Mumbai, Sept. 1 -- Coworking operators leased 0.191 million (mn) seats to corporates across the top eight cities in the January to June period, a 68 per cent annual rise, according to real estate consultant Cushman & Wakefield. The operators leased 191,306 desks in the first six months of the year compared with 113,623 in the year-ago period. Cushman & Wakefield said corporates are increasingly preferring flexible managed office solutions.
In Bengaluru leasing rose 32 per cent to 57,487 desks in January to June from 43,616 in the corresponding period a year earlier. Hyderabad recorded 40,451 desks in the period, more than double the 14,936 units in the year-ago period. Mumbai saw leasing increase to 25,820 desks from 11,226 in the prior year.
To set up centres, coworking operators took on rent of 8.4 mn sq ft of office space in January to June, a 55 per cent increase from 5.4 mn sq ft in the year-ago period. Cushman & Wakefield added that flexible workspaces have become a core element of corporate real estate strategy as enterprises seek greater agility and efficiency. The consultant noted that global capability centres remain a significant demand driver for enterprise-ready workspaces.
Industry executives said flex leasing, which represented close to 20 per cent of annual commercial leasing activity a few years ago, now contributes a much larger share and reflects a fundamental shift in workplace preferences. They added that the near 70 per cent rise in seat leasing in the first half of the year indicates growing corporate appetite for flexible, managed office solutions. The trend is expected to shape long-term workplace planning as more firms adopt hybrid and agile operating models.
Published by HT Digital Content Services with permission from Construction World.