SINGAPORE: International Workplace Group (IWG) has added 115 new workspaces across Asia Pacific as part of its 624 new locations opened globally in 2024, the hybrid workplace platform announced in a press release on Monday (Apr 28). Most of these new spaces are in suburbs, smaller commuter towns, and cities. Last year, IWG signed 899 new centres to its network.
Globally, IWG has been expanding into smaller towns with populations as low as 5,000 to 10,000, including Destin in Florida, Willimantic in Connecticut, and Stafford in Texas, as well as Castle Donington, Evesham, and Kettering in the UK, which are seeing strong demand for hybrid work solutions.
Mark Dixon, IWG Founder and CEO, said: “2024 was a landmark year, reaching record revenue and experiencing our strongest network expansion to date, with 899 new centre signings and 624 openings.”
In Singapore, where 95% of workers consider commute time a key factor when looking for new job opportunities, 53% prefer to work close to home, and 52% of women see hybrid work as key to advancing their careers, IWG has opened eight flexible workspaces in the heartlands, including Tampines, Balestier, Paya Lebar, and Novena, to date.
Most of the new locations (95%) were signed through managed partnership agreements, as property owners with vacant spaces are turning to IWG to fill these gaps.
Through its “capital-light expansion” strategy, IWG has launched well-known brands such as Regus, Spaces, HQ, and Signature, along with newer partnerships like its tie-up with Yoo, a major residential design company.
By 2030, the flexible workspace sector is projected to grow by 600%. /TISG