Demand for co-working spaces set to rise: Knight Frank India

HYDERABAD: The demand for co-working space in the country is rising with around 200 co-working players running an estimated 400 shared workspaces across the country as compared to just Regus and few localised players in 2010 running less than 30 such centres, said a report ‘Co-working: The office of the future’ released by real estate consultants Knight Frank India.
“While co-working companies accounted for just under 1.8 msft of the 41 msft annual commercial office space transactions volume, the expansion plans of major players and the increasing appetite for this format from occupiers, property owners and co-working operators should see annual transaction numbers triple from current levels over the next three years,” the report said.
While Regus is the most established and largest shared workspace operator in the country today with approximately 2 million sft and 20,000 seats under operation, WeWork and CoWrks are among the newest and most aggressive players in the co-working space, it added.
In the first quarter of 2018, Bengaluru accounted for 43% of co-working space, NCR 16%, Hyderabad 15%, Pune 12%, Mumbai 10%, Ahmedabad 3% and Chennai 2%, the report said.