Regus Boosts Presence in Vadodara, Gujarat
VADODARA: IWG, the world’s largest provider of hybrid working solutions with brands including Spaces, Regus and HQ, has opened its first, state-of-the-art flexible workspace in Vadodara, Gujarat. The new center will go a long way to meet the growing demand for premium flexible working spaces in the city. The addition of IWG’s newest location in Gujarat 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 over the course of 2023.
The center, located centrally in Suraj Nagar, Karelibagh, establishes a high-quality and flexible office space footprint in Vadodara. There are varied flexspaces available for people to choose basis the workstyle they prefer – ranging from fully equipped day offices, small offices, custom offices, or large suites, all of which come fully furnished and ready-to-use with a secure and reliable IT infrastructure.
The launch of the new Regus center marks yet another significant milestone for IWG and reaffirms its commitment to empowering businesses and individuals with innovative workspace solutions tailored to the demands of the modern workforce. The center will provide space for established firms and start-ups across a range of industries including IT&ITES, auto, pharma, biotech, textiles, agritech, logistics and others.
Harsh Lambah, Country Manager India and Vice President – Sales, IWG, commented: “We are excited to be expanding our footprint in Gujarat, one of India’s most vibrant states. With this new launch, we now move beyond Ahmedabad, extending IWG’s footprint to Vadodara, one of Gujarat’s fastest growing economic hubs. Known for its rich cultural heritage and dynamic business environment, the city becomes yet another important addition to our regional market expansion. The center will offer a mix of flexible and long-term workspace rentals, for both office spaces and office suites that can be customized in terms of layout and branding as per client needs. Going forward, we plan to expand further into Gujarat, tapping other regional hubs such as Rajkot and Surat, thereby continuing to grow IWG’s network in west India, and contributing to the growth and success of local businesses and individuals in the Gujarat market.”
The addition of IWG’s newest location in Vadodara comes on the heels of the business posting record quarterly revenue and achieving rapid network growth, adding more than 850 new locations across the world over the course of 2023. IWG works closely with commercial property owners and developers to reimagine and revitalise traditional spaces into vibrant and productive work environments, while delivering enduring revenue streams for its partners. A remarkable 95% of IWG’s new locations involve partnerships with property owners and investors to establish innovative workspaces. The openings follow a partnership agreement with the building owner, who has invested in the IWG platform to create a branded flexible workspace in their building.
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.
India’s non-metropolitan areas continue to show high potential to become centres for hybrid working models in certain sectors. 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 constitute flexible workspaces by 2030. Hybrid working offers companies a significantly lower cost base with an average saving of £9,000 ($11,000) per employee.
IWG is the world’s leading provider of flexible workspace – featuring almost 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 hundreds of new partner locations and counts 83 percent of Fortune 500 companies among its customer base.
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 organisations 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.
For more information, visit IWG
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