'Work near home' lifts corporate leasing of co-working spaces by 73% in H1

Companies are looking at managed spaces for the triple benefits of cost savings, lease flexibility and the hybrid/hub-spoke model of working that they offer

The leasing of flexible or co-working spaces by companies has seen a spurt in the first half of the year as companies took offices closer to their employees’ homes during the second wave of the pandemic.

The surge was as much as 73 per cent, with 31,538 seats taken on lease during the first half of 2021 on a yearly basis, property consultant Cushman & Wakefield said. Enterprises had leased 36,255 seats in the whole of last year.

In contrast, leasing of office spaces in six Indian cities in H1 of FY21 fell 22 per cent year-on-year to 10.1 million