At The Awfis Leadership Summit 2021, many industry experts stated that they are anticipating offices to grow up to 750 million by 2022. With this comes new trends that are shaping the industry and how companies operate as a whole
The report this figure derived from also showed that coworking spaces should see an absorption rate between 20% and 30%.
“We have noticed that companies are now focusing on adopting a flexible and dynamic work model; therefore, occupiers desire flexibility in contracts,” said Sanjay Dutt, CEO at Tata Realty and Infrastructure Ltd. “With nearly 50% of Grade A office real estate now being institutional in terms of ownership, there is drive on asset enhancement with the intent to retain and improve overall customer experience and extract better economic value.”
One of the most significant trends expected is a huge surge in flexible office spaces across Tier 2 and 3 cities as companies look to accommodate employees who have moved outside of major cities during the pandemic.
Even more, experts at the summit stated that there will be an increase in crossover spaces that feature hospitality, residences, shopping malls, offices, and more.
