Description: In recent years, the landscape of flexible workspaces has undergone a significant transformation, with a multitude of flexible operators emerging rapidly. Moving beyond the traditional concept of coworking spaces, a new standard has emerged within the Commercial Real Estate (CRE) industry. This shift can be attributed to the adaptability and convenience offered by managed office solutions, which have gained considerable momentum across the sector. According to a recent report on India’s Flex Space Market for 2023, managed space operators have experienced a tenfold increase in their operational footprint, reaching approximately 15 million square feet by March 2023 compared to 2018. Meanwhile, both coworking and hybrid players have observed a decline in their respective shares of operational flex stock over the past couple of years.
Category: Real Estate
Tag: smartwork