According to a report from Cushman & Wakefield, flexible workspace demand in India is expected to grow to 130 million to 140 million square feet by 2025.
The “Redefining future workplaces” report was released at the Workplace Trend Conclave hosted at Hyatt Regency in New Delhi.
Anshul Jain, Country Head & Managing Director-India at Cushman & Wakefield, said that the survey found 57% of respondents had a positive view of coworking. Additionally, he added that their exposure to coworking will likely increase and that 25% of spaces occupied by corporates will be coworking or flex spaces by the end of 2025.
“We are from Thailand and have offices in Shanghai and most recently this end of last year in Delhi,” said Amy Chulamas Jitpatima, Director of MQDC India. “There are a lot of start-ups and a lot of unicorns and there is a lot of excitement going on [here] and that’s what brings us here.”
While it is clear that coworking spaces in India will continue to flourish, some experts believe that there is too much supply and that optimistic projections will likely fall short.
“That’s happening at a time that the economy is slowing,” said Bejul Somaia of Lightspeed Partners. “So there’s a question around whether there’s going to be the increase in demand that’s forecast. I think it’s really important that individual companies have clearly defined their target segments, the price points, the offering for that segment.”