Transformation of workspaces sees employee experience and well-being take the lead
The next generation of work environments, centred around the needs of employees, leads to higher productivity and improved wellness
A shift is taking place in the way businesses approach the workplace, moving beyond focusing on location and office specifications to prioritising people-centric design. Enhancing employee well-being and addressing diverse needs are now of paramount importance for business leaders, as they strive to attract and retain talent, and maximise performance.
According to the Gensler Research Institute’s “Global Workplace Survey 2024”, employees in high-performing workplaces that offer spaces for relaxation, concentration and confidential conversations exhibit improved productivity, better work quality and faster decision-making.
The survey also revealed that employees in high-performing workplaces benefit from amenities and services that improve their work experience and cater to lifestyle needs. These spaces include areas that enhance social connectivity.
In the competitive landscape of Hong Kong’s office market, Swire Properties says it has successfully distinguished Taikoo Place as a premier business hub by focusing on tenant engagement and employee well-being. The developer says this approach has not only maintained high occupancy rates but also fostered a vibrant community where businesses thrive.
Taikoo Place, home to more than 35,000 office workers and 200 multinational corporations, has recently completed a HK$15 billion (US$1.9 billion) revitalisation project, adding two triple grade A office towers and 390,000 sq ft of amenities to a total area of 7 million sq ft. Together with expansive landscaped gardens, parks and new elevated air-conditioned walkways, these enhancements have created a dynamic environment that supports both productivity and relaxation.
“Our goal at Taikoo Place is to create an amenity-led portfolio where people want to work, play and stay, therefore extending the operating hours of what is predominantly a commercial district, and breathing life into the area outside normal office hours,” says Don Taylor, director, office, Swire Properties. “Before it became a world-class business hub, Taikoo Place was an industrial trading estate in what was then considered a decentralised location on Hong Kong Island. As Taikoo Place has evolved, so have the amenities and services that we offer to our tenant base. By leveraging our placemaking attributes, including amenity provision, ESG [environmental, social and governance] credentials and initiatives, as well as tenant engagement activities and biophilic design, we have successfully captured the current ‘flight-to-quality’ trend, as corporates look to upgrade their office accommodation to meet their ESG goals and enhance staff well-being.
“Today, an increasing number of corporates prioritise office locations that resonate with their staff, seeking an environment that aligns with employees’ expectations for experience as well as supporting services and amenities,” he adds.
Despite a challenging business environment that saw an oversupply of office space and weak demand, Taikoo Place maintained occupancy rates above 90 per cent at the end of last year, outperforming the Hong Kong east market. Swire Properties attributes this success to its continuous investment in upgrading existing assets and servicing tenants beyond traditional metrics, including enhanced amenities and ESG initiatives, and utilising digital tools to boost engagement. The company has retained various long-term tenants, including LVMH, Hong Kong Telecom, BNP Paribas and EY.
A cornerstone of Taikoo Place’s strategy to differentiate is its leadership in sustainability, the developer says. According to JLL’s “The Future of Work 2024: Designing Workplaces to Drive Success”, 65 per cent of the organisations surveyed expect greater investment in the sustainability performance of their real estate. In line with this trend, Taikoo Place has achieved top green building and wellness accreditations, and is the first and currently only development in the Greater Bay Area to obtain a Platinum rating in the LEED (Leadership in Energy and Environmental Design) Communities certification.
The emphasis on sustainable building and community design ensures that Taikoo Place becomes a workplace destination that enhances physical and mental health, fosters social connectivity and improves environmental quality, ultimately creating a location where people are eager to come to work.
Swire Properties prioritises tenant engagement and supports them in achieving their sustainability goals through collaborative programmes such as the Green Performance Pledge. More than 120 companies have joined this landlord-tenant partnership. “This pioneering initiative, which covers the entire tenancy life cycle, is one of the most comprehensive tenant partnership programmes in the city,” Taylor says. “Last year we achieved our 2025 goal of having 50 per cent of our office tenants sign up to drive collective change by reducing their electricity and water consumption, as well as diverting waste from landfill.”
Amenities play a crucial role in Swire Properties’ strategy: they also support Taikoo Place’s goal of becoming a vibrant, seven-day destination. A diverse range of business and leisure amenities, including a members’ club, flexible workspaces and restaurants, have been integrated into the portfolio. Diverse dining options are a significant driver of tenant satisfaction. The introduction of Taikoo Piazza includes an expanded collection of alfresco dining options catering to a range of preferences and budgets.
Swire Properties has established a dedicated team to oversee tenant satisfaction at Taikoo Place. The team’s remit includes focusing on food and beverage outlets, as well as tenant experience and amenities. As the company continues to innovate and enhance its offerings, Taikoo Place is set to remain a leading business hub, continuing to contribute to the city’s economic growth.
“The transformation underscores our long-term commitment to reinvest in the communities in which we operate, and reaffirms our confidence in the city’s status as an international financial centre,” Taylor says.