COVID-19’s influence has amplified a range of versatile workspace patterns that have now spread globally.
With more businesses emphasizing employee well-being, hygiene, and a healthy work-life balance, demand for virtual offices in Dubai will continue to rise, playing a key role in the incremental ‘return to work’ or ‘new normal’ away from the workplace.
Enterprise outsourcing and decentralization, a surge in fitness services, and a resurgence in suburban office locations are only a few of the trends that will arise in 2021. Furthermore, the demand for highly-amenitized assets is driving new office growth, with coworking operators like Focal Point Business Center quickly evolving to meet these demands and providing members with best-in-class hospitality.
In 2021, what will the future of work look like?
We at Focal Point Business Center one of the best companies that lease office spaces in Dubai have analyzed 7 of the main markets on Coworker — the leading site for booking coworking spaces worldwide — to understand the major impacts that COVID-19 has had on the coworking industry this year.
The resulting report, Outlook for Key Markets: 2020 Report, gives a broad overview of the industry’s developments and their consequences for operators, as well as industry predictions for 2021. We were able to draw the following conclusions for 2021 after studying the flexible office space markets in Dubai, Hong Kong, Lisbon, London, New York City, and Pune:
- The demand for low-risk, scalable flex workspace is increasing among businesses. Coworking operators have seen a sharp rise in businesses and corporations looking to take advantage of the benefits of flexible space-as-a-service and office decentralization, as Sydney has shown.
- Landlords are seeing new investment possibilities as corporations transition to coworking. Despite the fact that landlords have traditionally avoided coworking expansion, Hong Kong’s market shows them taking advantage of empty space to meet new demand from large corporations and tech firms.
- The expansion of Grade A vacancies and mostly residential markets is expected to continue. – Demand is expected to increase in India’s Tier II and Tier III cities, as well as elsewhere, as residential coworking spaces become more common.
- Occupancy rates will stabilize and eventually rise after a decrease in 2020. – Despite a drop in demand in April this year, occupancy levels in many key markets, such as London, have remained relatively stable. If the need for remote teams grows, this will lead to increased resiliency in the future.
- Operators will place a premium on wellness programs in order to satisfy the demand from professionals for clean, healthy work environments. – As the lure of big city life fades, coworking spaces in Lisbon have shown that creating a brand that emphasizes overall work-life balance and wellbeing is now a crucial differentiator.
- Office layouts that are open to the public will become increasingly obsolete. – Operators will emphasize design elements such as appropriate spacing and touch-free fixtures as they redesign their workspaces and provide more private, enclosed offices in order to comply with new safety regulations in densely populated areas like New York City.
- For new alliances and hotel-based workspaces, more hospitality brands can switch to coworking. – Leading hotel chains, such as Focal Point Business Center in Dubai, one of the leading providers of office spaces in Dubai for rent will collaborate with coworking spaces to provide more flexible work opportunities at their locations.
Today’s workforce has come to expect and prefer coworking spaces as a place to work. This is more true than ever, particularly as more businesses turn to permanent remote work options in the aftermath of the corona virus outbreak. Flexible workplace technologies are being incorporated into the real estate strategies of companies implementing hybrid work models in order to meet the needs of remote employees in various cities and countries.
It’s not only increased corporate adoption that suggests coworking is the new, chosen norm; it’s also the increased interest in the coworking industry from tenants, property developers, and investors.
The pandemic has wreaked havoc on the coworking industry. However, there are brighter days on the horizon.
Despite a slowdown in development, research from the previous year indicates that the coworking industry will emerge from the COVID-19 pandemic alive and well.
Wellness services would be prioritized by coworking space providers to meet the need for a secure and balanced work environment. Many leading coworking brands have already begun to meet this demand by establishing a brand that focuses on professionals’ overall work-life balance and wellbeing, and this will be a key differentiator in the coming year.
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People now have the freedom to work while traveling, thanks to the digital transformation of the workplace. This will help leading coworking companies with numerous locations provide all-year access to their premium customers, allowing them to operate from any of their locations in the region, country, or world. Many coworking spaces will increase and fill their workspace demand with this wide value-add.
For all of your virtual offices and office spaces needs in Dubai contact Focal Point Business Center.