Zug Office Market Profile – Q2 2023
Semiannually Zug office market report of JLL Switzerland
- Daniel Stocker
The supply of available office space in the Zug region decreased by 11,500 m2 or 21% in the first half of 2023 and amounts to 44,400 m2. The availability rate decreased from 4.3% at the end of 2022 to currently 3.4%.
The reductions in supply occurred mainly in Baar (−5,600 m2) and Rotkreuz (−5,900 m2), while the changes in Steinhausen, Cham, Hünenberg and the city of Zug were minor.
The well-filled project pipeline should ensure that more office vacancies can be expected by 2025 at the latest. Depending on the progress of the individual projects, more than 100,000 m2 of new office space can be completed in the Zug region between 2024 and 2026. These include the new Partners Group headquarter, several stages in the Tech Cluster, the last building plots of the Suurstoffi site, Building F of the third stage on the Papieri site and the Neuhof21 (under construction) and Kuro (planned) projects.