Co-working to continue to be a bright spot in workspace demand

financialexpress.com:

The concept of workspaces and the way we perceive workspaces strategies have evolved significantly in recent years. Both co-working spaces and flexible office spaces have some overlapping characteristics and benefits. ‘Flexible workspace’ is an umbrella term for shared office space that includes a variety of options, including coworking centers, on-demand single desks, executive suites, and private offices.

As a concept, flexible workspaces are designed to provide teams and individuals with different ways to work depending on their needs. Co-working is just one of these solutions among multiple forms of flexible working and is at the most flexible end of this scale – with fostering collaboration between members being its major objective.

Flexible work spaces are on the edge of a transformation as co-working spaces have become a highly popular choice for businesses of different kinds and dimensions due to multiple advantages among a spectrum of flexible spaces. Amid transformations of the office real estate market, it is evident that tech companies are having a significant bearing on office space leasing in India. The rise of co-working spaces has been phenomenal and a significant surge in demand has been observed among domestic companies too, particularly those from the engineering and manufacturing sectors who are increasingly taking up office leasing.

Also Read: Senior citizen fixed deposits offering up to 9.1% interest rates

The co-working sector has expanded and demand has gained great traction with corporates and MNCs making a beeline to co-working spaces in 2023 that have emerged as strong centres of growth. We saw a lot of companies gaining from the hub and spoke and decentralized model that co-working spaces