- AmCham has taken office space at TEC’s Two Chinachem Central Centre before relocating to its permanent headquarters in 2022.
- The partnership offers benefits to AmCham members through events and access to TEC workspace solutions and products.
- Flexible workspace operators are experiencing increased demand from corporates and large enterprises that are seeking to provide more flexibility to employees.
The Executive Centre (TEC) and the American Chamber of Commerce in Hong Kong (“AmCham”) have formed a strategic partnership to provide AmCham’s members with access to private office space in Hong Kong.
AmCham will temporarily move to The Executive Centre’s Two Chinachem Central Centre before it permanently relocates to its new headquarters in 2022.
The Executive Centre and AmCham Hong Kong have previously worked together; the two organizations have co-hosted a variety of events over the past few years. Speaking about the partnership, Tara Joseph, President of the American Chamber of Commerce said:
“We are energized about our move to The Executive Centre. It is a strategic decision with our members being our top priority in creating not just an office space but an environment for community gathering, collaboration and a flexible working model. It is precisely community, collaboration and flexibility that defines our Chamber working goals in the new post-COVID normal.”
Flexible Workspace Operators Experience Increased Demand from Corporate Clients
The Executive Centre’s Nadia Zhu stated that the flexible workspace provider continues to see strong demand from MNCs and domestic corporates in Hong Kong despite the COVID-19 pandemic.
TEC isn’t the only flexible workspace brand experiencing increased demand for large space requirements. The Instant Group has reported that it has seen an increase in large space requirements throughout various markets.
In a report released earlier this year, The Instant Group found that 75% of corporate clients are hoping to reduce CAPEX on workspace, and part of that strategy includes adopting more flexible workspace solutions.
The flexible workspace industry is expected to continue experiencing high demand from large companies as they shift to a hybrid work model. In a recent WSJ article, Carol Ryan argues that “As long as work patterns remain up in the air, the kind of service the likes of IWG provide may be more in demand. Few companies will be in a rush to sign a 10-year lease until they understand how employees will divide their time between home and the office in future.”
Companies that implement hybrid work arrangements that allow employees to work remotely part-time stand to benefit significantly from leveraging flexible space solutions. Employees have said that they do want to go back to the office, but that they don’t want to go back to long-commutes. Flexible workspaces can help companies set up satellite offices near where workers live to ensure that they have access to office space without having to commute into city centres.
Flexible space solutions are attractive for employers for a variety of reasons, including shorter terms with the ability to reassess every few months as opposed to every few years, and access to Grade A space with amenities.