Lack of Access Helps Local Office Market

Shanghai and Moscow were identified as the most popular business locations across all emerging markets in research conducted by CB Richard Ellis.

According to the real estate services company's Business Footprints report released last week, which compares the office presence of 280 major companies across 101 countries and 232 cities, 17 of the top 30 most popular company office locations are in emerging markets.

Shanghai is home to 172 of the companies profiled (61.4 percent) and is closely followed by Moscow, where 170 (60.7 percent) are present.

Russia ranks 14th in the country ranking, with 174 companies, which is 62.1 percent of the companies present. In the city ranking, Moscow is sixth globally, with 170 companies, 60.7 percent of the sample. While the size of the Russian market makes it attractive to occupiers, Moscow's high position reflects its level of accessibility — it is particularly difficult to do business in Russia without a domestic office.

In the industrial goods and services sector, Moscow is seventh, with 23 companies, 70 percent of the sample. Cities like Moscow are often locations serving as head offices controlling nearby production facilities. In the professional services sector, Moscow is fifth, with 29 companies, 83 percent of the sample.

"It is particularly interesting to note the position of a number of emerging markets relative to established cities in developed economies. For example, Shanghai, Moscow, Beijing and Dubai feature in the top 10 most popular business locations, with more international companies present than in Paris, New York and Milan, said Richard Holberton, director of Europe, Middle East and Africa research at CBRE.

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