The trend of flexible working arrangements for companies, once a pandemic fad, will remain a factor for Hong Kong's office space market, the South China Morning Post reported, citing the International Workplace Group.
Economic uncertainty could even drive demand for flexible working arrangements upward and move companies away from traditional office setups and leases, according to the report.
The demand could drive landlords to partner with IWG, especially as leases for empty office spaces will increase over the coming years, according to the SCMP report filed April 27, citing IWG's CEO for Middle East, Africa and Asia-Pacific, Marc Descrozaille.
IWG is Hong Kong's largest flexible office space provider with 21 centers throughout the city, the report said.
IWG partnered with Hysan Development (HKG:0014) in 2021, with Hysan purchasing IWG's locations in the bay area, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.