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Co-working: The office of the future

Knight Frank India’s latest report on Co-working takes a look at the changing perceptions of the workplace from conventional offices to modern flexible office spaces in keeping with a disruptive, uncertain, collaborative and innovation heavy operating environment.

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Key findings of the report

  • India, today, is witnessing a proliferation of start-ups and SMEs, buoyed by the government’s concerted efforts to create a sustainable eco-system for entrepreneurs in the country.
  • The number of co-working spaces across the globe has grown by 3,050% (600 centres to 18,900 centres) since 2010 while the number of people working in these facilities has exploded by close to 8,000% by growing from 21,000 seats to 1.7 mn seats in the same period, according to Statista Dossier.
  • India is at the cusp of a co-working revolution with several large players spread across the country. There are close to 200 co-working players running an estimated 400 shared workspaces across the country today.
  • While co-working companies took up a modest 0.17 mn sq mt (1.8 mn sq ft) in 2017, the first quarter of 2018 itself has exceeded the annual tally of 2017.
  • Currently, NCR, Mumbai and Bengaluru house most of the co-working stock in India followed by Pune and Kolkata.