Gurgaon: When the company wants to find innovation in their office environment, the stock of Flex workspace is likely to cross 60 million sqft in Metro and non-Metro cities in 2023.
A recent report by Colliers, a global real estate service company, and QDESQ, booking platforms for workspaces, have claimed that migration reversed to tier 2 cities due to a pandemic, a constant new startup growth and increased trust between companies to occupy new office spaces given to a rise in vaccinated interest rates for the flexible industry throughout the country.
According to research, consultants, IT and e-commerce companies planning to build several satellite offices at the suburban location will drive demand.
The City of Metro, the word of this study, was the Fort of Flex Space, accounted for around 88% of the total shares in the third quarter of 2021.
But the Flex room appeared in non-metro cities and large companies moving into a decentralized structure, focusing on flexibility and The comfort of their employees.
The report said the total FLEX stock in non-metro cities is likely to reach 7.8 million sqft in 2023, a 50% increase from the current level.
Data shows that after swimming in occupancy and office prices during a pandemic, the Flex room revived at the end of 2021 with an average occupancy of 71%.
Prices for each seat have also seen a 21% increase in September 202, after falling around 30% during locking.
Ramesh Nair, CEO (India) and MD (Development-Asia Market) at the Colliers, said, “Flex markets in India are developing.
Many companies have combined the components of Flex space in their portfolio.
The space currently operates around 70%, and the trend slowly -Lahan inches to the pre-locking level.
“He said there were various companies that saw the next generation office that was unique for their needs.
“Flex workspace operators must continue to focus on adjustment and provide workspace on request,” Nair added.
Arora’s Paras, Founder and CEO of QDESQ, said the next 12-18 months tended to watch the business of all sizes.
“The importance of agility and decentralization has been underlined and highlighted by a pandemic.
This concept will be important for businesses when they adapt to change and encourage the industry ahead.
That is the future for India,” he added.
Vimal Nadar, senior director and head of research at Indian Colliers, concluded the trend.
“At the end of 2021, the city of Metro has seen new requests from invaders crossing the spectrum.
Even in non-metro cities, the company has taken seats for their sales and regional offices, which lead to higher occupancy.
The invaders evaluate the concept ‘ Working from near the house ‘through the satellite office and hub-and-speaking.
We estimate that these offices will be a merger of traditional leases and flexible space, “he added.
Flex Workspace to cross 60 million sqft in 2023, report said
