastructure
projects to support the Games.

JLL Bangkok office

by JLL Design

24 | Asia Pacific Fit-Out Cost Guide 2021/2022

Financial services
provider, Singapore
by JLL Design

25 | Asia Pacific Fit-Out Cost Guide 2021/2022

Methodology
Our methodology is to take a standard fit-out
project, and have it costed by our teams across the
region so that we can determine how prices in the
different markets compare. We have covered 31 key
markets for real-time fit-out costs in 2021/2022.
About the template project
› Our template project draws reference from
the progressive fit-out of the JLL Singapore
office at Paya Lebar Quarter in one of
Singapore’s latest commercial hubs. The
office is ‘Grade A’ in the Singapore market.
Its floorplate is regular-shaped and
used efficiently.
26 | Asia Pacific Fit-Out Cost Guide 2021/2022
Office specifications Assumptions
› Approximately 4,270 sqm or 46,000 sqft. › A general contractor is appointed on a lump
sum basis to carry out the full scope of the
› Caters for about 1,000 people and provides
fit-out work.
for a wide range of work styles. Includes
traditional benching, activity-based work › The contractor has no design responsibility.
spaces, self-contained furniture pods and
› The client’s design consultant undertakes all
other formats typically seen in modern
the design tasks.
progressive offices. There are no
dedicated offices.
Exclusions
› Features a strong mix of formal and informal › Additional costs associated with workplace
meeting spaces, and emphasises flexibility. re-entry, incuding enhanced wayfinding /
advisory signage.
› Handed over with a basic landlord fit-out
comprising a raised floor; an accessible ceiling; › All costs and charges related to site
and the distribution of heating, ventilation air- preparation (strip-out and demolition),
conditioning, lighting, and fire and life-safety insurance, goods and services or
systems through the ceiling void. value-added tax, sales tax, site acquisition,
moving, financing, offset for landlord
› The raised floor, accessible ceiling and services
contributions, marketing and any local
in the ceiling void all require adjustment to
authority fees.
make them project-specific.
› Contingency fees, which typically account for
› No special-use space such as kitchen, data
up to 10% of project costs depending on a
centre, training rooms or auditoriums.
developer’s or occupier’s risk appetite.
Enhancement to M&E facilities or floor loading
over and above what might be provided as a
standard Class A office is not considered.
Cost breakdown by city
Cost breakdown for a progressive medium specification fit-out style by city
Adelaide 9% 40% 24% 14% 13%
Ahmedabad 4% 46% 34% 11% 5%
Auckland 10% 41% 24% 13% 12%
Bengaluru 4% 44% 37% 11% 5%
Bangkok 7% 44% 38% 7% 5%
Beijing 5% 33% 43% 8% 12%
Brisbane 8% 38% 26% 14% 13%
Canberra 8% 40% 26% 12% 13%
Chengdu 3% 41% 38% 9% 9%
Chennai 4% 49% 34% 10% 4%
Colombo 4% 47% 34% 12% 4%
Delhi 4% 48% 34% 10% 4%
Guangzhou 8% 42% 30% 12% 8%
Hanoi 7% 33% 29% 18% 13%
Ho Chi Minh City 5% 33% 30% 19% 13%
Hong Kong 4% 38% 38% 15% 6%
Hyderabad 4% 45% 37% 10% 4%
Jakarta 4% 40% 36% 16% 4%
Kolkata 4% 48% 34% 10% 4%
Kuala Lumpur 3% 37% 34% 20% 6%
Manila 7% 39% 27% 8% 18%
Melbourne 9% 43% 23% 11% 15%
Mumbai 3% 46% 37% 10% 4%
Perth 7% 42% 27% 11% 13%
Pune 4% 45% 35% 11% 5%
Seoul 5% 39% 26% 20% 10%
Shanghai 3% 32% 42% 8% 15%
Singapore 2% 32% 42% 12% 11%
Sydney 8% 43% 24% 11% 14%
Taipei 3% 38% 35% 13% 11%
Tokyo 7% 46% 31% 9% 8%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Preliminaries Builders Works M&E Services Security, IT & AV Professional Fees Source: JLL, 2021/2022

27 | Asia Pacific Fit-Out Cost Guide 2021/2022

Fit-out City
Adelaide
Progressive
1,705
Moderate
1,870
Traditional
2,172

costs by Ahmedabad
Auckland
669
1,523
709
1,706
785
2,037

style Bengaluru
Bangkok
Beijing
691
740
1,002
731
797
1,056
807
887
1,143
Brisbane 1,761 1,935 2,254
Canberra 1,772 1,949 2,275
Chengdu 947 1,001 1,099
Medium specification Chennai 731 769 843
(US$ per sqm) Colombo 806 840 912
Delhi 751 791 870
Guangzhou 961 1,032 1,161
Hanoi 828 883 984
Ho Chi Minh City 803 855 951
Hong Kong 1,287 1,384 1,568
Hyderabad 718 757 833
Jakarta 853 904 1,031
Kolkata 755 792 870
Kuala Lumpur 993 1,076 1,297
Manila 962 1,086 1,293
Melbourne 1,715 1,891 2,215
Mumbai 814 857 940
Perth 1,658 1,819 2,116
Pune 699 740 819
Seoul 1,204 1,278 1,429
Shanghai 1,101 1,146 1,236
Singapore 1,267 1,382 1,655
Sydney 1,692 1,862 2,180
Source: JLL, 2021/2022
Taipei 1,061 1,145 1,326
Tokyo 1,902 2,186 2,730
28 | Asia Pacific Fit-Out Cost Guide 2021/2022
Get in touch
Please reach out to our professionals around the region to find out
how we can help you achieve your ambitions.

Gavin Moore Ashok VS

Asia Pacific India
+65 8671 7815 +91 99 7203 2962
gavin.moore@ap.jll.com ashok.vs@ap.jll.com

Cindy Li Darren Wee

China Singapore and Southeast Asia
+86 138 1731 1916 +65 6494 3966
cindy.li@ap.jll.com darren.wee@ap.jll.com

Nick Lam Jun Miyamoto

Hong Kong Japan
+852 6219 3197 +81 3 5501 9222
nick.lam@ap.jll.com jun.miyamoto@ap.jll.com

Phylicia Cohen
Australia
+612 9220 8631
phylicia.cohen@ap.jll.com

JLL Bangkok office

by JLL Design

29 | Asia Pacific Fit-Out Cost Guide 2021/2022

 About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and
investment management. JLL shapes the future of real estate for a better world by using
the most advanced technology to create rewarding opportunities, amazing spaces and
sustainable real estate solutions for our clients, our people and our communities. JLL is a
Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries
and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a
registered trademark, of Jones Lang LaSalle Incorporated. For further information,
visit jll.com.

About JLL Research

JLL’s research team delivers intelligence, analysis and insight through market-leading reports
We thank Haworth International for and services that illuminate today’s commercial real estate dynamics and identify tomorrow’s
providing us insights on furniture costs challenges and opportunities. Our more than 400 global research professionals track and
around the Asia Pacific region. analyse economic and property trends, and forecast future conditions in over 60 countries,
producing unrivalled local and global perspectives. Our research and expertise, fuelled
by real-time information and innovative thinking around the world, creates a competitive
advantage for our clients and drives successful strategies and optimal real estate decisions.

Jones Lang LaSalle © 2021 Jones Lang LaSalle IP, Inc. All rights reserved. The information contained in this document is proprietary to Jones Lang LaSalle and shall be used solely for the purposes
of evaluating this proposal. All such documentation and information remains the property of Jones Lang LaSalle and shall be kept confi dential. Reproduction of any part of this document is
authorized only to the extent necessary for its evaluation. It is not to be shown to any third party without the prior written authorization of Jones Lang LaSalle. All information contained herein is
from sources deemed reliable; however, no representation or warranty is made as to the accuracy thereof.
JLL Offices in Greater China
Beijing Hangzhou Shenyang Xi’an Taipei
11/F Unit 802 Room 1762 Unit 2202-03 20/F-1
China World Tower A T2, Raffles City Hangzhou Fortune Plaza Tower A CapitaMall Office Taipei 101 Tower
1 Jianguomenwai Avenue No. 228 Xinye Road No.61 Beizhan Road, Shenhe District No.64 West Section of No 7 Xinyi Road Section 5
Beijing 100004 Jianggan District Shenyang 110013 South 2nd Ring Road Taipei 11049
tel +86 10 5922 1300 Hangzhou 310000 Liaoning Yanta District, Xi’an 710065 Taiwan
fax +86 10 5922 1330 Zhejiang tel +86 024 3105 4699 Shaanxi tel +886 2 8758 9898
tel +86 571 8196 5988 tel +86 29 8932 9800 fax +886 2 8758 9899
Chengdu fax +86 571 8196 5966 Shenzhen fax +86 29 8932 9801 www.jll.com.tw
29/F, Tower 1 19/F
Chengdu International Finance Square Nanjing Tower Three, Kerry Plaza Hong Kong
1 Hongxing Road Section 3 Room 2201 1 Zhongxinsi Road, Futian District 7/F
Chengdu 610021, Sichuan Deji Plaza Office Tower Shenzhen 518048 One Taikoo Place
tel +86 28 6680 5000 18 Zhongshan Road Guangdong 979 King’s Road
fax +86 28 6680 5096 Nanjing 210018 tel +86 755 8826 6608 Quarry Bay
tel +86 25 8966 0660 fax +86 755 2263 8966 Hong Kong
Chongqing fax +86 25 8966 0663 tel +852 2846 5000
45/F, Chongqing World Financial Center Tianjin fax +852 2845 9117
No.188 Minzu Road, Yuzhong District Qingdao Unit 3408 www.jll.com.hk
Chongqing 400010 Unit 2308 The Exchange Tower 2
tel +86 23 6370 8588 Tower A, COSCO Plaza 189 Nanjing Road, Heping District Macau
fax +86 23 6370 8598 61 Hong Kong Middle Road Tianjin 300051 Unit H, 16/F
Shinan District, Qingdao 266071 tel +86 22 5901 1999 Finance and IT Center of Macau
Guangzhou Shandong Nam Van Lake Quarteirao 5 Lote A
Room 2801-03 tel +86 532 8579 5800 Wuhan Macau
Guangzhou CTF Finance Centre fax +86 532 8579 5801 Unit 3202-03 tel +853 2871 8822
No.6 Zhujiang East Road Ping An Finance Center fax +853 2871 8800
Zhujiang New Town, Tianhe District Shanghai 1628 Zhongshan Avenue, Jiang’an www.jll.com.mo
Guangzhou 510623 22/F District
Guangdong HKRI Centre One, HKRI Taikoo Hui Wuhan 430014, Hubei
tel +86 20 2338 8088 No.288 Shimen Yi Road, Jingan District tel +86 27 5959 2100
Shanghai 200041
JLL Wechat JLL Mini Program
fax +86 20 2338 8118 fax +86 27 5959 2144
tel +86 21 6393 3333
fax +86 21 6393 3080

joneslanglasalle.com.cn