While there are several short-term disruptions and challenges, the future of office real estate is a spectrum of flexible spaces. This report (re)Imagine Flex Spaces: A 360⁰ View states that driven by increased demand from large enterprises, it is expected that the size of the flex space market would cross 50-mn sq ft by 2023.
The highlights of the report:
- From customised spaces to work-from-home solutions, operators are prepared to serve the needs of all types of occupiers.
- An employee-friendly work environment has become the most important corporate real estate (CRE) objective for most occupiers and cost management follows closely.
- The entry of more than 300 flex space operators into the country helped commoditize the market.
- Prominent flex space operators focusing on innovation and better space utilization.
- Large enterprises will continue to drive demand to accommodate portfolio expansion and contraction along with crisis support to flex their space needs.