Coworking spaces: A case study of our biggest win in the industry
Our biggest win as a coworking space is definitely the 4X growth that we, BHIVE Workspace, managed in FY22. From having a footprint of about 2 Lakh sq. ft. to getting spread over 10 Lakh sq. ft. within a financial year. We have seen massive scaling. What is the reason for this? It is the massive scaling and funding flowing into the coworking industry. Coworking is seen as the future of office spaces and has started to reflect in the market.
Globally, coworking spaces are on the rise and marking multi-fold growth. Post the pandemic lockdown, employees globally have adopted the hybrid model of working. This working style has proved to be more productive and satisfying for most. This very reason has led to the boom in coworking spaces as well. New coworking space brands are popping up even in tier 2 and 3 cities.
While considering this coworking spaces case study, one has to also understand that such scaling was calculated risks and not done in blind faith. The point is, coworking spaces are among the most complicated sections in Real Estate, calling for close observation. The industry is delicate in the sense that it has to be repeatedly looked after to make sure that things are falling in place and not causing an inconvenience to those who provide the space or use it as a workspace.