Wednesday 24 July 2024

IWG's flexible workspace

IWG opens state-of-the-art hybrid workspace in Muscat

MUSCAT, June 10, 2024

IWG, the world’s largest provider of hybrid working solutions, with brands including Spaces and Regus, has opened a state-of-the-art flexible workspace in Muscat to meet the increasing adoption of hybrid working across Oman.

The opening of IWG’s latest location at Al Fardan Heights 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 spread of hybrid working has led to extraordinary growth in the number of IWG centres, with 100 new locations signed in the region within the last 12 months. IWG’s Middle East and Africa network now aims to operate 1,000 locations across the region within the next three years.

Situated in Ghala, this new Regus location is part of a drive by IWG to meet the sharply rising demand for top class flexible working space in the area. The recently opened workplace provides space for established firms and start-ups across a range of industries, with facilities including private offices, meeting rooms, co-working and creative spaces.

The building owner decided to invest in the IWG platform to maximise the return on their real estate space by capitalising on the rapidly expanding demand for hybrid working.

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.

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 be flexible workspace by 2030. With IWG, partners are able to capitalise on this fast-growing sector, while being supported by IWG’s unparalleled experience.

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 more than 4,000 locations in more than 120 countries with members able to access all of 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 over 800 new partner locations and counts 83 per cent of Fortune 500 companies among its customer base.

Mark Dixon, CEO & Founder of IWG, said: “We are establishing a stronger and much-needed footprint in Oman with this latest opening. As an important business hub, Muscat is a fantastic place for us to boost our expansion plans.

“The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal. We are very pleased to work in partnership to develop the Regus brand under a management agreement that will add a cutting-edge workspace to the building.

“Our opening in Al Fardan Heights comes at a time when more and more companies are discovering that flexible working boosts employee happiness and satisfaction, while helping the environment. Our workplace model is also proven to increase productivity and allows for a business to scale up or down at significantly reduced costs.”

IWG said its 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. – TradeArabia News Service



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