- The global serviced office market size is expected to grow from $18,195.1 million 2021 to $36,347.2 million in 2026
- A Brightermonday survey last year showed that at least 25 per cent of employees in the country are still working remotely.
The future of working spaces is changing and the emergence of serviced office spaces is taking over.
In Kenya, Workshop offices, a front runner in the sector has emerged as a provider of world-class Co-working office spaces exclusively for startups, independent professionals and talented people.
The firm says the revolution is being fuelled by technology, changing how companies are working, especially after Covid-19 pandemic.
"The modern well equipped spaces in Nairobi are built for those who aspire to work on their own freedom and have the passion in their work to lead a balanced lifestyle,'' the firm says.
According to the founder Workshop Serviced Offices Anad Shah, they take pride in offering wonderfully designed state of the art shared office spaces exclusively where the entrepreneurs are able to work without a hustle.
The firm adds that most companies and startups today consider various factors like ease of access,additional costs, reliability etc prior to selecting workspaces and offices.
"Workshop Serviced office spaces has come into the market to cater to all these with the availability of furnished private rooms and meeting rooms and is gaining an edge over its competitors in the coworking spaces''.
A Brightermonday survey last year showed that at least 25 per cent of employees in the country are still working remotely.
Latest study by JLL Consulting shows the global serviced office market size reached a value of nearly $18,195.1 million in 2021, having increased at a compound annual growth rate (CAGR) of 4.2 per cent since 2016.
According to the report,the global serviced office market size is expected to grow from $18,195.1 million 2021 to $36,347.2 million in 2026 at a rate of 14.8 per cent.
It is then expected to grow at a CAGR of 14 per cent from 2026 and reach $70,072.0 million in 2031.
The growing demand for flexible office spaces is expected to be a key driver of the serviced office market in the forecast period.
Globally, flexible office providers are refurbishing old office buildings, as they look to add new office spaces, due to high demand from corporates and unicorns after the introduction of the hybrid work model during the pandemic.
This has seen the demand for flexible office space has witnessed three times growth compared to 2021, with the average seats requirement doubling to over 1,000 seats compared to 500 seats earlier from large corporates.
Flex space operators leased over 1.9 msf of office space in Q1 2022 against 0.2 msf in Q1 2021, recording a 10X rise on YoY basis.