Commercial real estate in many important metros around the globe is likely to experience a slowdown in off-take from the growing focus on Coworking spaces around the globe. The remote work culture has come to stay and though some of the major employers are now toying with the idea of closing out the work-from-home or remote working option for employees, it could be several months into 2023 before this shift gets implemented totally.
Yet, experts believe that existing Coworking space in Gurgaon Golf course road and similar facilities may not feel the heat for several years to come because of the fresh uptake of the existing facilities.
Business growth and business continuity have remained robust
Another interesting factor is that most employers did not experience any dent in business continuity or business growth from the transition to working from home or remote working due to the pandemic. Shared office space in Gurgaon and elsewhere have contributed in rich measure to this growth by providing all the amenities needed for the smooth flow of work from smaller teams dispersed across metropolitan locations. Yet, every tech giant is not planning to downsize their office space and Google for instance has recently reported its plans to spend as much as multi-billion dollars on new data centers and office space.
The Coworking industry is poised to grow further
Against this backdrop, the Coworking industry has shown impressive growth. Only a few years back, startup hopefuls and freelancers found the idea of working from shared office space in Gurgaon enthralling, particularly with the chance to work with and meet strangers. But, in the post-Covid world, this became a harder sell. Thankfully, it was only a passing phase and Coworking spaces are on their growth trajectory again.
Given the social distancing norms and other stipulations by health authorities, Coworking spaces across the globe did face some testing times with a sharp drop in demand. However, 2022 is seeing renewed interest in shared office space in Gurgaon and the coming days are bound to see even more Coworking spaces competing with traditional offices.