BANGALORE, India, Sept. 9, 2024 /PRNewswire/ -- Table
Space, in partnership with Cushman & Wakefield, has
released a report, 'From Flex to Managed - Evolution of the Flex
Space Industry', which highlights the transformative
growth in India's flexible
workspace segment over the past decade. The report attributes this
growth to the increasing adoption of Managed Office Solutions
(MOS), which offer optimized capital expenditure, flexible leasing
terms, value-added services, quick operational readiness, and
complete transparency.
As of H1 2024, the flexible workspace footprint in India's top 8 cities reached 58 million sq ft,
accounting for over 7-8% of the country's total Grade A office
supply. The report further highlights the flex space inventory
across the top 8 cities. Bangalore
leads the way with 31% of the total stock, followed by Delhi NCR
(16%), Pune (14%), Hyderabad (14%), and Mumbai (11%).
According to the report, both operators and occupiers have been
transitioning towards the MOS model. This model particularly
appeals to global corporations, with India becoming a key GCC hotspot, offering
ideal local real estate solutions.
The IT sector leads the way with 40-50% seat absorption for
curated offices in the last 18 months (2023 and H1 2024), followed
by Engineering & Manufacturing (14-18%), BFSI (9-12%), and
Professional Services (11-12%). In the same period, active flex
space operators grew to 300 - with the top 5% holding over 50%
Grade A stock, mostly focusing on MOS.
With the rise of GCCs in India,
Table Space has recently appointed two global strategic leaders:
Robert Newman as Non-Executive
Chairman and John Hogan as Chief
Sales Officer, Americas. These appointments highlight the company's
commitment to driving GCC enablement and enhancing support for its
global clientele through comprehensive service offerings.
John Hogan, Chief Sales
Officer – Americas, Table Space said, "Table Space remains a
pioneer in Managed Office Solutions (MOS), with a strong commitment
to innovation and client service. The Cushman & Wakefield-Table
Space report highlights MOS's growing traction among global
corporations in India, with the
IT-BPM sector accounting for 40-50% of seat absorption in 2023 and
H1 2024. As India's largest GCC
enablement partner, we drive growth by delivering tailored,
high-quality solutions for dynamic needs."
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