Global standard for new offices mooted
Architects have been urged to contribute to work to standardise commercial building measurements around the world
The International Property Measurement Standards Coalition is consulting on a global standard for office buildings until 4 April.
It is aimed at providing a common language for measuring offices across international markets.
A spokesman for the coalition said architects were ‘encouraged’ to contribute.
‘In the long term, this initiative is all about trying to achieve consistency and transparency in property measurement, across markets. Architects work with surveyors and other professionals on the same buildings,’ he said.
The coalition pointed to research showing floor area measurement can deviate by almost a quarter depending on the system used.
The standard will be adopted by firms around the world from June 2014 with Dubai’s government the first to commit to its adoption
Ken Creighton, chair of the IPMSC board of trustees, said: ‘Less than a year after the coalition met for the first time at the World Bank in Washington we now have an international standard.
‘This standard will undoubtedly have a profound and lasting benefit for the global real estate industry, financial markets and society as a whole, ensuring transparency and consistency are at the very heart of this global industry.’
Martin Bruehl, head of international investment management at Union Investment, said: ‘Investors currently suffer from having to make decisions based on information which is inconsistent from one market to the next.’
Architects can contribute to the consultation here: http://ipmsc.org/consultation/