As the growth of e-commerce has had dramatic effects on the commercial retail real estate industry, with implications on the offices sector. Similarly, the rise of coworking spaces as the newest trend has already had -and will continue to have- drastic effects on the offices real estate sector internationally and especially in Egypt in the coming years.
According to Deskmag’s projections, the flexible workspace real estate industry has been thriving in the last couple of years, with 1.7 people utilizing approximately 19 thousand coworking spaces worldwide by the end of 2018.
This trend does not only depend on freelancers or SMEs and start-ups, but large corporations like Facebook have gotten in on the trend as well; seeing it as an opportunity to encourage creativity in the workspaces, test new markets and ideas, form partnership initiatives with grassroot startups, all while increasing organizational efficiency and reducing operational costs as well as large initial investment costs associated with setting up headquarters.
The coworking spaces phenomenon can be an opportunity for both developers and investors to capitalize on in terms of an evident market gap and an increasing demand in Egypt.
For more details on coworking spaces and how to develop or invest into the concept contact our research and development advisors at B2B.