Dr. Gleb Tsipursky – The Office Whisperer
Nirit Cohen – WorkFutures
Angela Howard – Culture Expert
Drew Jones – Design & Innovation
Jonathan Price – CRE & Flex Expert
Demand for flexible coworking spaces in India has grown thanks to the country’s growing startup community. Established businesses are also taking advantage of flexible offices thanks to the many amenities they offer.
Flexible offices have grown immensely in the past few years, taking up just under 40 million square feet in the Asia Pacific.
A study from CBRE South Asia found that coworking spaces take up 1.7% of total office stock in APAC.
“The growth can be attributed to the expansion of domestic operators, which currently account for about 60% of the total flexible stock,” said Ram Chandnani, Managing Director, Advisory and Transaction Services India, CBRE.
Operators account for a one-sixth share of share of the market and 68% of India’s flexible office space stock, with the top cities being Mumbai, Bengaluru, Delhi-NCR, Hyderabad, Chennai, Pune and Kolkata.
Stock of flexible space in India has increased by 50% from 10 million square feet in 2017, to about 15 million square feet in 2018. Bangalore and Delhi were the largest players in the market with a combined share of 55%.
It was also reported that leasing activity by coworking operators has increased rapidly in major cities, with space take up at 0.6 million square feet in 2016, which quadrupled to 3.5 million square feet in 2017.
