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CO-WORKING IS CHANGING THE COMMERCIAL REAL ESTATE SCENE | CO-WORKING SPACES

Published on April 21, 2019 by Qasim Naqvi

The rise of technology has influenced many areas of activity. Commercial real estate is one of them and has changed a lot in recent years. There has been a marked trend towards more flexible and optimized spaces that deconstructs the idea of ​​the traditional office. The current economy is more focused on innovation than on manufacturing. Old spaces are not always adapted to current needs.

Traditional offices have recently been replaced by coworking spaces that have proliferated around the world. Because their main idea is based on creating a thriving community and promoting networking, these offices are becoming increasingly popular among millennials and are therefore profitable for their owners. This is not only an excellent choice for small businesses and growing businesses, but the concept of shared space is also chosen by large companies. The latter often set up innovation laboratories within the walls of shared spaces.

The growing popularity of coworking is attributed to the growing demand of the millennial generation, as it allows a perfect balance of work, leisure, and entertainment in one place. It also influences the areas of brokerage, facilities management, project management, and networking.

How coworking influences commercial real estate:


Facilities Management

Coworking is sharing. But that does not stop at sharing the workspace. Costs related to electricity, security, the Internet, etc. are shared among all tenants of a coworking space. It works in a way that benefits all parties involved. Compared to renting a regular office, a coworking space offers a less expensive alternative to traditional offices for freelancers and businesses. At the same time, business operators are gaining more overall in facility management services, despite a low cost per customer.

Intelligent construction technology

Many coworking spaces use smart technologies when designing and building a venue. Many processes are being automated, from visitor management to heating, to cloud access control and advanced security. This makes coworking spaces not only more attractive for professionals, but also sustainable and forward thinking.

Brokerage

Coworking space agreements are usually less complicated than traditional chords. They are flexible and allow rental in the short term. It is possible to rent a workspace even every hour. This is a definite advantage for fast-growing companies. As they develop, they use the scalability offered by coworking spaces. Brokers could become less influential in the future because the relationship between a space provider and a customer will be straightforward. Brokerage could turn to the board as fewer long-term leases are expected.

Comprehension of the workplace

A workplace of the future is more than an office. It can offer a work area, a common area, a café, a kindergarten, and a gym. It is flexible, attractive and stimulates creativity. And that’s what the generation of millennia needs. They are not bound by the rules of 9 to 5. They value the money and the freedom it provides, and they appreciate the opportunity to combine work and leisure.

Project Management

Because coworking sites are pre-furnished, well-maintained and all facilities are included in the price, companies should not be afraid to spend a fortune on improvements and improvements they would otherwise have to make in the event of renting. a traditional office. Nowadays, there is a rapid growth of agile real estate. Coworking takes root deeply in the whole world. This trend has many implications for commercial real estate, from new leasing models to the use of advanced technologies.

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Category: Coworking

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