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Demand for co-working spaces to triple in 3 years

The demand for flexible and co-working spaces will triple in India in the next three years, fuelled by start-ups as well as big corporates.Co-working companies took up 2 million sq ft of commercial office space in the first quarter of this year alone, compared with the 1.8 million sq ft they took up in 2017, Knight Frank said in a report on Thursday. “The expansion plans of major players and the increasing appetite for this format from occupiers, property owners and co-working operators should see annual transaction numbers triple from current levels over the next three years,” it said.“Due to the changing perceptions of the office, the workplace is being viewed as an instrument that could drive a dynamic and vibrant culture of corporate productivity. The co-working operator is filling this niche and is fast being regarded as a specialist in workplace management who can cultivate an environment of collaborative enterprise that yields tangible benefits to the occupier,” said Samantak Das, Chief Economist and National Director-Research, Knight Frank India.

Source :- NAREDCO