WE have heard a lot about flexible workspace - in particular coworking - and its rapid emergence in urban centres around the world, and most recently in Asia-Pacific. According to latest JLL data, the facts are staggering:

Over the past couple of years, we have seen the entry of international operators and the expansion of home-grown Singaporean operators such as The Great Room and JustCo. South-east Asia has been named as a target for growth for international operators such as WeWork, which has committed US$500 million to its expansion plans in the region.

While flexible options in the form of serviced offices have been common for years, the advent of coworking has had a significant consequence: providing impetus and inspiration for corporates to transform how they view their portfolios and office space. The trend started with the tech sector, and gathered pace when coworking operators such as WeWork launched in the early 2010s, encouraged by the tailwinds of the gig economy, tech-enabled flexible working and increased emphasis on the employee experience in response to the war for talent. This has put the spotlight on the importance of the workplace for real estate and corporate executives alike.