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Co-working operators seek closer ties with landlords as new flex space take-up falls to five-year low

The pace of expansion slows significantly post-pandemic, as operators take on a cautious stance

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Jessie Lim

Jessie Lim

Published Thu, Dec 5, 2024 · 05:00 AM
    • At GuocoLand’s Network Hub, there are two large, fully fitted-out private office suites which can be leased on a short to medium-term basis to tenants at Guoco Midtown, as well as third-party clients.
    • At GuocoLand’s Network Hub, there are two large, fully fitted-out private office suites which can be leased on a short to medium-term basis to tenants at Guoco Midtown, as well as third-party clients. PHOTO: GUOCOLAND

    WHILE flexible workspace take-up fell to the lowest in five years, some co-working companies continued pushing on with expansion plans in 2024. 

    An estimated 45,000 square feet (sq ft) of space was taken up by flexible space operators in 2024, down from the pre-pandemic peak of around 700,000 sq ft in take-up in 2019, according to figures compiled by Colliers for The Business Times. 

    Take-up refers to the new space occupied by flexible operators every year.

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