Regus Meets Hybrid Work Demand with New Offices in Punjab.
Jalandhar: IWG, the world’s largest provider of hybrid working solutions with brands like Spaces and Regus, has inaugurated a cutting-edge flexible workspace on the 5th Floor of PPR Mall, 120ft Road, Ravindra Nagar, Phase 2, Khurla Kingra, Jalandhar, Punjab. With hybrid working rapidly gaining traction across Punjab, the demand for space at IWG’s co-working locations and flex spaces has surged. This new opening addresses the growing need for such spaces.
Located centrally, the new center aims to fulfill the demand for premium flexible working spaces in the area. By providing high-quality flexible office space in Punjab, IWG allows local professionals to benefit from a ’15-minute city’ lifestyle, working close to home without long commutes. The center offers a variety of flexspaces to suit different workstyles, including fully equipped day offices, small offices, custom offices, and large suites. All spaces are fully furnished and feature secure, reliable IT infrastructure.
The launch of the Regus office in Jalandhar marks another milestone for IWG, reaffirming its commitment to providing innovative workspace solutions tailored to modern workforce demands. The center will serve established firms and start-ups across diverse industries such as IT & ITES, telecom, pharma, biotech, textiles, agritech, and logistics.
IWG’s latest addition in Jalandhar follows a year of record revenue and rapid network growth, with over 850 new locations added worldwide in 2023. IWG collaborates with commercial property owners and developers to transform traditional spaces into dynamic, productive work environments, ensuring sustained revenue streams for its partners. Remarkably, 95% of IWG’s new locations result from partnerships with property owners and investors. The new Jalandhar location emerged from a partnership agreement with the building owner, who invested in the IWG platform to establish a branded flexible workspace.
With an annual investment of around £50 million ($64 million) in its technology platform, IWG offers partners access to its expertise, design, fit-out support, and sales and marketing capabilities. The demand for workspaces in Jalandhar has been robust, with enquiries for IWG locations increasing sharply throughout 2023. Non-metropolitan areas in India show high potential for hybrid working models, particularly in sectors like technology, media, and telecommunications.
Harsh Lambah, Country Manager India and Vice President – Sales, IWG, commented: “We are excited to expand in Punjab, with our current footprint in Chandigarh and Zirakpur, and the addition of a new workspace in Jalandhar. Our plan is to further expand into other cities such as Mohali, Ludhiana, and Patiala, to strengthen IWG’s growing footprint in North India, especially in Punjab. The new center will offer a mix of flexible workspace rentals, including office spaces and office suites that can be rented on a long-term basis and customized as per client branding and layout.”
As companies increasingly adopt hybrid working, it is predicted that by 2030, 30% of all commercial real estate will be flexible workspace. Hybrid working offers companies significant cost savings, averaging £9,000 ($11,000) per employee.
IWG, the leading provider of flexible workspace, boasts nearly 4,000 locations in over 120 countries. Members can access all locations and business services via the IWG app. With the shift towards hybrid working accelerating, the potential for further growth is vast, with an estimated 1.2 billion white-collar workers globally and a total addressable market of more than $2 trillion (£1.57 trillion). In 2023, IWG welcomed hundreds of new partner locations and counts 83% of Fortune 500 companies among its clientele.
IWG’s multi-brand expansion strategy aims to attract every type of business and entrepreneur, creating personal, financial, and strategic value for companies of all sizes. From major corporations to individual entrepreneurs, all harness the power of flexible working to boost productivity, efficiency, agility, and market proximity.
