IWG Adds New Workspace As Demand For Hybrid Working Rises

By Soko Directory Team / Published April 17, 2024 | 5:40 pm



Workspace

IWG, the world’s largest provider of hybrid working solutions with brands including Spaces and Regus, is opening another state-of-the-art flexible workspace in Nairobi. As the adoption of hybrid working rapidly accelerates across Kenya, the number of inquiries for space in IWG locations has risen sharply and this new opening helps meet rising demand.

The addition of IWG’s latest location at Pramukh Towers comes on the heels of the business posting its highest-ever revenue in its 35-year history and achieving rapid network growth, adding 867 new locations throughout 2023.

Set to open on 18th April, HQ Pramukh Tower will be situated in the heart of the Banking Circle in Westlands, Nairobi. The new workspace is part of a drive-by IWG to meet the sharply rising demand for top-class flexible working space in the city.

Located on the 4th, 5th, and 6th floors of the EDGE-certified green building – rated the most environmentally friendly in Westlands – the impressive A-Grade location will house a fully functional HQ-branded workspace, complete with co-working spaces, private offices, meeting rooms, and creative spaces including a private lactation room for mothers. 

The building owner decided to invest in the IWG platform to maximize the return on their real estate space by capitalizing on the rapidly expanding demand for hybrid working. With an annual investment of around £50m ($64m) into its technology platform, IWG provides partners with access to all the company’s expertise as well as design and fit-out support and sales and marketing capabilities.

With explosive market growth as companies of all sizes adopt hybrid working for the long term, it is predicted that 30% of all commercial real estate will be flexible workspace by 2030. With IWG, partners can capitalize on this fast-growing sector, while being supported by IWG’s unparalleled experience. Hybrid working offers companies a significantly lower cost base with an average saving of £9,000 ($11,000) per employee[i].

IWG is the world’s leading provider of flexible workspace – featuring more than 4,000 locations in more than 120 countries with members able to access all the locations and business services via the IWG app.

As the ongoing shift towards hybrid working accelerates, the potential for further growth is exponential with an estimated 1.2 billion white-collar workers globally and a total addressable market of more than $2 trillion (£1.57 trillion).  Conventional office occupancy will continue to fall as businesses require less traditional space and turn to flexible workspace instead. In 2023, IWG welcomed over 800 new partner locations and counts 83 percent of Fortune 500 companies among its customer base.

Mark Dixon, CEO & Founder of IWG, commentedWe are establishing a stronger and much-needed footprint in Nairobi with this latest opening. As an important business hub, Pramukh Towers is a fantastic place for us to boost our expansion plans. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal. We are very pleased to work in partnership with the landlord to develop the first HQ-brand workspace in Kenya under a management agreement that will add cutting-edge workspace to their building.

“Our opening in Nairobi comes at a time when more and more companies are discovering that flexible working boosts employee happiness and satisfaction while helping the environment. Our workplace model is also proven to increase productivity and allows for a business to scale up or down at significantly reduced costs.”

IWG’s multi-brand expansion strategy is designed to appeal to every type of business and entrepreneur. IWG creates personal, financial, and strategic value for businesses of every size, from some of the most exciting companies and well-known organizations on the planet, to individuals and the next generation of industry leaders. All of them harness the power of flexible working to increase their productivity, efficiency, agility, and market proximity.

Read Also: Fostering Collaboration Across Industries Through The Bustling Of Kenya’s Co-Working Spaces




About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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