IWG brings new brand HQ to India to tap growing demand for flexible workspaces - launches first two centers in Bangalore

ATK
New Delhi [India], March 14: IWG, the world's largest provider of hybrid working solutions with brands including Spaces and Regus, is proud to introduce its latest innovation in the realm of modern work environments with the launch of HQ in Bangalore. HQ represents IWG's commitment to revolutionizing the way people work, offering a dynamic and adaptable space designed to meet the evolving needs of businesses and professionals in the digital age.
HQ redefines the traditional office concept, offering a vibrant and collaborative environment. Both locations span close to 10,000 sq. ft in the heart of Bangalore and come complete with state-of-the-art co-working spaces, private offices, meeting rooms, and creative zones. HQ sets a new standard for workspace excellence, providing the ultimate platform for productivity, innovation, and growth.
Situated on Off Bannerghetta Road and Hosar Road respectively, the new locations are part of a drive by IWG to meet the sharply rising demand for top class flexible working space in Bangalore. By bringing a high-quality office space, IWG is enabling local people to experience living in a '15-minute' city, allowing workers to work close to their homes without commuting far from where they live.
The launch of HQ in Bangalore marks a significant milestone for IWG as it reaffirms its commitment to empowering businesses and individuals with innovative workspace solutions tailored to the demands of the modern workforce. With the addition of HQ, IWG further solidifies its position as a pioneer in the future of work, providing cutting-edge environments that inspire creativity, foster collaboration, and drive success. The centers in both locations will provide space for established firms and start-ups across a range of industries including IT, ITES, Telecom, Pharma, Biotech, while IWG's Design Your Own Office service allows companies to tailor their space entirely to their requirements.
Harsh Lambah, Country Manager India and Vice President - Sales, IWG, commented: "We are very excited to bring the HQ brand to India. This will help strengthen our footprint in India, starting from India's tech capital, Bangaluru. Both off Bannerghetta Road and Hosur Road are important business hubs and great locations for HQ to start operations from and expand. The demand for high-quality flexible workspaces continues to soar as hybrid working becomes the new norm. We are delighted to collaborate with Augwir Technologies Pvt Ltd and Sakeesoft PvT Ltd to develop the HQ brand under a management agreement, adding a cutting-edge workspace to their buildings."
The addition of IWG's latest location in Bangalore, India comes on the heels of the business posting record quarterly revenue and achieving rapid network growth, adding more than 850 new locations across the world over the course of 2023. IWG works closely with commercial property owners and developers to reimagine and revitalise traditional spaces into vibrant and productive work environments, while delivering enduring revenue streams for its partners. A remarkable 95 per cent of IWG's new locations involve partnerships with property owners and investors to establish innovative workspaces. Notably, HQ emerges as one of our fastest-growing brands globally, reflecting our commitment to expanding flexible workspace solutions. The openings follow a partnership agreement with the building owner, who has invested in the IWG platform to create a branded flexible workspace in their building.
With an annual investment of around £50m (USD 64m) 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.
The choice to launch HQ in Bangalore first was linked to India's IT and tech capital also being one of India's fastest growing regional locations. Southern cities like Bengaluru, Hyderabad, and Chennai have become key Global Capability Centre hubs, with Bengaluru and Hyderabad together leading the GCC leasing activity at a cumulative share of 60 per cent from 2020 to 2023. Chennai saw a 2.4X surge in 2023, while Pune and Mumbai witnessed over 1.7X growth compared to 2022, a new report by Colliers. Demand for workspaces in the city has performed strongly, with the number of enquiries for space in IWG locations continuing to increase sharply over 2023. With explosive market growth as companies of all sizes adopt hybrid working for the long-term, it is predicted that 30 per cent of all commercial real estate will be flexible workspace by 2030. Hybrid working offers companies a significantly lower cost base with an average saving of £9,000 (USD 11,000) per employee[i].
IWG is the world's leading provider of flexible workspace - featuring almost 4,000 locations in more than 120 countries with members able to access all of the locations and business services via the IWG app. As the ongoing shift towards hybrid working accelerates, the potential for further growth is exponential with an estimated 1.2 billion white collar workers globally and a total addressable market of more than USD 2 trillion (£1.57 trillion). Conventional office occupancy will continue to fall as businesses require less traditional space and turn to flexible workspace instead. In 2023, IWG welcomed hundreds of new partner locations and counts 83 per cent of Fortune 500 companies among its customer base.
IWG's multi-brand expansion strategy is designed to appeal to every type of business and entrepreneur. IWG creates personal, financial, and strategic value for businesses of every size, from some of the most exciting companies and well-known organisations on the planet, to individuals and the next generation of industry leaders. All of them harness the power of flexible working to increase their productivity, efficiency, agility, and market proximity.
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