Miami’s office market continues to be dependent on coworking firms to fill their spaces, but some landlords are concerned that their absorption rate is becoming too much.
No18 offers Singapore a more high-end option
No18, a stablemate of Regus, has announced plans to open its first Asian location near Singapore’s City Hall metro station later this year.
The high-end 20,600 square foot space in Capitol Singapore was recently renovated by Perennial Real Estate Holdings, a Stockholm-based coworking operator.
This location is apart of a worldwide rollout of No18 by IWG, the parent company of coworking firms Regus and Spaces.
“No18 is a workplace for movers and shakers,” said Nigel Barnes, Regus Asia Pacific Vice President for Network Development. “In Sweden, if you’re a famous actor, business leader or politician, this is where you go to have your meetings and get your work done.”
No18 is already an established company for luxury brands in search of an exclusive space for events, as well as an office for getting work done.
The Latest News
Delivered To Your Inbox
For the Capitol Singapore space, IWG hopes to create a “cosmopolitan business club” for all companies. Perennial has transformed the entire 91-year-old area into a unified hub that includes Eden Residences Capitol, the Capitol Kempinski Hotel Singapore, and more.
The new project from IWG is apart of the company’s global strategy to offer companies a more broad range of coworking spaces, from high-end to middle-tier.
“We’re at a tipping point for the industry,” Barnes said. “Flexible office has gone from quite niche to mainstream, and businesses want choice. They want location choice, they want workstyle choice and this is where we have moved as an industry.”
Latest on Daily Digest
Gym-coworking hybrids have gained traction recently, allowing members to be productive at work while encouraging them to take care of their physical and mental health.
The 2019 Global Coworking Survey has revealed that there is to be 2.2 million coworking members by the end of this year and identified the state of the industry so far.
Office Depot has been testing out coworking spaces within three of their existing locations in an effort to expand its current services and drive traffic into stores.
Just ahead of its IPO, WeWork has signed four new Manhattan leases to open its “Headquarters by WeWork” offering dedicated to providing un-branded spaces for clients.
Despite the coworking industry seeming congested, operators are not concerned about the competition as each coworking space gears its services to a specific audience.
Flexibility in the workplace has become a common option for workers, but some firms are going further by becoming 100% remote so staff can work from wherever they please.
Coworking firms, such as WeWork and Knotel, have been rapidly expanding their footprint in New York’s Flatiron District as it becomes the city’s hub for shared offices.
British brand Established & Sons have introduced four new furniture designs that aim to create a more comfortable workplace, while also being functional to homes.
Condeco’s newest research paper found that 41% of employers offer remote working, thanks largely in part to major technological advancements that are sweeping workplaces.
Industrious is partnering up with national retail and mixed-use developer Seritage Growth Properties to brings its coworking spaces into five of the retailers locations.
Companies have accepted that wellness in the workplace should be prioritized, but the trendiness of it can overshadow what is most effective — starting from the basics.