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The COVID-19 pandemic and its spawning of hybrid/remote working models is nothing new. But every now and then, experts huddle together and write op-eds debating if the hybrid thingy is going to eliminate the office sector altogether.
After some brain push-ups, here's how things stand:
🔖 Less is more for some, while some need more for expansion into various locations/verticals/regions.
🔖 Commercial/office space is not entirely out of favour with 100% remote working failing as a solution.
🔖 Most companies are calling back employees to office and even they’re only too happy to return.
🔖 Some downsizing has taken place in the short term although flexi office space brands have created a bigger niche.
What the market says
📌 India will benefit from its cheaper flexible office prospects per a group of experts.
📌 Another report confirms stable vacancy rates of 18.5% for the first time in two years, for the last quarter.
📌 Occupancy is set to go up even further, boosting the office sector. Yet another report shows office absorption at two-year highs of 13 million sq. ft. for Q1 2022.
In one sip
🔖 Less is more for some, while some need more for expansion into various locations/verticals/regions.
🔖 Commercial/office space is not entirely out of favour with 100% remote working failing as a solution.
🔖 Most companies are calling back employees to office and even they’re only too happy to return.
🔖 Some downsizing has taken place in the short term although flexi office space brands have created a bigger niche.
What the market says
📌 India will benefit from its cheaper flexible office prospects per a group of experts.
📌 Another report confirms stable vacancy rates of 18.5% for the first time in two years, for the last quarter.
📌 Occupancy is set to go up even further, boosting the office sector. Yet another report shows office absorption at two-year highs of 13 million sq. ft. for Q1 2022.
In one sip
Office spaces have bounced back. There may have been some disruption. The ways of work may change. But there seems to be a Happy Ending in sight, albeit except Monday mornings.