Today's working environment has become increasingly mobile with the rise of efficient flexible space. The rise of these establishments in the Asia Pacific region has been 'meteoric' as Jones Lang LaSalle noted. JLL research, according to Thailand Business News, indicated that major operators and companies have grown their annual footprint to 35% year-on-year, carrying that pace over to 2018.
There are a number of factors that governed the rise of flexible space sales in the Asia-Pacific region, but this has largely been because of the growth of the co-working sector of the real estate industry. Flexible terms, the ease of a 'plug-and-play' style of setting up, the idea of a community ready to support, and available access to social and professional networks have been hard to resist for those who are invested in this category.
There is also evidence of large corporations shifting to the co-working lifestyle, especially with regards to their real estate strategy. Co-working has appealed to large corporations and smaller businesses alike; for the smaller businesses or startups, the affordability of working in a cheaper setting made more sense financially than going for a traditional office setup.
As if to drive the example for the model home, Singapore-based JustCo, one of the region's leading flexible space providers, has been branching out of the area and into the Australian market. The Urban Developer reported that it is looking into Sydney and Melbourne as possible sites for its upcoming operations and
Co-working has become more of the norm as work becomes mobile. The appeal isn't only for the new generation. From the "social media" generation to long-time, "traditional" Fortune 500 companies, flexibility has given rise to efficiency. Analysts have also pointed out that collaboration, as well as deeper community engagement, are also big with the current trend.
JustCo's chief executive and founder, Kong Wan sing, said that what the company offers is greater than what is currently available in the Australian market, which is why its newest branch would work. Kong welcomed the Australian response by saying that most of their newest offices have been made 'move-in ready.'
The appeal of flexible working spaces is hard to miss. From spacious working areas, meeting rooms free for anyone's use, and collaboration areas that are made with an open concept--the local culture is invading even long-time, traditional workers. It's no wonder why from Asia up to the US, flexible working concepts are being embraced.
