Co-Working Space Industry To Grow by 50 % in 2017: IndiQube

A historic growth in the number of startups coupled with a significant proportion of young freelance professionals will push the co-working space industry beyond 40-50 per cent growth in the year 2017:

According to a prediction by IndiQube, a leading smart workspace solutions provider the demand for new office spaces in the country would reach 40 million square feet by the end of year 2017 as the new age businesses are increasingly eying more productive and efficient spaces then just a floor with cubicles.

''At present, young professionals in India are not just looking for comfortable and strategically located offices, but also giving significant weightage to add on services like Gymnasiums, Employee Engagement Programs, Shared transport etc. in their decision to pick an office space,'' said Meghna Agarwal, Co-Founder, Indiqube.

Co-Working spaces in India today are emerging as a perfect blend of structures of commercial activity as well as platforms for networking and cultural activities, making them a desirable option among young professionals and entrepreneurs in the country.

''All co-working spaces have one common offering – a hassle-free environment for the conducive growth of a business, which makes these spaces a hive for the young busy bee entrepreneurs to co-work in,'' added Ms Meghna.
Also while initially the concept of co-working spaces was largely confined to startups, standalone professionals, the sector is now witnessing a tactical shift with even corporate professionals eyeing to leverage the benefits of increased productivity in these spaces.

''Corporate professionals are swapping suits for casuals and occupying workstations at these flexible spaces and this trend is likely to grow leaps and bounds in the coming times," said Ms Meghna.