NGKF Global Tenant Representation Country Guide

GLOBAL TENANT REPRESENTATION.

1. United States

2. United Kingdom

3. Africa

4. Argentina

5. Australia

6. Austria

7. Belgium

8. Brazil

9. Cambodia

10. Canada

11. Chile

12. China

13. Colombia

14. Czech Republic

15. Finland

16. France

17. Germany

18. Greece

19. Hong Kong

20. India

21. Indonesia

22. Ireland

23. Israel

24. Italy

25. Japan

26. Malaysia

27. Mexico

28. Middle East

29. The Netherlands

30. New Zealand

31. Peru

32. Poland

33. Portugal

34. Romania

35. Russia

36. Singapore

37. South Korea

38. Spain

39. Sweden

40. Taiwan

41. Thailand

42. Turkey

43. Vietnam

44. Global Summary

CONTENTS

TRACK RECORD

Havas worldwideAcquired 260,000 sf urban corporate campus in New York, successfully consolidating the media and creative agencies into the same building

BoxAcquired over 334,000 sf HQ office space for their Redwood City campus to accommodate their growth strategy whilst terminating 130,000 sf of existing leases and subleasing 81,000 sf of surplus premises

Bloomberg L.P.Acquired 700,000 sf New York headquarters, designed to the firm’s specifications. Provided strategic advice based on New York-area real estate portfolio, employee location and projected growth. Consolidated four inefficient facilities, saving $6 million

Citigroup

The Blackstone Group

PricewaterhouseCoopers

The Interpublic Group of

Companies Inc.

Orrick, Herrington & Sutcliffe LLP

Panasonic

UNITED STATES

KEY FACTS

Population: 300 million

Local time: GMT -5 hours (New York)GMT -8 hours (Los Angeles)

Currency: US Dollar (USD or US$)

Quoted Rent: USD per sf per year (gross)

Typical Lease Term: New York: 10 to 15 years

Average Class A Rent: New York: US $58.00 per sf per year (gross)San Francisco: US $63.00 per sf per year (gross)Chicago: US $27.00 per sf per year (gross)Washington DC: US $37.00 per sf per year (gross)Atlanta: US $21.00 per sf per year (gross)

Fees: The landlord pays. Fees vary from state to state and can be percentage of rent or fixed rate per sf

Rent Escalation: Typically 2 - 3 fixed rent “step-ups” in a 10-year lease. Operating expenses and taxes are set at a base level and increased annually at an agreed upon index

Newmark Grubb Knight Frank has over 100 offices in the United States

01

TRACK RECORD

M&G InvestmentsAdvised M&G Investments, a Prudential plc company on a 330,000 sf pre-let acquisition in the City for a new London HQ. The deal was the largest leasing deal in the City of London for 4 years

Estee LauderAdvised Estee Lauder Companies on a 152,000 sf pre-let acquisition of their new UK HQ in the West End of London. The accommodation comprises both office and retail space and was the largest deal for 10 years in the W1 sub-market

Fieldfisher

The Bank of Tokyo-Mitsubishi UFJ

Investec

Stephenson Harwood

Guardian Media Group

Trowers & Hamlins LLP

ASOS

Sapient

Jefferies

Freshfields Bruckhaus Deringer LLP

United Kingdom

The tenant representation contact in the UK is:

Bradley Baker

Bradley Baker has over 25 years experience in Central London tenant representation

Birmingham

Leeds

Manchester

LondonBristol

Newcastle

Glasgow Edinburgh

Aberdeen

KEY FACTS


Local time: New York + 5 hours

Currency: British Pound (£)

Quoted Rent: £ per sf per year (net)

Typical Lease Term: 15 years

Average Class A Rent: City of London: £58.50 per sf per yearWest End: £85.00 per sf per yearDocklands: £45.00 per sf per year

Fees: The tenant pays. Typically 10% of the first years rent. Discounts for larger assignments. Fees can also be a fixed rate, incentivized, or a combination of both

Rent Escalation: Typically, five year rent review to open market value. Rents are reviewed “upwards only,” meaning that if the market rent is lower than the rent paid at time of review, rent does not go down but remains the same

VAT: 20%, but some buildings may be excluded and not charge VAT

Knight Frank has thirteen offices in the United Kingdom in:AberdeenBirminghamBristolCardiffEdinburghGlasgowLeedsLondonLondon, West EndManchesterNewcastleSheffieldThames Gateway

02

TRACK RECORD

Barclays BankActed on the valuation of its properties in Africa for over 10 years. Advised on acquisitions and disposals

US Department of StateUndertaken 18 site searches within African cities for new embassy compounds and undertaken 35 appraisals. Project managed a new 60-unit housing compound in Nairobi on a build-to-lease basis

CitiAcquired 35,000 sf of office space in Lusaka, Zambia

Tullow Oil 32,000 lease renegotiation for existing office premises in Kampala, Uganda

World Bank (UN) Acquisition of 23,000 sf of office space in Dar es Salaam, Tanzania

Actis

Barclays Bank

Citigroup

ExxonMobil

Foreign and Commonwealth Office

Standard Chartered Bank

Africa

The tenant representation contact in Africa is:

Peter Welborn

Peter Welborn has been at Knight Frank for 36 years and heads the Africa operation. Mr. Welborn has worked in the vast majority of capitals in North, Central and Southern Africa and lived in West Africa from 1979 to 1988

SouthAfrica

Zimbabwe

ZambiaMalawi

Tanzania

KenyaUganda

Botswana

Nigeria

KEY FACTS

Population: 1.4 billion

Local time: New York + 5/6/7/8 hours

Currency: Local but often US Dollars

Quoted Rent: Various

Typical Lease Term: 1 - 5 years

Average Class A Rent: Various

Fees: The landlord pays. Typically fees increase with period of the lease

Rent Escalation: 10%

VAT: Varies 7.5% to 22%

Knight Frank has nineteen offices in nine countries in Africa:BotswanaKenyaMalawiNigeriaSouth AfricaTanzaniaUgandaZambiaZimbabwe

03

TRACK RECORD

Exxon MobilAcquisition of 200,200 sf at 295 Juana Manso St and Bank Boston Tower in Beunos Aires. Renegotiated lease contracts, saving 17% annually for the next 3 years

AstellasAcquisition of 67,000 sf of Class A office space in Buenos Aires

Johnson MedicalAcquired 7,000 sf office space on a 5-year lease in Beunos Aires

Morgan Stanley

Cameron

WPP/MEC

FIAT

Avenida

Caputo Constructora

ARGENTINA

The tenant representation contact in Argentina is:

Domingo Speranza

Domingo has 20 years of experience serving local and regional multinationals in Buenos Aires and across Argentina

KEY FACTS



Currency: Pesos Argentinos (AR$)

Quoted Rent: US$ or AR$ per sqm per month


Average Class A Rent: Buenos Aires: US$ 27 per sqm per month

Fees: The tenant pays. Typically 1 month’s rent

Rent Escalation: CPI (US index)

VAT (if applicable): 21%

Newmark GrubbKnight Frank has one officein Argentina:Buenos Aires

Buenos Aires

04

TRACK RECORD

PanasonicTenant representation for Sydney HQ, and facilities in Melbourne, Brisbane and Adelaide. Project management of fit-out works

RabobankNegotiation of agreement for lease over 107,600 sf Sydney office, and project management of fit-out works

OptusNegotiation of agreement for lease over 64,600 sf Brisbane office, and project management of fit-out works

Fujitsu

Crown Castle

SKM (Jacobs)

LinkedIn

Carnival Australia

Australia

The tenant representation contact in Australia is:

John Preece

John is the national director of the Australian corporate services team, with over 17 years of experience in corporate real estate

New Delhi Sydney

ParramattaNewcastle

Brisbane

Darwin

Gladstone

Melbourne

Adelaide

Perth

Mackay

Cairns

Townsville

North Sydney

Hobart

Canberra

Geelong

Wagga Wagga

Strathpine

RockhamptonFraser Coast

Launceston

West Sydney

Glen Waverley

Gold Coast

KEY FACTS

Population: 22.7 million


Currency: Australian Dollars (Au$)

Quoted Rent: Au$ per sqm per year


Average Class A Rent:Sydney – Au$875 per sqm per year (gross)Melbourne – Au$610 per sqm per year (gross)Brisbane – Au$675 per sqm per year (gross)Perth – Au$800 per sqm per year (gross)Canberra – Au$430 per sqm per year (gross)Adelaide – Au$490 per sqm per year (gross)

Fees: The tenant pays. Typically a fixed fee paid in phases

Rent Escalation: Fixed percentage (circa 4%) or occasionally CPI-linked annual increase, plus periodic market reviews on longer leases

VAT: GST at 10%

Knight Frank has twenty four offices in Australia:AdelaideBrisbaneCairnsCanberraDarwinFraser CoastGeelongGladstoneGlen WaverleyGold CoastHobartLaunceston

MackayMelbourneNewcastleNorth SydneyParramattaPerthRockhamptonStrathpineSydneyTownsvilleWagga WaggaWest Sydney

05

TRACK RECORD

UBSRenewal of 16,100 sf in the City Center of Vienna

KONEAcquisition of 43,100 sf of office space for headquarters and sale of old property

Continental Acquisition of two premises totaling 70,000 sf of office space

Vaillant

Sky

TCHIBO/EDUSCHO

Samsubg

City of Vienna

AustrIA

The tenant representation contact in Austria is:

Alexander Fenzl

Alexander has 10 years of experience in tenant representation, and is the head of the commercial agency team

Vienna

KEY FACTS



Currency: Euro (€)

Quoted Rent: Euro per sqm per month


Average Class A Rent: EURO 13.00 per sqm per month

Fees: The tenant pays. Typically 2 months’ gross rent

Rent Escalation: Rents are adjusted according to the consumer price index (CPI)

VAT: 20%

Project Partner - Otto Immobillen has one office in Austria:Vienna

06

TRACK RECORD

Acted for major New York-based bank in the relocation of its 110,000 sf headquarters in the Leopold District of Brussels

Cultural Center of KoreaAdvised Korean Government authorities to lease a visible office surface of 14,100 sf in the European capital

AvayaTenant representation services to initially find office space in the Brussels market, and in 2014 renegotiated a space reduction to 17,800 sf

European Judicial Training NetworkAdvised on optimizing its office space of 6,500 sf in the European District of Brussels

PwC

Credit Suisse

Nokia Siemens Solutions

Alcoa

Alexion

Arcadis

Interpol

Belgium

The tenant representation contact in Belgium is:

Jean-Philippe Charon

Jean-Philippe Charon has over 5 years of experience in the Belgian real estate market representing multinational clients in Europe

Brussels

KEY FACTS




Quoted Rent: Euro per sqm per year

Typical Lease Term: 9 years with an option to break after 6 and/or 3 years. A lease longer than 9 years will be considered “droit immobilier” (real property right) and needs to be passed by a notary

Average Class A Rent: Brussels: € 265 - € 285 per sqm per year

Fees: The tenant pays. Typically 15% of the first years rent

Rent Escalation: Rent is adjusted annually based on the “health” index (corrected CPI)

VAT: Currently at 21%. Rent payments on office buildings are not subject to VAT

Knight Frank has one officein Belgium:Brussels

07

TRACK RECORD

NestléRenewal and acquisition totaling 750,000 sf of office space in São Paulo

BMSAcquisition of 53,000 sf for new headquarters in São Paulo

PhilipsAcquisition and relocation of headquarters totaling 65,000 sf

SonyAcquisition and relocation of headquarters in São Paulo totaling 70,000 sf

EricssonRenewal of 120,000 sf of office space for headquarters in São Paulo

Metlife

NSN

Pernod Ricard

Tarpon

Audatex

Brazil

The tenant representation contact in Brazil is:

Marina Cury

Marina has extensive tenant representation experience representing multinational companies in Brazil

São Paulo Rio de Janeiro

Brasília

KEY FACTS



Currency: R$ (Reais)

Quoted Rent: R$ per sqm per month


Average Class A Rent:São Paulo and Rio de Janeiro USD 50 per sqm per month (net)

Fees: The tenant pays. Typically 1 – 2 months’ rent depending on the size of the project

Rent Escalation: Rents are adjusted according to the Index IGPM (inflation)

VAT: N/A

Newmark GrubbKnight Frank has three officesin Brazil:BrasiliaSao PauloRio de Janeiro

08

TRACK RECORD

ManulifeAcquired 10,100 sf of office space with signage rights in Phnom Penh

BayerAcquired 4,300 sf of office space in Phnom Penh

AIA

Prudential

World Bank

Big C (Groupe Casino)

Parkson

Carrefour

Cambodia

The tenant representation contact in Cambodia is:

Anna Maria Fomin

Anna Maria has over 20 years of experience representing tenants in established and emerging markets in the office, retail and industrial sectors

KEY FACTS



Currency: US$ and Khmer Riel

Quoted Rent: US$ per sqm per month (net)


Average Class A Rent: Phnom Penh: $25 per sqm per month (net)

Fees: The landlord pays. Typically 1 month’s gross rent for a 3-year lease and 2.75% of the total lease value over 3 years

Rent Escalation: Fixed for 2 to 3 years and typically reviewed to market rent upon renewal of the lease agreement

VAT: 10%

Knight Frank has one officein Cambodia:Phnom Penh

Phnom Penh

09

TRACK RECORD

Canadian Standards AssociationExclusive advisor for nearly 1 million sf of office and laboratory testing facilities

Livingston InternationalExclusive advisor and strategic partner for a portfolio of 150 locations representing over 2 million sf of customs brokerage, operations and logistics facilities

Yellow Pages GroupExclusive advisor for a growing portfolio of over 100 office facilities representing over 1 million sf

Associated Engineering

ABB

Bell Canada

Business Development Bank

of Canada

Golder Associates

Lafarge North America

National Bank of Canada

Thales Group

Minacs Aditya Birla

Commonwealth Insurance

London Property Corporation

Skypower Global

Government of Ontario

CANADA

The tenant representation contact in the Canada is:

Patrick Langdon

Pat Langdon, Vice President/National Director of Business Development, is a veteran of over 24 years of real estate consulting, advisory and brokerage services

Toronto

Vancouver

OttawaMontréal

Calgary

KEY FACTS


Local time: New York (no time difference)

Currency: Canadian Dollar (CAD)

Quoted Rent: CAD per sf per year (gross)

Typical Lease Term: Toronto: 5 - 10 years

Average Class A Rent: Toronto:CAD $49.00 per sf per year (gross)

Fees: The landlord pays. Typically a fixed rate per sf or percentage of rent

Rent Escalation: Typically 2 - 3 fixed rent “step-ups” in a 10-year lease. Operating expenses and taxes are set at a base level and increased annually in accordance with CPI

VAT: N/A

Newmark Grubb Knight Frank has five offices in Canada: CalgaryMontrealOttawaTorontoVancouver

10

TRACK RECORD

Jacobs EngineeringAcquired 75,000 sf for office relocation

ScotiabankDisposition of 94,000 sf of Class A office space

TEVA/LAB ChileSale and partial leaseback of 310,700 sf of office and warehouse space

AMEC

Bayer

Becton Dickinson

Delta Air Lines

Unilever

Wells Fargo

Chile

The tenant representation contact in Chile is:

Patrick Quijada

Patrick Quijada has more than 10 years of experience in commercial real estate in Chile

KEY FACTS



Currency: Chilean Peso (CLP)(based on rate of UF)

Quoted Rent: UF per month per sqm

Unidad de Fomento (UF): The UF is an artificial currency that adjusts daily to inflation, based on the change in CPI from the previous month


Average Class A Rent: Santiago: 0.60 UF

Fees: The tenant and landlord pay. Typically 2% of the total lease contract

Rent Escalation: Rents are not indexed as the UF system adjusts to inflation

VAT: 19%

Newmark GrubbKnight Frank has one officein Chile:Santiago

Santiago

11

TRACK RECORD

Baker Hughes Secured 44,100 sf of office space for HQ in Guohua Investment Plaza, Beijing

Da Cheng Law FirmSecured 129,100 sf of office space for HQ in Parkview Green Building, Beijing

Volkswagen New Mobility Secured 3 new offices: 1,900 sf in Wuxi, 2,300 sf in Suzhou and 2,800 sf in Nanjing

International Paper

Grace

Unicharm

Wrigler

DeNa

Charles & Keith

Lend Lease

CHINA

The tenant representation contact in China is:

Graham Zink

Graham Zink has over 12 years of experience in real estate, with particular focus on the China market

Shanghai

Beijing

Guangzhou

KEY FACTS



Currency: Yuan (CNY) or Renminbi (RMB)

Quoted Rent: RMB per sqm per day or month (gross)


Average Class A Rent: Beijing - RMB 379 per sqm per month (gross)Shanghai - RMB 271 per sqm per month (gross)Guangzhou - RMB 178 per sqm per month (gross)

Fees: The landlord pays. Typically a fee of 1 month’s rent

Rent Escalation: Fixed for the term of the lease, but capped increases common on options to extend

VAT: N/A

Knight Frank has three offices in China: Beijing GuangzhouShanghai

12

TRACK RECORD

AIG – Shared ServicesAcquired 75,400 sf of new office space in Bogota

Teradata12,900 sf office expansion in Bogota

General ElectricAcquired 37,700 sf for new office HQ in Bogota

DDBAqcuired 19,400 sf of new office space in Medellin

Verizon

Tata Consultancy Services

Unilever

Otis

Wells Fargo Bank

Natura

Colombia

The tenant representation contact in Colombia is:

Juan Pablo Jiménez

Juan Pablo Jiménez has vast experience in the Colombian market, particularly with international corporate clients

KEY FACTS


Local time: New York (no time difference)

Currency: Colombian Peso (COP$)

Quoted Rent: COP$ per sqm per month


Average Class A Rent: Bogota: COP $70,000 per sqm per month

Fees:The tenant and landlord pay. Typically 2 months’ rent

Rent Escalation: Typically CPI + 2%

VAT: 16%

Newmark GrubbKnight Frankhas two offices in Colombia: BogotaCali

Bogotá

Cali

13

TRACK RECORD

Komercní banka/Société GénéraleAcquired 151,000 sf for new HQ

ŠkoFIN / VOLKSWAGEN groupRenegotiated of the existing lease totaling 64,300 sf

Wall Street Systems / ION TradingExpansion of 12,350 sf in city center

Deutsche LeasingRelocation to space totaling 7,170 sf

Telefonica

UniCredit Bank

BULL

AutoCont

Intel

Algotech

Cedok

Czech Republic

The tenant representation contact in Czech Republic is:

Jirí Linhart

Jiri Linhart has over 14 years of experience in representing tenants and providing real estate and related services to corporate clients across the Czech Republic

Prague

KEY FACTS



Currency: Czech Crown (CZK)

Quoted Rent: Euro (€) per sqm per month


Average Class A Rent: Prague: €15.00 €16.50 per sqm per month

Fees: The tenant pays. Typically 10 - 14% of first year’s rent

Rent Escalation: Typically, rents are indexed annually (upwards only) based on the Harmonised Indices of Consumer Prices (HICP) EU

VAT: 21%

Knight Frank has one officein Czech Republic:Prague

14

TRACK RECORD

Marioff CorporationAcquisition process for a planned fire test center option to acquire additional land for warehouse and office use in Helsinki Metropolitan Area

Carrier Corp.Advisory and relocation process of office and warehouse premises in Helsinki and Turku

Siemens Enterprise CommunicationsAdvisory and office relocation process in Espoo, Helsinki Metropolitan Area

Avaya BearingPoint Bentley Systems Booz Allen Hamilton Cisco Systems Ebookers/Orbitz Worldwide Epson Europe Greenpeace Norden Hewlett-Packard Honeywell McCann Worldgroup J. Walter Thomson QlickTech LDS Church Lexmark Nokia Solutions and Networks Nokia Sun Microsystems

Finland

The tenant representation contact in Finland is:

Kai Savasti

Kai Savasti has over 20 years of experience in all aspects of commercial real estate brokerage in Finland

Helsinki

KEY FACTS




Quoted Rent: EUR per sqm per month

Typical Lease Term: Typically 3 - 5 years. Newly built offices require a longer lease commitment, usually 7 - 10 years

Average Class A Rent: Helsinki: EUR 25.85 per sqm per month

Fees: The tenant pays. Usually a success fee based on a percentage of annual rent

Rent Escalation: The CPI index based on official statistics, produced by Statistics Finland, is mostly used.

VAT: 24%

Project Partner - Real Estate Consulto has one officein Finland:Helsinki

15

TRACK RECORD

NSNAcquisition of 33,100 sf of HQ office space in Paris near La Defense

MoneygramAcquisition of 12,800 sf HQ office space in Paris located in the heart of the CBD area

AvayaRenegotiated lease for its Paris HQ, occupying 18,500 sf

Bank of America Merril LynchRenegotiated 19,000 sf lease for Paris HQ located on avenue Kléber

Cohen & Gresser

Blackstone

RGP

UNIFY

Aurel BGC

FRANCE

The tenant representation contact in France is:

Aymeric Sevestre

Aymeric Sevestre has 15 years of experience in commercial property, specializing in the Paris Central Business District

Paris

KEY FACTS




Quoted Rent: Euro per sqm per year (net)

Typical Lease Term: 9 years, with tenant-only break options every three years

Average Class A Rent: €750 per sqm per year

Fees: The tenant pays. Typically 15% of 1 year’s rent

Rent Escalation: Rent is adjusted annually base on the ILAT index

VAT: Currently 20% and payable on all forms of transactions including rent, services charges and agent’s fees but it is not paid on the property transactions after tax

Knight Frank has one officein France:Paris

16

TRACK RECORD

PWCAcquired 775,000 sf of office space in Frankfurt, the largest transaction completed in Germany in the last few years

KfWLease renewal and expansion totaling 236,800 sf of office space in Frankfurt

Lufthansa Air PlusAcquired 255,100 sf office space in the “MAC,” Frankfurt Airport

Stadt Frankfurt

ICBC

Lufthansa AG

Deutsche Post

Frankfurter Sparkasse

Germany

The tenant representation contact in Germany is:

Elvin Durakovic

Elvin Durakovic is Partner and Managing Director of the Frankfurt office and has more than 18 years of experience in tenant representation

Frankfurt am Main

Berlin

Munich

KEY FACTS




Quoted Rent: Euro per sqm per month (net)

Typical Lease Term: 5 years for an existing building; 10 years for a new development

Average Class A Rent: Frankfurt €34.00 - €38.00 per sqm per monthMunich €27.00 - €31.00 per sqm per monthBerlin €18.00 - €23.00 per sqm per month

Fees: The landlord pays. Typically a fee of 3 months’ gross rent

Rent Escalation: Rent is adjusted annually based on the cost of living index or compounded annually

VAT: Currently 19% payable on all forms of transactions including rent, building service changes, agent fees, notary costs and property transactions after costs and after tax

Knight Frank has three offices in Germany: FrankfurtMunichBerlin

17

TRACK RECORD

UnifyRelocation of HQ totaling 64,600 sf of office space

NokiaAcquisition of 10,764 sf in Marousi

MoneygramRelocation of the company’s offices and full fit-out assignment of the new space in Agia Paraskevi

American College of GreeceMarket due diligence, valuation and negotiation services for the establishment of a new student accommodation building

Piraeus Bank

Pangaia

LDS

Vodafone

Bluehouse Capital

Secure Capital

Hines

Locros

GREECE

The tenant representation contact in Greece is:

Anna Nazou

Anna is a founding partner of RealAct Ltd., with 13 years of experience in Greek commercial real estate

Athens

KEY FACTS




Quoted Rent: Euro (€) per sq m per month (gross)

Typical Lease Term: 3 years minimum

Average Class A Rent: Athens: € 12 - € 15 per sqm per month

Fees: The landlord and the tenant pay. Typically 1 month’s rent

Rent Escalation: Escalation is linked to the Greek CPI or CPI plus 1 percentage point per annum

VAT: VAT on commercial leases or stamp duty of 3.6%

Project partner - Real Act Group has one office in Greece:Athens

18

TRACK RECORD

China Construction Bank 360,000 sf acquisition in 18 Kowloon East

Credit Agricole Bank180,000 sf banking merger, acquisition and disposal into One and Two Pacific Place, Admiralty

Pacific Century Insurance GroupConsolidated and expanded operations into one large premises over 150,000 sf with signage rights

BBH

BGC Capital

Cantor Fitzgerald

GoPro

Jefferies

L’Oreal

Stadt Frankfurt

HONG KONG

The tenant representation contact in Hong Kong is:

Nelson Lam

Nelson Lam has over 27 years of experience in the Hong Kong property market and extensive experience in major tenant representation mandates

Hong Kong, China

KEY FACTS



Currency: Hong Kong Dollar (HKD)

Quoted Rent: HKD per sf per month


Average Class A Rent: HKD 69.6 per sf net per month

Fees: The landlord pays. Typically the fee of 1 month’s rent

Rent Escalation: Open market review after three years

VAT: N/A

Knight Frank has one office in Hong Kong

19

TRACK RECORD

BayerOver the last 10 years, acted for Bayer in over 150 transactions totaling 150 million sf of office and lab space across India

TCS (Tata Consultancy Services)Consolidated operations in NCR, Delhi region, by acquiring 1 million sf of office space across two locations

Time Analytical Services Acquired 125,000 sf for office consolidation and expansion in Bangalore

Clariant

Hitachi

Chrysler

Isuzu

Ingersoll Rand

Temasek

Firmenich

Quick Heal

Crest

Faurecia

Onmobile

FMC

INDIA

The tenant representation contact in India is:

Viral Desai

Viral Desai has 13 years of experience in commercial real estate and leads tenant representation in India

Mumbai

Pune

Bangalore Chennai

Delhi

Hyderabad

Kolkata

KEY FACTS


Local time: New York + 10.5 hours

Currency: Indian Rupee (INR)

Quoted Rent: INR per sf per month

Typical Lease Term: 5 years (with 36 months lock-in period)

Average Class A Rent: Mumbai – INR 120 per sf per monthDelhi – INR 68 per sf per monthPune – INR 40 per sf per monthBangaluru – INR 55 per sf per monthChennai – INR 45 per sf per monthHyderabad – INR 40 per sf per month

Fees: India is a dual representation market in most cases. Brokerage can be collected from the landlord and tenant.On a transaction, fees would be up to 2 months’ rent

Rent Escalation: Usually 15% every 3 years

VAT: Service tax of 12.36% is levied. Properties in Special Economic Zone (SEZ) are exempted

Knight Frank has seven offices in India: BangaloreKolkataChennaiDelhiHyderabadMumbaiPune

20

TRACK RECORD

HSBCAcquired 320,000 sf for HSBC Group

Shell IndonesiaSourcing and acquiring gas station sites in Jakarta, Surabaya, Medan and Bandung on an ongoing basis

Kondur PetroleumWorkplace strategy planning and tenant representation services for 215,000 sf of HQ office relocation in Jakarta

Caterpillar Asia Pte LtdRepresented tenant in office site search for Jakarta head office relocation of 17,000 sf

Indonesia

The tenant representation contact in Indonesia is:

Sindiani Surya Adinata

Sindiani Surya Adinata has over 17 years of experience in the Indonesian property market, with specific focus on strategic consultancy and corporate real estate

Jakarta

KEY FACTS



Currency: Indonesian Rupiah (IDR)

Quoted Rent: IDR per sqm per month (net)


Average Class A Rent: IDR 302,800 per sqm per month

Fees: The landlord pays. The fees of 3-5% of the total value of the lease contract for a new relocation or acquisition. Tenant pays the fees of 1 month gross rent for lease renewal

Rent Escalation: The landlord pays. The fees of 3-5% of the total value of the lease contract

VAT: 10%

Knight Frank has one officein Indonesia:Jakarta

21

TRACK RECORD

eBay / PayPalAcquired over 500,000 sf of offices over a 10-year period

KPMGAdvised on lease renegotiations on KPMG’s 120,000 sf Irish headquarters

Tullow OilAcquisition of 75,000 sf for new headquarters

Danone

Dole Food Company

BioMarin Pharmaceuticals

Qualtrics

Aspen Pharma

Partner Re

National Bank of Canada

Mitsui Sumitomo Reinsurance

IRELAND

The tenant representation contact in Ireland is:

Declan O’Reilly

Declan is the leading specialist office agency adviser in Ireland, with transactions in excess of 5 million sf, including many of the largest office transactions in the country’s history

Dublin

KEY FACTS




Quoted Rent: EUR per sf per year

Typical Lease Term: Typically 10 years, or longer term with 10-year break options. Earlier break options negotiable in some instances

Average Class A Rent: €42.00 - €45.00 per sf per year

Fees: The tenant pays. Typically a base fee plus an incentivized basis

Rent Escalation: N/A

VAT: N/A

Knight Frank has one office in Ireland: Dublin

22

TRACK RECORD

OracleRenewal, co-location and acquisition of office space totaling 92,500 sf

eBayAcquisition of 102,300 sf in Netanya

Avaya86,100 sf co-location in Tel Aviv

Autodesk26,900 sf relocation of its international flagship offices

CadencePetach Tikva – 53,800 sf co-location of 2 very separate business units

Israel

The tenant representation contact in Israel is:

Marla Oddes

Marla Oddes has 15 years of experience in commercial real estate and tenant representation in Israel

Tel Aviv

KEY FACTS



Currency: New Israeli Shekel (NIS)

Quoted Rent: NIS per sqm per month

Typical Lease Term: 5 - 10 years, quoted on gross rental basis, exclusive of VAT

Average Class A Rent: 100 - 140 NIS per sqm per month (gross)

Fees: The tenant pays. Typically 10 % of 1 year’s rent

Rent Escalation: In most leases, rent is linked to Israeli CPI, which is published on a monthly basis

VAT: 18%

Project partner - Natam Commercial has one office in Israel: Tel Aviv

23

TRACK RECORD

Qlik Acquired 8,600 sf of office space in historic building in Milan for new HQ

Otis (UTC Group)Relocation of office space for 315 employees in Milan

3M ItaliaAcquisition of 107,600 sf office in Milan

Mellin Milupa Danone Acquired 107,600 sf office space for the merger

Italy

The tenant representation contact in Italy is:

Michele Gozzoli

Michele Gozzoli has 20 years of experience in Italian real estate

Milan

Rome

KEY FACTS




Quoted Rent: Euro per sqm per year

Typical Lease Term: 6 + 6 years

Average Class A Rent: Rome €400 per sqm per year Milan €400 per sqm per year

Fees: The tenant pays. Typically 15% fee of 1 year’s rent

Rent Escalation: Rent is adjusted annually in conformity with the prices increased per inflation index

VAT: 22%

Knight Frank has two offices in Italy: MilanRome

24

TRACK RECORD

Goldman SachsNew lease of 320,000 sf of Grade A office space in Tokyo L’orealAcquisition of 75,000 sf of Grade A office space in Tokyo Johnson and JohnsonAcquisition of 90,000 sf of Grade A office space in Tokyo

America Chamber of Commerce

Applied Materials

Caterpillar

Credit Suisse

Royal Bank of Canada

Sony Pictures Entertainment

JAPAN

The tenant representation contact in the Japan is:

James Fink

James Fink SIOR, MRICS, has been active in Japanese real estate since 1994 and has represented over two hundred Fortune 1000 firms

TokyoOsaka

KEY FACTS



Currency: Japanese Yen (JPY)

Quoted Rent: Yen per tsubo per month(3.3 sqm = 1 tsubo = 35.5 sf)

Typical Lease Term: A typical Japanese lease is for 2 years and perpetually renewable, whereas a fixed term lease is typically 3 - 5 years and provides no right to renew

Average Class A Rent: JPY 35,000 per tsubo per month

Fees: The landlord and tenant pay.Typically 1 month’s rent

Rent Escalation: Not fixed and subjectto negotiation

VAT: 8%

Project Partner - K.K Halifax Associates has two offices in Japan: OsakaTokyo

25

TRACK RECORD

Service SourceSuccessfully secured 70,782 sf of office space for delivery centre

Huntsman Successfully secured 31,915 sf of office space for Huntman’s relocation into a MSC-status building

BAE Systems DeticaSuccessfully negotiated 23,000 sf for BAE Systems Detica’s office space relocation

Roche15,146 sf relocation with market studies, analysis of options, cash flows and legal assistance

Fourwinds

Regus

Cameron

Ecolab

DHL

Avaya

Ausenco

Fortinet

NSN

Malaysia

The tenant representation contact in Malaysia is:

Teh Young Khean

Young Khean has over 10 years of experience in the Malaysian real estate market with expertise in both tenant and owner representation

Kuala Lumpur

Johor Bahru

Penang

KEY FACTS



Currency: Malaysian Ringgit (MYR)

Quoted Rent: MYR per sf per month (gross)

Typical Lease Term: 2 - 3 years with option to renew for 2 - 3 year term at prevailing market rate

Average Class A Rent: Kuala Lumpur: MYR 7.20 per sf per month

Fees: The tenant pays. Typically half a month’s rent

Rent Escalation: Rent is fixed during the first term of a 2 - 3 year term

VAT: N/A

Knight Frank has three offices in Malaysia: Johor BahruKuala LumpurPenang

26

TRACK RECORD

ChryslerAcquisition of 269,100 sf forheadquarters and sale of 753, 500 sf in Mexico City

Gauss Energy Acquisition of 10.8 million sf for solar panels in Baja California

Chrysler

Energy Fitness

Citizen

AON

Goldman Sachs

Johnson Controls

Mexico

The tenant representation contact in Mexico is:

Jayant Mulay

Jayant Mulay has over 15 years of experience in the Mexico real estate market

KEY FACTS


Local time: New York + 1 hour

Currency: Dollars (USD$)

Quoted Rent: USD per sqm per month


Average Class A Rent: Mexico City: USD $24.50 per sqm per month

Fees: The landlord pays. Typically up to 2 months’ rent

Rent Escalation: Annually adjusted

VAT: 16%

San Luis Potosí

Guanajuato

Querétaro

Monterrey

Saltillo

Mexico City

Newmark GrubbKnight Frank has six offices in Mexico: Mexico CityMonterreySan Luis PotosiCiudad JuarezGuadalajaraQueretaro

27

TRACK RECORD

CH2MHill HalcrowRepresented CH2MHill Halcrow in providing advisory services on the consolidation and then full search and acquisition in relocating their offices in Abu Dhabi and Dubai

Gulf Related Assisted Gulf related with build-to-suit opportunities in the UAE for the relocation of a logistics distribution facility

Embassy of the Kingdom of the NetherlandsRepresented Embassy in the search and acquisition for a new embassy in Abu Dhabi. Full client reporting, benchmarking and analysis was undertaken in securing new premises that met the strict requirements of the Hague

DNV GL

FireEye

Palantir

Etihad Airways

NBAD

Samsung

Linde

Cameron

Middle East

The tenant representation contact in the Middle East is:

Matthew Dadd

Matthew Dadd has a wealth of experience in assisting occupiers’ secure commercial premises in the Middle East and is well-versed in advising international companies that are relocating to the region and guiding them through the nuances of the market

Bahrain

Abu Dhabi

DubaiDoha

KEY FACTS



Currency: AED (Arab Emirates Dirham)

Quoted Rent: AED per sqm per year


Average Class A Rent: Abu Dhabi: AED 1,650 sqm per yearDubai: AED 1,950 per sqm per year

Fees: The tenant pays. Typically 5 - 8% of the first year’s headline rent

Rent Escalation: In Abu Dhabi, landlords have no rental restrictions, although the market standard is 5% per annum. In Dubai, rents can go up or down and are based upon the RERA (Real Estate Regulatory Authority) Index

VAT: N/A

Knight Frank has four offices in thefollowing Middle Eastern cities:Abu DhabiBahrainDubaiDoha

28

TRACK RECORD

Fokker ServicesAcquisition of approximately 75,000 sf office space as well as 172,500 sf of warehouse space in Hoofddorp (Schiphol Airport)

AstellasAcquisition of approximately 180,000 sf of office/lab space in Leiden

Booking.ComAcquisition of approximately 135,000 sf of office space in Amsterdam centre

TATAAcquisition of approximately 15,000 sf of office space at Amsterdam Southaxis

Nuon/VattenfallSeveral acquisitions in The Netherlands with a total size of approximately 140,000 sf of office space

Mitsubishi

Park Plaza Hotels UTC

Manpower Saab

SHV Gas

The Netherlands

The tenant representation contact in The Netherlands is:

Fred Rikken

Fred Rikken has over 15 years of experience in the Dutch property market with a focus in tenant representation, corporate services and investments

Amsterdam

KEY FACTS




Quoted Rent: Euro per sqm per year (net)

Typical Lease Term: 5 -10 years

Average Class A Rent: € 180 - € 210 per sqm per year

Fees: The tenant pays. Typically 16% of the first year’s rent. Can be in combination of lower percentage of first year’s rent plus percentage of savings over term lease

Rent Escalation: 1.5 to 2.0% per year based on the CPI, published by the Central Bureau of Statistics

VAT: Currently 21% and payable on all rent and fees

Affiliate office - NL Real Estate has one office in The Netherlands:Amsterdam

29

TRACK RECORD

Spark (Telecom) Secured 6 new office premises in Christchurch totaling 350,000 sf

Australian Brushware Secured new industrial premises in Auckland of 100,000 sf

New Zealand Government

Christchurch City Council

Spark (Telecom)

Australian Brushware

New Zealand

The tenant representation contact in New Zealand is:

Layne Harwood

Layne has over 30 years of experience in the commercial property industry within New Zealand

Auckland

Christchurch

KEY FACTS


Local time: New York +18 hours

Currency: NZD

Quoted Rent: New Zealand Dollars per sqm per year


Average Class A Rent: Auckland CBD: NZ $450 - $550 per sqm per year

Fees: The landlord pays. Typically 15% of annual rental dependant on term

Rent Escalation: Negotiable, typically reviewed at two-year intervals to consumer price index (CPI), but will not fall below initial rental

VAT: 15%

Knight Frank has two offices in New Zealand: AucklandChristchurch

30

TRACK RECORD

Morgan StanleyRelocation of 2,820 sf of office space in San Isidro, Lima

Holiday Inn Acquisition of 63,000 sf inSan Isidro, Lima

TecnofilAcquisition of office space totaling 860,000 sf in Lurin, Lima

Money Gramm

Nokia Siemens Network

Repsol

Cencosud

GSIM Resourses

Inversiones Centenario

CPG

PERU

The tenant representation contact in Peru is:

Jorge M. Didyk

Jorge M. Didyk specializes in tenant representation with multinational companies in Peru

KEY FACTS


Local time: New York - 1 hour

Currency: Nuevos Soles (S/.)

Quoted Rent: US$ per sqm per month


Average Class A Rent: US $24 per sqm per month

Fees: The landlord pays. Typically up to 1 month’s rent

Rent Escalation: 5% annually

VAT: 18%

Lima

Newmark GrubbKnight Frank has one office in Peru: Lima

31

TRACK RECORD

MoneyGram International Acquired 75,000 sf of office space in Warsaw

Sygnity Acquired over 100,000 sf of office space across Poland

McCormick Acquired 21,000 sf of office space in Łódz

Nokia

Moët Hennessy

Cummins

IFS

SGS

Poland

The tenant representation contact in Poland is:

Marek Ciunowiczv

Marek Ciunowiczv has over 18 years of experience in the Polish commercial real estate market

Poznan

Gdynia

Warsaw

Wroclaw

Katowice

Krakow

KEY FACTS



Currency: Polish New Zloty PLN

Quoted Rent: EUR per sqm per month or PLN per sqm per month


Average Class A Rent: Warsaw CBD EUR 21-26 per sqm per month in

Fees: The landlord pays. The fee of 1 - 2 months’ gross rent

Rent Escalation: Indexed annually according to Harmonized Index of Consumer Prices

VAT: 23%

Knight Frank has six offices in Poland:GdyniaKatowiceKrakowPoznanWarsawWroclaw

32

TRACK RECORD

PwC Acquisition of 8,500 sf for new premises, including providing market advisory and lease renegotiation assistance

Teleperformance Acquisition of 71,000 sf for new offices at Parque das Nacoes

GeneraliAcquisition of 43,000 sf for new offices

PWC

KPMG

Deloitte

Van Ameyde

CSL Behring

Teleperformance

Mazars

Schneider

BNP Paribas Securities Services

Regus

Generali

Portugal

The tenant representation contact in Portugal is:

Bernardo Vasconcelos

Bernado Zammit e Vasconcelos has 7 years of experience representing multinational corporations in Lisbon

Lisbon

KEY FACTS




Quoted Rent: EUR per sqm per month


Average Class A Rent: Lisbon CBD: € 20-22 sqm per month

Fees: The landlord pays. Typically 15% of the first year’s rent

Lease: 16% of annual rent plus VAT. Sale: 3 to 5% of selling price plus VAT

Rent Escalation: Rent is adjusted annually according to consumer pricing index

VAT: 23%

Affiliate office - Worx has one office in Portugal:Lisbon

33

TRACK RECORD

Oracle Largest pre-lease in Romania totaling 269,100 sf in Floreasca Park

BCR Erste 161,460 sf consolidation of multiple offices into one location

Oracle

Allianz

Wolters Kluwer

Kalon

Reckitt Benckiser

Fujitsu

Mapei

Webhelp

Boehringer Ingelheim

SABMiller

Romania

The tenant representation contact in Romania is:

Horatiu Florescu

Horatiu Florescu has over 15 years of experience in providing tenant representation and consultancy services to multinational companies, developers, and investors

Bucharest

KEY FACTS



Currency: Romanian leu (RON)

Quoted Rent: Euro (€) per sqm per month


Average Class A Rent: in Bucharest: €16 - 16.5 per sqm per month

Fees: The landlord pays. Typically 2-3 months’ rent

Rent Escalation: Rent is adjusted annually based on the European Consumer Price Index issued by Eurostat

VAT: 24%

Affiliate Office -Prime Property Advisors has one office in Romania:Bucharest

34

TRACK RECORD

Merrill Lynch Acquisition of 19,213 sf office premises in Moscow

IBM Acquisition of office space in Moscow totaling 41,700 sf

Credit Europe BankAcquisition of 82,020 sf office premises in Moscow

Renaissance Capital

Novartis

Weatherford

WPP

Russia

The tenant representation contact in Russia is:

Konstantin Losiukov

Konstantin Losiukov has over 14 years of experience in real estate and tenant representation for multinational corporate occupiers

Moscow

St. Petersburg

KEY FACTS



Currency: Ruble

Quoted Rent: USD/RUR per sqm per year


Average Class A Rent: $750 USD per sqm per year

Fees: The landlord and tenant pay. Typically 1 month’s rent

Rent Escalation: Annual indexation of 3 - 4% from the second year of lease

VAT: 18%

Knight Frank has two offices in Russia:MoscowSt.Petersburg

35

TRACK RECORD

VolvoAcquired 25,000 sf for new regional headquarters in Singapore

Ministry of National Development Build-to-suit development in Jurong, totaling 325,000 sf

Blackstone

BBC

Spencer Ogden

Hugo Boss

FireEye

SMTB

Singapore

The tenant representation contact in Singapore is:

Louise Toovey

Louise Toovey has 8 years of experience in commercial real estate representing corporate clients in Singapore

Singapore

KEY FACTS



Currency: Singapore Dollars (SGD)

Quoted Rent: Singapore Dollar per sf per month (gross)

Typical Lease Term: 3 years with the option to renew for an additional three years at the prevailing market rent

Average Class A Rent: SGD 11 – 13 per sf per month

Fees: Fees: The landlord pays. Typically 1 month’s rent

Rent Escalation: None, fixed for the terms on the lease

VAT: 7% Goods and Sales Tax (GST) is applied to the rent

Knight Frank has one office in Singapore:Singapore

36

TRACK RECORD

SynapticsAcquisition of 41,974 sf of office space in Seoul

Oracle (University)Acquisition of 13,877 sf of office premises in Seoul

L’OREAL2,144 sf relocation of offices for the R&D center

Fuji Xerox

Apple

Samsung

Motorola

ROCHE

South Korea

The tenant representation contact in South Korea is:

Yoona Choi

Yoona Choi has over 15 years experience in Seoul commercial real estate

Seoul

KEY FACTS



Currency: Korean Won (KRW)

Quoted Rent: KRW per pyung per month (3.3058 sqm = 1 pyung = 35.5 sqf)


Average Class A Rent: Seoul CBD: 92.000KRW per pyung per month

Fees: The tenant pays. Typically 1 month’s rent

Rent Esctalation: Fixed for the term of the contracted period then typically increased by 8% annually

VAT: 10%

Knight Frank has one office in South Korea:Seoul

37

TRACK RECORD

CitiRent review of 180,900 sf of

office space

INGRent review of 37,600 sf of office space

for headquarters in Madrid

JP Morgan

Relocation of headquarters in Madrid

totaling 42,400 sf

JP Morgan

Lone Star

Incus

Orion

Unibail-Rodamco

Hemera

Spain

The tenant representation contact in Spain is:

Humphrey White

Humphrey White is head of investment and overseas tenant representation in Spain with over 10 years of experience in the Spanish real estate market

Madrid

Seville

KEY FACTS




Quoted Rent: Euro per sqm per month


Average Class A Rent: €30 per sqm per month

Fees:The landlord pays. Typically 10% of the first year’s rent

Rent Escalation: Rent is adjusted annually based on the Cost of Living Index. Indexation clauses in leases usually include automatic adjustment whenever the Cost of Living Index changes by a predefined amount

VAT: 21%

Knight Frank has two offices in Spain: MadridSeville

38

TRACK RECORD

CanonLease negotiations for 15 sites in Sweden totaling approximately 215,000 sf

SchibstedCo-location of 13 corporations from 6 different locations in Stockholm totaling approximately 110,000 sf

RocheReal estate transaction and lease negotiations for a new site of approximately 161,500 sf

American Express

Honeywell

Nike

Sony Music

Microsoft

Apple

Sweden

The tenant representation contact in Sweden is:

Hans Cronsioe

Hans Cronsioe has more than 20 years of experience in Swedish real estate

Stockholm

Gothenburg

KEY FACTS



Currency: Swedish Krona (SEK)

Quoted Rent: SEK per sqm per year


Average Class A Rent: Stockholm CBD: SEK 4,000 - SEK 5,500 per sqm per yearGothenburg CBD: SEK 1,900 - SEK 2,600 per sqm per year

Fees: The tenant pays. Typically a fixed fee or a fee based on a percentage of savings

Rent Escalation: Rent is linked to Swedish CPI, published on a monthly basis

VAT: 25%

Project Partner - Tenant and Partner has two offices in Sweden:StokholmGothenburg

39

Track Record

Nokia58,000 sf downtown office relocation and 148,000 sf of factory disposition in Taipei

Eastspring InvestmentsSuccessful 46,000 sf office disposition and relocation

PCAMultiple acquisition and disposition assignments in Taipei City, New Taipei City and Kaohsiung City, totaling 153,000 sf

JP MorganAcquisition of 88,600 sf in Taipei CBD

Makalot HQ acquisition of 122,000 sf in Taipei CBD

LKQ

Emersion

Taiwan

The tenant representation contact in Taiwan is:

Cliff So

Cliff So has 20 years experience in corporate services, brokerage, appraisal and consulting in Taiwan

Key Facts



Currency: New Taiwan dollars (TWD)

Quoted Rent: TWD per ping per month(1 ping = 3.3 sq m = 35.58 sq ft)

Management Fee: TWD per ping per month. Paid monthly in advance. Typically ranges between TWD 100-280 per ping per month


Average Class A Rent: Taipei: TWD 2,751 per ping per month

Fees: The landlord and tenant pay. Typically 1 month’s rent

Rent Escalation: 2 to 5% or at the CPI equivalent, starting from the 3rd year of leasing term

VAT: 5%

Knight Frank has one office in Taiwan: Taipei

40

Taipei

TRACK RECORD

3MMultiple assignments including:

Acquisition of new 40,000 sf customer technical center, a new 40,000 sf factory, and multiple office lease renewals totaling 54,000 sf

3M

CEVA Logistics

Stanley Black & Decker

Corning

South African Embassy

THAILAND

The tenant representation contact in the Thailand is:

Marcus Burtenshaw

Marcus Burtenshaw has over 17 years experience in commercial real estate for multinational clients

Phuket

Bangkok

KEY FACTS



Currency: Thai Baht (BAHT)

Quoted Rent: (BAHT) per sqm per month (gross)

Typical Lease Term: 3 years with option to renew for 1 or 2 additional three-year terms. Rent includes service charge but excludes taxes (7%)

Average Class A Rent: BAHT 640 per sqm per month

Fees:Landlord pays. Typically 1 month’s rent for a new 3-year lease

Rent Escalation: None; fixed for the term of the lease

VAT: 7%

Knight Frank has two offices in Thailand: BangkokPhuket

41

TRACK RECORD

CiscoAdvised on the lease acquisition of 10,800 sf of office space in Ankara and Istanbul

Emerson ElectricAcquired 215,000 sf of warehouse and office space in Istanbul

Roto FrankAcquired 32,300 sf of warehouse and office space in Istanbul

Fagor AutomationProvided strategic advice on the sale and leaseback of a 72,100 sf industrial property in Istanbul

Cisco

Avery Dennison

Turkey

The tenant representation contact in Turkey is:

Tevfik Orten

Tevfik has over 30 years of international professional real estate experience

KEY FACTS


Local time: New York + 7 hour

Currency: Turkish Lira (TL)

Quoted Rent: Turkish Lira and USDper sqm per month


Average Class A Rent: Istanbul: USD 27 per sqm per month (gross)

Fees:The tenant pays. Typically 12% of annual net lease amount

Rent Escalation: In most leases, rental rate increases are determined by annual or semiannual CPI rates

VAT: 18%

Istanbul

Project partner - ORCO International has one office in Turkey: Istanbul

42

TRACK RECORD

PWCHelped negotiate and relocate its office to expand to over 20,000 sf in a new decentralized Grade A building and helped save cost of rental expense at the same time

HuaweiHelped negotiate with the landlord to regear the lease and reduce the rent by 24%

MSIG Insurance

Duane Morris

Huawei

ANZ

Canon

PwC

Vietnam

The tenant representation contact in the Vietnam is:

Kien Bui

Kien Bui has nearly 7 years of experience in commercial real estate specializing in leasing, sales and tenant representation

Hanoi

Ho Chi Minh City

KEY FACTS



Currency: Vietnamese Dong (VND)

Quoted Rent: VND per sqm per month


Average Class A Rent: Hanoi - US $36.90 per sqm per monthHo Chi Minh City - US $35.50 per sqm per month

Fees: The landlord pays. Typically 1 months rent

Rent Escalation: N/A

VAT: 10%

Knight Frank has two offices in Vietnam:HanoiHo Chi Minh City

43

Global Summary

Country City Rent Quoted In Rent Rent USD/sf/Year

Typical Lease Term

Fees Paid By

Africa Various Various Various 1 - 5 years Landlord

Argentina Buenos Aires USD/sf/month 27.00 30.10 3 years Tenant

Australia Sydney AUD/sqm/year 875.00 71.40 5 - 7 years Tenant

Melbourne AUD/sqm/year 610.00 49.78 5 - 7 years Tenant

Brisbane AUD/sqm/year 675.00 55.08 5 - 7 years Tenant

Canberra AUD/sqm/year 430.00 35.09 5 - 7 years Tenant

Perth AUD/sqm/year 800.00 65.28 5 - 7 years Tenant

Austria Vienna EUR/sqm/month 13.00 18.39 3 - 10 years Landlord

Belgium Brussels EUR/sqm/year 275.00 32.43 9 years Tenant

Brazil Sao Paulo USD/sqm/month 50.00 55.74 5 years Tenant

Rio de Janeiro USD/sqm/month 50.00 55.74 5 years Tenant

Cambodia Phnom Penh USD/sqm/month 25.00 27.87 2 - 3 years Landlord

Canada Toronto CAD/sf/year 49.00 43.66 5 - 10 years Landlord

Chile Santiago CLF/sqm/month 0.60 27.77 3 - 5 years Landlord/Tenant

China Beijing RMB/sqm/month 379.00 69.00 2 - 3 years Landlord

Shanghai RMB/sqm/month 271.00 49.20 2 - 3 years Landlord

Guangzhou RMB/sqm/month 178.00 32.34 2 - 3 years Landlord

Colombia Bogota COP/sqm/month 70,000 37.27 3 - 5 years Landlord

Czech Republic Prague EUR/sqm/month 15.75 22.92 5 years Tenant

Finland Helsinki EUR/sqm/year 310.00 36.55 3 - 5 years Tenant

France Paris EUR/sqm/year 750.00 88.44 9 years tenant

Germany Berlin EUR/sqm/month 20.50 29.01 5 years Landlord

Frankfurt EUR/sqm/month 36.00 50.94 5 years Landlord

Munich EUR/sqm/month 29.00 35.04 5 years Landlord

Greece Athens EUR/sqm/month 13.50 18.78 3 years Tenant

Hong Kong HKD/sf/month 69.60 107.73 3 years Landlord

India Mumbai INR/sf/month 120.00 23.55 5 years Landlord / Tenant

Delhi INR/sf/month 68.00 13.35 5 years Landlord / Tenant

Pune INR/sf/month 40.00 7.85 5 years Landlord / Tenant

Bangaluru INR/sf/month 55.00 10.79 5 years Landlord / Tenant

Chennai INR/sf/month 45.00 8.83 5 years Landlord / Tenant

Hyderabad INR/sf/month 40.00 7.85 5 years Landlord / Tenant

Indonesia Jakarta IDR/sqm/month 302,800 61.00 2 -3 years Landlord

Ireland Dublin EUR/sf/year 43.50 55.00 10 years Landlord / Tenant

Israel Tel Aviv NIS/sqm/month 120.00 35.45 5 -10 years Tenant

44

* Rental rates are as of December 2014. All fees and market practices are subject to change and must be negotiated and agreed on an individual case by case basis for each transaction.

Global Summary

Country City Rent Quoted In Rent Rent USD/sf/Year

Typical Lease Term

Fees Paid By

Italy Rome EUR/sqm/year 400.00 46.28 6 years Tenant

Turin EUR/sqm/year 150.00 17.36 6 years Tenant

Florence EUR/sqm/year 200.00 23.14 6 years Tenant

Naples EUR/sqm/year 200.00 23.14 6 years Tenant

Japan Tokyo JPY/tsubo/month 35,000 110.52 2 years Landlord / Tenant

Malaysia Kuala Lumpur MYR/sf/month 7.20 26.50 2 - 3 years Tenant

Mexico Mexico City USD/sqm/month 24.50 27.31 3 - 5 years Landlord

Middle East Abu Dhabi AED/sqm/year 1,650 41.73 4 years Tenant

Dubai AED/sqm/Year 1,950 49.31 4 years Tenant

The Netherlands Amsterdam EUR/sqm/year 195.00 23.00 5 - 10 years Tenant

New Zealand Aukland NZD/sqm/year 500.00 36.97 6 - 12 years Landlord

Peru Lima USD/sqm/month 24.00 26.75 3 years Landlord

Poland Warsaw EUR/sqm/month OR PLN/sqm/month

23.50 30.27 5 years Landlord

Portugal Lisbon EUR/sqm/month 21.00 29.71 3 - 5 years Landlord

Romania Bucharest EUR/sqm/month 16.25 22.68 5 years Landlord

Russia Moscow USD/sqm/year OR RUR/sqm/year

750.00 69.00 5 - 10 years Landlord / Tenant

St Petersburg USD/sqm/year OR RUR/sqm/year

750.00 69.00 5 - 10 years Landlord / Tenant

Singapore Singapore SGD/sf/month 12.00 111.39 3 years Landlord

South Korea Seoul CBD KRW/pyung/month 100,000 39.20 2 - 5 years Landlord / Tenant

Spain Madrid EUR/sqm/month 30.00 42.45 5 years Landlord

Sweden Stokholm Sek/sqm/year 4750 47.58 3 -5 years Tenant

Gothenberg Sek/sqm/year 2250 22.54 3 -5 years Tenant

Taiwan Taipei TWD/ping/month 2,551 28.31 3 - 5 years Landlord / Tenant

Thailand Bangkok BAHT/sqm/month 640.00 21.96 3 years Landlord

Turkey Istanbul USD/sqm/month 27.00 30.10 5 - 7 years Tenant

United Kingdom London GBP/sf/year 35.00 56.28 5 years Tenant

United States USD/sf/year 52.50 52.50 10 - 15 years Landlord

Vietnam Hanoi VND/sqm/month 36.90 41.14 3 - 5 years Landlord

Ho Chi Minh City VND/sqm/month 35.50 39.58 3 - 5 years Landlord

45

* Rental rates are as of December 2014. All fees and market practices are subject to change and must be negotiated and agreed on an individual case by case basis for each transaction.

46

Global OfficesAUSTRALIA AdelaideBrisbaneCairnsCanberraDarwinFraser CoastGladstoneGlen WaverleyGold CoastHobartLauncestonLiverpoolMackayMelbourne NewcastleParramattaPerthRockhamptonStrathpineSydneyTownsvilleWagga Wagga

AUSTRIA Vienna

BELGIUM Brussels

BOTSWANA Gaborone

BRAZIL Brasilia

CAMBODIA Phnom Penh

CANADA CalgaryMontrealOttawaTorontoVancouver

CHILE Rio de JaneiroSantiagoSao Paulo

CHINA BeijingGuangzhouShanghai

CZECH REPUBLIC Prague

FINLAND Helsinki

FRANCE Paris

GERMANY BerlinFrankfurtMunich

GREECE Athens

HONG KONG Hong Kong

INDIA BangaloreChennaiDelhiHyderabadKolkataMumbaiPune

INDONESIA BaliJakarta

IRELAND Dublin

ISRAEL Tel Aviv

ITALY MilanRome

JAPAN OsakaTokoyo

KENYA MombasaNairobi

MALAWI BlantyreLilongwe

MALAYSIA Johor BahruKuala LumpurPenang

MEXICO Ciudad JuarezGuadalajaraMexico City MonterreyQueretaroSan Luis Potosi

NETHERLANDS Amsterdam

NEW ZEALAND AucklandChristchurch

NIGERIA AbujaLagosPort Harcourt

PERU Lima

POLAND GdańskKatowiceKraków ŁódźPoznańWarsawWroclaw

PORTUGAL Lisbon

QATAR Doha

ROMANIA Bucharest

RUSSIA Moscow St Petersburg

SINGAPORE Singapore

SOUTH AFRICA Cape Town DurbanJohanessburg

SOUTH KOREA Seoul

SPAIN MadridSeville

SWEDEN StokholmGothenburg

TAIWAN Taipei

TANZANIA Dar es Salaam

THAILAND BangkokPhuket

TURKEY Istanbul

UAE Abu DhabiDubai

UGANDA Kampala

UNITED KINGDOM AberdeenBirminghamBristol CardiffEdinburghGlasgowLeedsLondonManchesterNewcastle upon TyneSheffield

UNITED STATES Over 100 offices over 33 states VIETNAM HanoiHo Chi Minh City

ZAMBIA KitweLusaka

ZIMBABWE BulawayoHarare

Richard SextonNew [email protected]+1 212.372.2124

Joey VlastoNew York [email protected]+1 646.441.3738

Mark SullivanSan [email protected]+1 415.445.5111

www.ngkf.com

Documents

NGKF Global Tenant Representation Country Guide