Officebroker.com is rebranding as Officio to move away from the broker model and aid clients in finding long-term solutions, rather than completing short-term goals.
Everyone wants a slice of the coworking life
Coworking operators are expanding their services in Thailand thanks to strong demand from clients. Now, many businesses are remodeling their own office designs as coworking spaces to offer a collaborative, creative environment.
AP (Thailand) chief executive Anuphong Asavabhokhin was the driving force behind office renovations for the property development company and believed that creating an environment inspired by coworking would spark creativity and help staff communicate and collaborate better.
A CBRE study said that the rise in demand for coworking spaces in Asia reflects the trend of transforming work lifestyles, and the growth is notable: 15% of office leasing transactions included “agile spaces” in the first half of 2018 alone.
Currently, major coworking operators are taking over the market including WeWork, who recently opened its flagship space in Southeast Asia.
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With flexible spaces increasing in popularity, many landlords are expected to take advantage of its success. Some are even opening their own coworking space or serviced offices.
For example, Hong Kong real estate company Swire created its own coworking firm called Blueprint, and has partnered up with the likes of WeWork and luxury coworking company The Great Room.
“This gives these property owners considerably more leverage to determine the shape of the flexible space industry,” said Christopher Clausen, associate director, Asia Pacific research, at JLL. “Joint ventures or management contracts between landlords and flexible space operators are likely to become more common.”
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JLL research revealed that Dallas-Fort Worth is ranked 12th out of the country’s top 15 coworking and flexible space markets, taking up 3 million square feet of space.
Office provider LABS has launched its 96,100 square foot flagship property LABS House in Bloomsbury, London that features coworking, offices, and full-service dining.
Cool office interiors are ideal at first glance, but looking into a company’s principles, such as gender equality and flexibility, will be the factors that retain talent.
Colliers International revealed the success of the office market last year due to high demand for coworking and tech firms, but predictions for 2019 are uncertain.
Shared office space providers as tenants have become the norm for many landlords and building owners, and now many REITs have adopted coworking as it continues to expand.
Brookfield Properties has teamed up with Convene to spruce up the 73,000 square foot Brookfield Place into a full-service events venue that accommodates up to 500 people.
Many coworking operators pride themselves on massive, rampant expansion, but some industry experts believe this growth could lead to failure and consolidation in 2019.