Workplaces across the globe are undergoing a transformative shift that is using intangible elements built around interactions between employees and their workplace, to drive tangible ROI-driven results. Shared experiences, community building, and social interactions are now the themes around which corporations are aligning their workplace strategies. Real estate has become as much an HR-driven function as it is a strategic one.
We are now firmly in the grip of the flexible workspace revolution. The emergence and further evolution of the coworking phenomenon which has transcended from its target base of start-ups and freelancers to large enterprises is a reflection of the change. The flexibility that such ‘flexible’ spaces offer to enterprises in their real estate portfolio management is also acting as a major factor behind the increasing use of such flex spaces within their portfolio.
A recent survey by Cushman & Wakefield and CoreNet Global emphasizes that the share of employees in organizations using flexible spaces has increased with the number of organizations using flexible spaces also increasing at a rapid pace.
Coworking or to use the better term, flex spaces have been at the centre of discussion around workplace design. The elements in focus –flexibility, space ergonomics, social interaction and community, health & well-being, biophilia and the use of technology to deliver a seamless space experience, are now acting as the driving forces behind workplace design themes and in turn driving the growth of flexible space services.
Through this paper, we aim to provide you an insight into the growing coworking/flex space phenomenon with its increasing share in the Indian Real estate commercial space and how the Indian flexible market is geared for some significant growth over the next decade.
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