For over a decade the office space segment in India has undergone massive transformation. The trend has been shifted to flexible workspaces in place of leased spaces. With their vibrant ambience and a host of services without the hassle of long-term leasing commitments, flexible workspaces have become a full-grown segment in the Indian real estate market. Being home to several indigenous corporates & startups flexible workspaces have also become a rewarding avenue for the establishment of multinational companies in India.
As per CBRE’s Asia Pacific’s 2017 Occupier Survey, 64% of multinational occupiers plan to use some form of third party office solutions by 2020. Evidently multinational companies are betting heavily on flexible office spaces in India as a convenient mode of their business establishment. Let’s take a look at the key drivers for the increasing demand of office spaces in India:
• A Packaged Deal with Serviced Offices
Serviced offices are a fine combination of everything that’s needed to run a business smoothly. They are a gateway for multinational companies to start their business in a furnished office without having to make a long-term commitment. These ready-to-move office spaces having in-house cafeteria and all baseline facilities promise seamless business operations. Serviced offices also require less upfront investment as they feature pay-per-desk rentals. This becomes a strong facilitation point for multinational companies to give a head start to their businesses in India.
• Business Support Services
Remaining focused on core business operations calls for a helping hand to handle various other fundamental functions which are important for smooth functioning of a business. Serviced offices offer a strong business support setup including services like taxation counseling, maintaining registration & legal compliances, concierge services, IT support, HR support, marketing services and more. This helps companies put these non-core yet significant functions in the safe hands of experts working with the office space providers. A strong business support system is therefore an important determinant for rising demand of office spaces in the ever-evolving Indian market.
• Latest Technology
Multinational companies never fail to keep abreast of technology. With IoT making its way in flexible offices, space occupants experience voice command based actions & digital flipcharts in conference rooms, automated concierge desks, cloud-based access control and app-based service bookings. This becomes another important factor why multinational companies prefer moving into flexible workspaces having a sound technology infrastructure ready to add convenience to their business journey.
• Flexibility to Upsize & Downsize
Most multinational companies have to settle their regional teams in other countries which keep expanding or contracting as per their business requirements. In serviced offices upsizing and downsizing is seamless as costs increase or reduce in congruence with the addition or reduction of seats being taken.
• Cost Effectiveness
Cost effectiveness is closely tied to every other benefit of occupying a flexible office space. When multinational companies go for leased spaces, they not only have to incur huge cost for signing long-term agreements but also infuse more money to get their fit-outs done and arrange for other utility services. Opting for flexible office spaces, businesses rule out high upfront CAPEX. To a large extent serviced offices save them on recurrent OPEX like AMCs for electronic appliances and printers, office maintenance, cleaning & housekeeping and more reducing the cost to a fixed monthly rental as per the business requirements.
Vatika Business Centre – Redefining the Joy of Working
Vatika Business Centre’s ergonomically designed office spaces are established at key locations and A-grade buildings across 9 major cities of India. Offering ready-to-move serviced offices equipped with cutting-edge technology, VBC has been imparting service excellence in the office space industry for the past 14 years having established various domestic and international companies in their business centres. If you are planning to start or expand your business in India, get in touch with the only Indian business centre with ISO 9001:2015 certification, recognized as ‘Brand of the Year 2018’.