Workplace Strategy Archives - Square Feat India https://squarefeatindia.com/tag/workplace-strategy/ Real Estate News Website Tue, 10 Sep 2024 13:48:46 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.6 https://squarefeatindia.com/wp-content/uploads/2019/12/squrefeatindia_favicon.png Workplace Strategy Archives - Square Feat India https://squarefeatindia.com/tag/workplace-strategy/ 32 32 Flex Spaces to Play Major Role in Office Expansion, Survey Reveals https://squarefeatindia.com/flex-spaces-to-play-major-role-in-office-expansion-survey-reveals/ Tue, 10 Sep 2024 13:48:46 +0000 https://squarefeatindia.com/?p=7749 A recent survey by Colliers India reveals that over 80% of office occupiers intend to increase their use of flex spaces in the next 3-5 years. This shift highlights a growing preference for flexible work environments and strategic locations in major cities, with large corporates increasingly adopting flex spaces for core business operations.

The post Flex Spaces to Play Major Role in Office Expansion, Survey Reveals appeared first on Square Feat India.

]]> A recent survey-based report titled Flex Spaces: Reshaping the New-Age India Office Market reveals that over 80% of office occupiers plan to expand their portfolios through flex spaces in the next 3-5 years. The trend signifies a shift in how businesses are approaching their real estate needs, with large corporates increasingly integrating flex spaces into their operations.

The report highlights that nearly 60% of occupiers are expected to allocate at least 20% of their office portfolios to flex spaces, with approximately 30% preferring to allocate over 40%. Additionally, 40% of respondents foresee flex spaces becoming central to their core business functions, reflecting a broader acceptance and reliance on this flexible workspace model.

“Flex space offerings are transitioning from niche to mainstream, and are poised to significantly influence Grade A office space demand in India,” said Arpit Mehrotra, Managing Director of Office Services at Colliers India. “Currently, about 60% of occupiers are likely to have a flex share of 20% or more in their office portfolios in the next 3-5 years, up from 40% today. This shift is notable among technology, engineering, manufacturing, and healthcare sectors.”

The report also found that 77% of occupiers prefer longer lease periods of over one year, with flex spaces providing a strategic advantage due to their flexibility and scalability. About 45% of occupiers are looking at core areas in major cities for their future expansion, indicating a preference for central business districts (CBDs) and strategic locations.

Flex spaces are no longer just a solution for start-ups; they are increasingly being used by mid and large-sized companies for core business operations. Around 45% of mid-sized and 35% of large companies are utilizing flex spaces in this capacity, with technology sector occupiers leading the trend at 40%.

“Workspaces have evolved into centers of collaboration and innovation,” noted Vimal Nadar, Senior Director & Head of Research at Colliers India. “With the growing maturity of the flex space market and the availability of enterprise-level services, occupiers are more open to committing to longer terms, potentially reaching up to three years.”

Also Read: Flex Spaces and Sustainability Drive Commercial Property Trends in APAC and India, Colliers Reports

As the landscape of office real estate continues to shift, flex spaces are expected to play a pivotal role in the future of work environments in India, adapting to diverse business needs and contributing to the evolving office market dynamics.

Source: Colliers

The post Flex Spaces to Play Major Role in Office Expansion, Survey Reveals appeared first on Square Feat India.

]]>