LET'S GO
Less Space, More Services
Amid corporate caution, shifting expectations and sustainability requirements, Geneva’s office market is undergoing profound change. Two experts analyze these dynamics and examine the BIRD as a case study.
Henri-François Petit is Head of Tenant and Landlord Representation in Geneva at SPG Partners. Romain Philips is Director of the Letting Department, representing landlords across French-speaking Switzerland at CBRE.
What is the current state of the commercial real-estate market in Geneva?
Henri-François Petit: Geneva’s office market is performing rather well in 2025. Admittedly, the tense geopolitical environment led to a slower start to the year, with a degree of wait-and-see on the part of companies. But the second half of the year has been far more dynamic, with a higher volume of take-up, particularly in the Pont-Rouge district.
Romain Philips: Yes, the Geneva market remains relatively stable, with annual office take-up generally ranging between 80,000 and 100,000 square meters. However, some segments are under pressure—most notably International Geneva—where job cuts and budget reductions among NGOs are likely to lead to an increase in available space.
How has corporate demand evolved in recent years?
Romain Philips: Since Covid and the widespread adoption of remote working, demand for large office floorplates has declined. Many companies are optimizing their layouts and reducing their overall footprint.
Henri-François Petit: Companies are also looking to limit their fit-out investments. They increasingly favor fully fitted, plug-and-play offices in the 500 to 800 square meter range. This trend is encouraging landlords to deliver turnkey workspaces, although not all owners are yet willing to assume that risk.
How do you set a “fair” price?
Henri-François Petit: A deep understanding of the market is essential. A very high-end offer in an area with no demand will not find a tenant. In some cases, you can see significant rent disparities within the same area. For example, in the airport district, office rents can range from CHF 480 per square meter on one side of the road to CHF 250 on the other. Beyond square meters, location and the condition in which the space is delivered—particularly fit-out—are decisive, and these factors vary widely.
Romain Philips: That’s absolutely right. Price is primarily driven by location, building quality, and the services on offer. In the city center, some assets achieve rents of over CHF 1,000 per square meter per year, thanks to a differentiated service offering and high asset quality—though these levels are above the market average. In the strategic airport area, rents are generally lower. The BIRD, for instance, commands slightly above-average rents, yet it is the most successful building in that submarket. This is largely due to a service-oriented strategy.
Do sustainability criteria now matter to tenants?
Henri-François Petit: Environmental, social and governance (ESG) standards have become essential to large corporations. These commitments—and reducing carbon footprints—are now part of internal compliance requirements.
In Vernier, the Blandonnet area is under major transformation. What is its potential?
Romain Philips: It is a stable area, with several development projects still at the local zoning plan (PLQ) stage. In terms of mobility, the Vernier Léman Express station has clearly boosted the area’s attractiveness by improving connections with Geneva and neighboring France. The future link to the green mobility corridor will further facilitate soft mobility and enhance accessibility. More broadly, Geneva’s office market is seeing very few new entrants: most movements resemble a game of musical chairs, often driven by companies downsizing their office space.
What sets the BIRD apart from other projects in French-speaking Switzerland?
Henri-François Petit: First, its architecture: the renovation of the common areas is of an exceptional standard, notably with the creation of a double-height entrance hall on the ground floor. Second, the BIRD supports tenant growth and offers a high degree of flexibility, including fully fitted spaces. Several companies initially rented very small coworking areas before later signing conventional leases for larger spaces as they expanded. Finally, the range of services is hard to match—catering, event spaces, sports facilities, parking—it really offers a comprehensive ecosystem.
Romain Philips: The BIRD is often cited as a successful conversion case. It is a vibrant building, with an engaging internal program and a positioning that clearly sets it apart from the rest of Geneva’s office supply.
