Despite having a rough couple of months, coworking operators remain fairly optimistic about the future of the coworking industry.
For instance, Common Ground Works co-founder Erman Akinci said he believes although they must reduce the capacity of their workspaces, they are still able to meet the demands of companies, particularly in suburban areas.
With larger companies seeking flexible office space to de-densify their own workspaces, Common Ground has seen an uptick in inquiries.
“Companies are looking to stay liquid and retain flexibility rather than taking the risk of committing to a longer-term office lease,” said Akinci. “Large companies are not in the head-space of signing a fixed lease with fixed rental commitment over a long-term period, and then further investing in the fit-out, buying furniture, etc at the moment.”
According to Ray Tan, WeWork’s head of growth for Southeast Asia, companies will continue to lean on coworking spaces as part of their recovery plan during economic downturns. He added that while remote working has undoubtedly become a significant part of the workforce, employees need collaboration and community more than ever.