International Workplace Group (IWG), the company behind coworking brands like Regus and Spaces, is aiming to become India’s third-largest coworking provider within three to five years, according to IBEF.
Currently, IWG operates 105 centres in India and plans to open 40 more in 2025. Marc Descrozaille, IWG’s Regional CEO for Asia-Pacific and the Middle East & Africa, believes India has the potential to rank among the top three markets for IWG. To reach this target, the company plans to add 300 centres across the country.
In 2024, IWG saw significant growth globally, signing 899 new centres and opening 624 locations. The company also returned to profitability, with earnings of $557 million (₹4,786 crore) and reduced its debt to $712 million (₹6,118 crore). With over 4,000 centres in 120 countries, IWG’s operations are expanding rapidly, particularly in India, where the market is growing the fastest in the Asia-Pacific region.
The current global economic uncertainty is likely to drive more businesses to choose flexible workspaces. As companies focus on their core activities like manufacturing or IT, renting long-term office spaces becomes less appealing. Flexible workspaces offer businesses the agility and cost-effectiveness they need, which is expected to fuel continued growth in the coworking sector both in India and globally.
