The World's Largest Flex Office Market

Last week, I had a meeting with one of the largest flex office providers in the world. And they are not from Europe or the US.

India is one of the largest flex office markets globally comprising of around 90 million square feet and around 10% of the total Grade A office stock.

This is double the amount of Europe's flex office stock, and equal to the US, both with still larger office stock overall.

Key differences:
- India’s flex office market is driven by large enterprises and MNCs and the operators are aggressively leasing new buildings.
- Whereas players in Europe and the US predominantly rely on SMEs and optimise portfolios.

Why is that so?

If you're a startup or an MNC’s Tech Hub in Bengaluru, planning to scale from zero to 300 within your first year, you need flexibility. Even more so when you don't know by how much you will actually grow in year two and three.

Same with corporations. Just yesterday, Swiss bank UBS reportedly signed a 165,000 square feet lease in Pune and rented a fully managed office tower.

Lots to learn from the players in India and I’m sure that this model will eventually be more prominently used in Europe and the US as well.

—> Link to India Rising <—
—> Link to article <—

#tech #gcc #flexoffice