IWG To Increase Branches By Another 1,000

GLOBAL – Amidst the rising popularity of hybrid work arrangement in a post-pandemic era, coworking space provider IWG announced on Friday that it intends to add over 1,000 new branches across the world this year, especially in suburban areas, reported Reuters on Saturday morning (19 March, SGT).

The decision of the London-listed operator of flexible office spaces comes at a time when owners of commercial properties, particularly offices, are slowly rebounding following the slump caused by the virus outbreak, as businesses pivot to a permanent hybrid model in which staff split work hours between their office and residence.

“The shift from fixed workspace to flex is now irreversible and the business will continue to accelerate its growth adding a thousand locations in the next year alone,” stated IWG’s CEO Mark Dixon during MIPIM, an international real estate conference.

IWG, which owns the Regus and Spaces brands, operates at roughly 3,500 buildings in over 120 countries, and 83 percent of the Fortune 500 companies are its clients. However, the flexible office space provider did not disclose the net addition to its outlets for this year, which takes into account branches that have closed.

Notably, the firm’s clients can access to IWG’s wide network of outlets. It also offers different kinds of office packages, providing staff with flexibility on geographical terms as well.

Earlier this month, the Switzerland-based company announced that it would merge its digital assets with The Instant Group, a flexible workspace platform, as flexible workspace providers gain from the hybrid work trend.