The world of flexible workspaces has undergone a dramatic shift in recent years. Forget the explosion of coworking spaces we saw a while back – a new trend is setting the office real estate scene on fire: managed workspaces. These spaces offer a unique blend of flexibility, scalability, and customization, perfectly catering to the needs of modern businesses.
This paradigm shift is largely driven by the growing popularity of managed office solutions. Compared to traditional leases or basic coworking spaces, managed offices provide a far more comprehensive and adaptable work environment.
Let’s look at the numbers. A recent report on India’s Flex Space Market (2023) reveals a staggering 10x increase in the operational footprint of managed space operators since 2018. By March 2023, these operators were managing a whopping 15 million square feet of workspace! This comes at the expense of pure coworking and hybrid spaces, whose share of the market has declined over the past two years.
The report further highlights the dominance of pure-play managed space providers in the post-pandemic flex space market. These companies, solely focused on managed offices, have witnessed the fastest growth compared to their coworking or hybrid counterparts.
One company at the forefront of this revolution is Smartworks. They’ve transformed themselves from a humble 10,000 square foot coworking space into a full-fledged managed workspace leader, boasting a portfolio of a staggering 8 million square feet. This incredible growth reflects in their financials as well, with a remarkable year-over-year revenue increase of more than double!
Smartworks goes beyond simply providing space. They offer a comprehensive solution, taking care of everything from IT infrastructure and furniture to security and housekeeping. This allows businesses of all sizes to focus on what matters most – their core operations.
Transforming India’s Managed Spaces revolution is here to stay, and Smartworks is leading the charge in India. Their commitment to flexibility, scalability, and a holistic work experience is making them the go-to choice for businesses seeking a future-proof workspace solution