Global leader in hybrid working IWG Plc is expanding to seven new sites in the Philippines to serve the increasing demand for co-working spaces.
IWG Philippines country manager Lars Wittig said the Philippines rebounded from a 25-percent decline in occupancy rate.
“PH is doing so well and we already reached our target. This year we are opening a number of locations and there’s one that is already opened in Iloilo and another that our contractor is finalizing in Cagayan de Oro,” Wittig said.
He said the Philippines is believed to be one of the top five destinations for flexible workspace in a global meeting he attended in Dubai.
IWG, with the addition of seven locations, will have a total of 30 flexible centers in major cities in the Philippines.
Wittig said IWG is closely working with real estate companies and property developers on real estate investments particularly building owners who want to reinvent their properties.
“Buildings are static things. The way to reinvent it is to bring in the element of flexible workspace and we already have the demand. They have the infrastructure but they can’t do it themselves. The numbers are mind boggling from the number of inquiries to number of customers,” he said.
He said for companies that are rightsizing, the trend is flexible.
IWG with subsidiary Regus gets an average of 2,000 inquiries in the Philippines every month on REITs alone, he said.
Based on projections by real estate consultancy firms, 30 percent of commercial office space will be transformed into flexible workspace by 2030.
IWG is the only co-working space provider that has a national network for flexible workspace. The company has presence in Clark, Cebu, Davao and throughout Metro Manila.
“We have been certified as a carbon neutral company because of the fact that we cutting down on people’s commute,” Wittig said.
IWG has 3,500 locations in 120 countries which makes it accessible for traveling executives to communicate with their companies and their employees.