Coworking: Top trends to watch out for:
While it may have been once considered a fad, coworking spaces that provide businesses and individuals with a shared working environment, are proving to be a lasting trend and demonstrating one of the biggest changes in the workplace today. With memberships growing at higher than a global average of 40%1 , coworking operators have been an important demand catalyst across Asia Pacific.
Coworking has taken the region by storm, leasing more than 8.0 million square feet (sf)2 over the last two years. Places like Ucommune, WeWork, Spaces, Awfis, and CoWrks etc. have accounted for nearly two-thirds of the space leased by coworking operators during 2016-17.
We at C&W are closely tracking its evolution across Asia Pacific. We are pleased to this report that highlights emerging trends in the coworking landscape that have transformed it to become a business solution, not just a real estate alternative. This report comes against a backdrop of its rapid growth to disrupt the traditional office market across cities.
1 2017 Global Coworking Survey, deskmag
2 C&W Research