Facebook is doubling its presence in London by acquiring office space across two buildings in King's Cross.The 600,000 square feet (56,000 square meters) of office space will be enough for more than 6,000 workstations. The social media giant hasn't said how many new jobs this will create, but it plans to have 2,300 UK employees by the end of 2018.The expansion follows the 2017 opening of its site at Rathbone Place, which added 800 jobs and opened its first in-house incubator program for startup businesses. It also has a location on Brock Street.Facebook's announcement represents a commitment to the UK at time of uncertainty, as it prepares to leave the EU in 2019 and lawmakers try to work out the best Brexit terms. "This investment is great news for the capital," said London Mayor Sadiq Khan. "We welcome Facebook's long-term commitment, which is further evidence that London is open for business and a world-leading destination for major tech companies."Steve Hatch, Facebook's managing … [Read more...] about Facebook to double its London office space
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Rosie Perper, provided by Published 7:25 pm, Thursday, April 19, 2018 Shutterstock A car space in Hong Kong's Kowloon district is being rented for or HK$10,000 (US$1,274). This appears to be the most rent ever paid for a Hong Kong parking space, costing more than some of the city's smallest apartments. Hong Kong continues to break records for its high cost of living. among the priciest in the world, with record-breaking apartments being sold for well over $70 million. Recommended Video: Now Playing: Think you're forking over way too much cash for your apartment? You might be shocked to learn what your boss is paying in rent for your office cubicle! London-based estate agency Knight Frank studied property values across 40 different cities for its "2018 Global Cities" report...and it's numbers are staggering. The report looked at how much office space one could buy for 100 million U.S. dollars. The most expensive cities were....#1 Hong Kong, … [Read more...] about Hong Kong is so expensive that a single parking space just broke a property record
London's tech firms are moving away from the Silicon Roundabout in favour of prime office space in the Square Mile according to new research from the real estate adviser Savills. In the first quarter of this year alone, tech companies have already committed to almost three times as much office space within the City compared to the City fringe. Last year the number of businesses in tech moving into the City was at the highest level since 2000, with a 65 per cent increase on the 10-year average. The first three months of 2018 saw London's tech industry take-up 114,843 square feet of prime real estate in the City which is already over half of the total tech take-up seen in the same are in 2017. At the same time, tech firms also took up 42,473 square feet in the City fringe. The co-working firm WeWork also recently announced that it had acquired the City of London's Devonshire Square for almost £580m to help house the influx of tech startups coming to the City to … [Read more...] about London tech scene escapes to the City
Tech companies are favouring London’s city core over the city fringe, including areas like the so-called silicon roundabout, according to the latest research from real estate advisor Savills. With almost three times as much office space committed to by technology firms in central London compared to the city fringe (which includes areas like Old Street and South Bank) in the first quarter of the year, downtown London is proving a popular spot for the city’s booming tech sector. Read more: WeWork has snapped up this huge site in the City of London In the first three months of 2018, take-up by tech occupiers in the city core has reached 114,843 square feet (sq ft) already over half the total tech take-up seen in this area in all of 2017. By comparison, tech take-up in the city fringe in the first quarter of 2018 is at just 42,473 sq ft. “Where we have historically seen the majority of tech occupiers opt for fringe locations, there has been a notable shift in 2018 driven … [Read more...] about Techs and the City: Tech companies choosing central London over Silicon Roundabout in 2018
Kista, sometimes called the 'Silicon Valley of Sweden'. File image: Regus This content was paid for by an advertiser and produced by The Local's Creative Studio 1 February 2016 09:10 CET+01:00 Downtown Stockholm is brimming with hip startup hubs and snazzy international headquarters. But as the city’s tech scene is soaring to new heights and the business climate gets hotter than ever, interest in the Swedish capital’s easily accessible inner-ring suburbs is on the rise. Take Kista, for example, just a short drive away from downtown Stockholm. “Kista is the IT mecca of Sweden,” says Patrik Ölvebäck,country manager for Regus offices in Sweden, referring to a tech cluster just north of downtown known as the ‘Silicon Valley of Sweden’. “There are lots of international companies in the area, and they are attracting other large international companies but also small companies, one-person companies, consultants, and so … [Read more...] about Kista: The best office space in Sweden?