International Workplace Group (IWG) is expanding its footprint in Budapest and Debrecen, Hungary with the addition of two new workspaces planned for 2024.
The addition of IWG’s two latest locations comes on the heels of the business posting its highest-ever half-year revenue and achieving rapid network growth with 612 locations added globally between January and September 2023. This unprecedented demand from companies of all sizes and workers looking for hybrid working solutions means IWG will add 1,000 new locations over the next year.
With explosive market growth as companies of all sizes adopt hybrid working for the long term, it is predicted that 30 percent of all commercial real estate will be flexible workspace by 2030. With IWG, partners can capitalise on this fast-growing sector, while being supported by IWG’s unparalleled experience. Hybrid working offers companies a significantly lower cost base with an average saving of $11,000 per employee.
Hungary is one of CEE’s fastest-growing regional locations. Demand for workspaces in the region has performed strongly, with the number of enquiries for space in IWG locations continuing to sharply increase.
Spaces River Part – set to open July 2024 – is located in a top, class ‘A’ office building on the riverbanks of Budapest. Spanning an impressive 5,400 sqm, the new flexible workspace will offer the working community of Budapest modern private offices, dynamic meeting rooms, coworking and creative spaces. Bringing the full breadth of IWG’s world-class facilities to the capital, the new location has been designed for limitless creativity and productivity.
Regus Debrecen will provide a new hybrid workspace from the second-largest airport in Hungary, becoming the ultimate workplace for the travelling business world. Launching in August 2024, Debrecen International Airport will open 1,400 sqm of flexible workspace with all the amenities customers could need at their fingertips.
The building owners decided to invest in the IWG platform to maximise the return on their real estate space by capitalising on the rapidly expanding demand for hybrid working. With an annual investment of around £50m into its technology platform, IWG provides partners with access to all the company’s expertise as well as design and fit-out support and sales and marketing capabilities.
Mark Dixon, CEO & Founder of IWG commented, “Hungary is an important area of focus for us with significant growth potential. We are very pleased to open these two new locations and many more will follow as the popularity of hybrid working continues to soar. We are very pleased to work in partnership with our esteemed partners to develop the Regus and Spaces brand under management agreements that will add cutting-edge workspaces to their buildings.
As the ongoing shift towards hybrid working accelerates, conventional office occupancy will continue to fall as businesses require less traditional space and turn to flexible workspace instead. In 2022, IWG welcomed hundreds of new partner locations and is on track to add around 1,000 over the next year. IWG already counts 83 percent of Fortune 500 companies among its customer base.