International Workplace Group (IWG), the world’s largest hybrid workspace platform, has announced a significant expansion in 2024, signing 899 new locations and opening 624 new centres globally. This expansion includes 115 new locations in the Asia Pacific region, highlighting the growing demand for flexible workspaces in this dynamic area.
IWG’s growth strategy is largely driven by managed partnership agreements, allowing the company to convert various buildings into successful commercial operations. This approach aligns with the increasing demand for hybrid working solutions, as property owners seek to fill vacant spaces due to declining demand for traditional office real estate. IWG’s extensive brand portfolio, including Regus, Spaces, HQ, and Signature, supports this expansion.
In Singapore, IWG is capitalising on the trend of workers seeking shorter commutes by expanding its presence in the heartlands. Research indicates that 95% of Singaporeans prioritise commute time when considering job opportunities, with 53% preferring to work close to home. Currently, IWG operates eight flexible workspaces in Singapore’s heartlands, including areas like Tampines and Novena.
IWG’s CEO, Mark Dixon, noted, “2024 was a landmark year, reaching record revenue and experiencing our strongest network expansion to date.” The company plans to continue investing in its platform and expanding its network through capital-light methods such as management agreements and franchising.
With over 4,000 locations in more than 120 countries, IWG is poised for further growth, tapping into a market of over 1.2 billion white-collar workers globally. The flexible workspace sector is projected to grow by 600% by 2030, underscoring the potential for continued expansion.
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