IWG, the world’s largest provider of hybrid working solutions with brands including Spaces, Regus, HQ and Signature, is expanding its Hungarian portfolio with three new openings, as the demand for hybrid working rapidly accelerates.
The addition of IWG’s latest locations in Budapest and Debrecen comes on the heels of the business posting its highest-ever half-year revenue and achieving rapid network growth with 400 locations added to its global in the first 6 months of the year. 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 course of the next year.
Adding a total area of 3,730 sqm to its footprint, all three locations are being delivered in partnership with the building owners who have chosen the IWG flexible workspace platform and have entered into a management agreement with the Regus brand.
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 are able to 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 $11k per employee.
The 6th district of Budapest, where the new 1,200 sqm Paulay 52 Regus centre is located, lies in the heart of the capital. The downtown location – with excellent public transport – is located near Andrássy Street, the high-end shopping street of Budapest, with restaurants and cafes all around. The centre is connected to the Párizsi Áruház building, one of Budapest’s most famous historical buildings.
The new Regus centre in the popular suburb of Szentendre is located next to the most frequented highway entering the capital city – with a high number of commuters from more than 10 small cities around Budapest. It will deliver an additional 1,330 m2 workspace to the total IWG footprint in Hungary.
Debrecen is the second largest city in Hungary and one of the fastest developing cities in the country, with a total population of 200,000 people. Regus Debrecen is located within the largest business park in the city, just ten minutes walking distance from the city centre with ample amenities including private offices, meeting rooms, co-working and creative spaces. The new flexible workspace will add an impressive 1,200 sqm to Regus’ portfolio in Hungary.
The building owners in all three locations 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 £50 million into its technology platform, IWG provides partners with access to all the company’s expertise as well as design and fit-out support, sales and marketing capabilities.
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 course of the next year. IWG already counts 83 percent of Fortune 500 companies among its customers.
Mark Dixon, CEO and Founder of IWG, commented: “We are establishing a stronger and much-needed footprint in Hungary with these new 3 locations. As important business hubs, Budapest, Szentendre and Debrecen are fantastic places for us to boost our expansion plans. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal. We are very pleased to work with our esteemed partners to develop the Regus brand under management agreements that will add cutting-edge workspaces to their buildings.”
