Trends in the Munich office market - Interview with Lars Schmitt
Lars Schmitt is reassuming the role of Divisional Director at ISG, once again taking charge of the operational activities in Munich. Having previously held the same position at ISG from 2019 to 2020, he later moved to a global construction company and has now returned to ISG. In an interview, Lars provides insights into the reasons for his return and the promising sectors, including Life science and Advanced Technology, that this significant business region offers.
You are quite familiar with ISG, having worked there in the past. Why have you chosen to return to ISG now?
There are several reasons for that. We have a highly qualified team at ISG. Moreover, Munich is currently home to exciting clients with a demand for modern and future-proof office spaces. But we also want to think ahead and broaden ISG's scope. This is the perfect opportunity for that. In the future, we aim to take on projects in the fields of Life Sciences and Advanced Technologies. Significant investments will be made in this sector in the near future, and Southern Germany, especially, is home to numerous companies in the Life Science sector. As an international construction company ISG has the necessary expertise and an impressive international track record for this. Another focus of mine is on personnel development. I aim to make ISG a top employer in the medium and long term in the construction industry.
Over the course of your career, you have experienced various parts of Germany and large portions of Europe. What makes the office location in Munich special?
Munich is one of the economically strongest and most stable locations in Germany and Europe. The city boasts a high GDP per capita and attracts investments from all around the world. A wide range of industries are active in the Bavarian capital, including financial services, insurance, IT, media, biotechnology, and the automotive industry. This diversity ensures stability. Additionally, Munich has a vast pool of highly qualified professionals.
What are the main challenges when it comes to ESG-compliant office renovations?
The office market is facing a challenging period following the interest rate shift and the pandemic. There is a substantial number of older office properties in Germany, some of which are in secondary locations, requiring energy-efficient renovations. This demands a significant amount of capital. Furthermore, many employees have adapted to working from home during the pandemic, while companies desire a stronger office presence from their employees. ISG has solutions for both challenges in the area of fit out. We specialize in the energy-efficient renovation and retrofit of offices and understand the parameters that an office must meet to encourage employees to return to the workplace.
