Dr. Gleb Tsipursky – The Office Whisperer
Nirit Cohen – WorkFutures
Angela Howard – Culture Expert
Drew Jones – Design & Innovation
Jonathan Price – CRE & Flex Expert
Coworking has almost practically doubled its market in 2017, and continued to expand its footprint last year. So what does 2019 hold for this massive, 40 million square foot sector of the real estate market?
India’s coworking hub are Delhi NCR, Mumbai and Bengaluru with each city holding well over 2 million square feet of flexible office space.
What used to be an environment for startups, is now being embraced by many large corporations such as Amazon and Starbucks. Big enterprises are quickly realizing the economical and morale benefit of a shared office space.
Along with this, many traditional sectors (banking, insurance, etc.) will start making the shift to coworking options in an effort to promote younger talent.
Although some niche coworking spaces exist, they are expected to expand even further in 2019 according to Smartworks.
As the coworking industry continues to grow, operators will continue expanding into tier II cities where demand is climbing.
Despite massive expansion, some players might find that the saturated market is too saturated, which is expected to lead to consolidation of smaller firms.
Another trend that is expected is coworking space become more tech-savvy by offering conference room rental, paying for bills, and other office management tasks through in-house software.
Additionally, productivity and collaboration will increase thanks to firms incorporating more wellness programs, workshops, and seminars that boost networking opportunities.
Coworking spaces will continue upwards for green initiatives and overall design to create a healthier work environment, while hopefully improving the quality of these offices.
Overall, the coworking market is anticipated to further disrupt the commercial real estate market.
