• Flexible space continues to proliferate across Asia Pacific, reaching a total footprint of 54 million sq. ft. as of March 2019, accounting for more than 3% of total office stock.

 

  • Shanghai still possesses the largest volume of flexible office space but Indian and Southeast Asian markets are recording the fastest growth.

 

  • As flexible space operators have already built critical mass for their service offering, CBRE expects 2019 to herald a shift in strategy from expansion to efficiency. This will include a focus on the following:
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    • Raising occupancy: Attract new and repeat members, increase space densities, and shorten sales cycles to achieve desired occupancy of flexible space centres
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    • Customising enterprise solutions: Target corporate occupiers and customise service and product offerings to cater to this demand
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    • Form creative partnerships with landlords:  Partner with landlords via management contracts to enhance agility in their portfolios