In India, interest towards the flexible space segment continues to rise in 2021, as ‘core + flex’ strategies would be at the forefront for all office stakeholders. In this report, we present CBRE's take on how the flexible space segment has evolved so far post the COVID-19 outbreak, along with the perspective of all three stakeholders – operators, occupiers and landlords.
- Operators would now have a higher focus on customized solutions, creative partnerships with landlords and new arenas for sustenance and growth
- Occupiers would look at ‘re-optimizing’ portfolios and revising location strategies as well as display an augmented preference towards agility
- Landlords would ‘hotelise’ office spaces, undertake creative partnerships with operators and optimize the share of flexible spaces within their portfolios with an eye on office space valuations
We believe that the flexible space segment in India is amid a constant evolution – with its long-term fundamentals likely to remain resilient. The long-term drivers of flexible space demand are likely to be intact, with smaller occupiers continuing to seek cost-effective fully furnished spaces and large multinationals looking to build more agility into their office portfolios.