2016 was the year flexible workspace took APAC by storm – from local coworking operators scaling rapidly in Beijing and Shanghai, to global juggernaut WeWork taking up large footprints in Shanghai, Hong Kong, Seoul and Sydney. Traditional operator Regus reacted by rolling out its Spaces brand in Singapore, Tokyo and Sydney while others, such as The Executive Centre and Compass Offices are pressing ahead with plans to launch new concepts. Even Servcorp, the market leader in premium serviced offices, has begun to introduce coworking, with an executive feel, in some key locations.
Any trend in real estate is always end user led and with end users demanding more flexibility we foresee growth in the sector continuing and landlords being increasingly receptive in order to offer diversity in their portfolio, with some predictions stating that 30% of corporate real estate portfolios will be flexible workspace by 2030.
2017 will see a continued evolution of the sector and this Outlook Report examines the drivers for growth, the impact on the key APAC markets, and what this means for start-ups, multinational corporations and landlords.
Click below to access the paper.
Published: February 2017
By: Colliers Research