Smartworks: Transforming India’s Managed Spaces

In recent years, the landscape of flexible workplaces has experienced a significant change, with a proliferation of flex operators rapidly emerging. Moving beyond traditional co-working concepts, a new standard has emerged within the commercial real estate (CRE) industry. This shift can be attributed to the appeal of managed office solutions, which offer versatility, scalability, and customization, thus gaining widespread appeal.
According to a recent report on India's Flex Space Market 2023, managed space operators have witnessed a remarkable tenfold growth in their operational footprint, reaching approximately 15 million square feet by March 2023 compared to 2018. Meanwhile, both coworking and hybrid players have experienced declines in their respective shares of operational flex stock over the past two years.
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