More than 80% of occupiers plan to expand through flex spaces in the next 3–5 years

Reimagination of workplace, changing perceptions and enterprise-level offerings have been driving heightened flex adoption in recent years. These sentiments are echoed in the survey-based report Flex Spaces: Reshaping the New-Age India Office Market.

The report highlights that more than 80 percent of occupiers prefer to expand their office portfolio through flex spaces in the next few years. Interestingly, large corporates have also been increasingly embedding flex space as a part of their real estate footprint. This trend of higher flex space adoption is mainly based on its inherent advantage of adding flexibility to the real estate portfolio while providing sufficient wiggle room to manage costs. Additional advantages include enhanced productivity, sustainability, and tech and security features. The growth in flex space endorsement is expected to be highest among multinational companies (MNCs), with an anticipated rise of three to four times current levels by 2030.