Global measurement standard for offices launched

Finding a common international property measurement standard for offices has always been an area of concern for organizations across the world. The International Property Measurement Standard for Offices launched recently, hopes to address this problem.

The standard has been developed by 56 organizations to help address the long-standing problem of inconsistency in the way offices are measured, and aims to bring transparency and consistency to global real estate markets.

"While an office measurement may include offsite car parks in India, it may include outdoor leisure facilities in Spain. In some parts of the Middle East hypothetical floors may be included and in other parts of the world local standards require measurements of air-conditioned areas and not floor space," said a report published along with the new standard.