The rapid expansion plans by the major coworking players, and the pandemic-triggered need to re-strategize workspaces, indicate a bright future for this new asset class.
This strategic move by Colliers serves as an example of a successful space strategy when it is time to re-think, re-imagine and re-create the habitable spaces.
In contrast to a conventional office space where all formal areas are given prime importance over the informal ones – the innovation centre does the complete opposite!
Despite the slow absorption for commercial real estate with 5.53 million sq ft leased in Q1 2021, WeWork remained bullish with driving sales and net absorption, with more than 7 lakh sq ft of the area being sold (over 10% of the total leasing in the market).
In 2019, the co-working operators had leased 8.1 million sq ft office space across six major cities — Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Chennai and Pune.
