Shared office spaces have witnessed global expansion in the recent years. With immense growth of serviced offices & co-working spaces, it is no longer considered a subsector but a fundamental core of commercial real estate. In India, this market is consistently growing because of several viable reasons.
As per the findings of a CBRE report, shared office space leasing in India will touch 10 million sq. ft. by 2020. While this indicates inevitable growth for this market in the upcoming years as well, let’s find out which factors are fostering widespread expansion of shared office spaces in India:
1. Startup India Initiative – Began in 2015 with the objective of promoting India as a start-up hub across the world, this Indian Government initiative has incentivized start-ups in numerous ways. The low-interest rate loans to entrepreneurs, funding support and incentives are some of the key drivers that led to a wave of entrepreneurship in India. The initiative has begotten several small & mid-sized businesses that work out of shared offices due to no huge upfront investments, flexible rentals, and lower OPEX.
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