In our 2018 report, we highlighted the differentiation strategies that flexible workspace operators were implementing because of the growing competition fueled by the entry of large international players. A year thereafter, the sector faces a new threat that continues today: the Coronavirus Disease 2019 (COVID-19).
The pandemic has undoubtedly brought chaos not only to our health and well-being, but also to the global economy, ravaging through various industries and sectors, no matter how big or small.
The property market was not spared.
In this report, we would like to focus on how over a year into the pandemic has affected the flexible workspace sector, specifically serviced offices and co-working spaces, and how players in the Philippines have adapted in order to survive this undeniably devastating situation.