Flex space demand among Indian corporates rises to 10-12%: Colliers

Indian corporates are fast embracing flexible workspace which now accounts for 10-12 per cent of their real estate portfolio compared to 5-8 per cent pre-COVID pandemic, according to Colliers. Real estate consultant Colliers has recently released a report 'Global Occupier Outlook 2023' that revealed that many corporates in Asia Pacific are deferring decisions on taking office space on lease as they are grappling with the complexities of the hybrid work model. "The lack of clarity and macroeconomic uncertainty are posing challenges for businesses in projecting their space requirements," it added. According to Colliers' experts, companies are facing the dilemma of striking a balance between providing employees with desired flexibility and realigning their portfolios for the next evolution of the workplace. However, Colliers said that Indian office space occupiers have been quick to adopt flex spaces, attracted by the flexibility, agility, and cost-effectiveness. "Flex spaces are ...

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