Co-working is King
The new world order is vastly different from just two years ago. The change has been drastic and there is no going back from it. Working from home is the new norm and organisations recognize that. Which is why rather than create a central office space, a lot of Fortune 500 companies are creating hybrid versions of their office which are geography based for their employees rather than a single hub that everyone reports into. So, you will find multiple offices of the same organization scattered all over the country and the city rather than one monolithic building. And the answer to this requirement is co-working spaces. The evidence of growth is all too palpable.
The Managed Office Market
There is well over half a million managed seats operational across the top-8 commercial real estate markets in India. The previous year saw an 18% annualised growth in managed seat inventory, thereby demonstrating rising confidence of the operator community. Looking at the top-10 operators by inventory of seats, the market disruptions induced by the pandemic has resulted in higher concentration of the market. The top-10 operators cumulatively account for a dominant 2/3rd share of inventory of seats across the top-8 markets as of Q4-2021.