Latest news with #co-working
Yahoo
03-08-2025
- Business
- Yahoo
$5,892 cash boost for Aussies revealed if businesses adopt new work trend: 'Rapidly expanding'
A new trend has emerged in Australia amid the debate of whether staff should return to the office or work from home (WFH). Big-name firms like Coles, Woolworths, and Amazon have ordered workers to come back to their headquarters dotted around the country, with some companies requiring workers to be in five days a week. While that might work for larger companies with established locations, smaller players are navigating a post-pandemic world where commercial rent is high and staff appetite for coming into an office is mixed. That's why co-working spaces have established a foothold in the office space landscape. Damien Sheehan, country head of International Workplace Group (IWG) in Australia, told Yahoo Finance this trend has really been gathering pace in the last few years. RELATED Troubling workplace trend exposed as Aussie unable to find a job for a year Centrelink pension warning for 4.3 million Aussies facing super nightmare Aussie couple reveal 'cheaper' $400,000 housing solution "Corporations take 10-year leases with 3-4 per cent indexation, and then suddenly shareholders are saying, 'Well, if staff aren't coming in and productivity is still up, why do we need all this office space?'" he said. Co-working spaces have been around in Australia for decades, but many businesses across the country have been forced to confront their workspace model with a hybrid model are forking out huge sums of money for big office space that could be empty two to four days a week. Co-working spaces alleviate that cash crunch as you're sharing a floor or desk with other businesses who are trying to keep costs low. Knight Frank and the Property Council of Australia found last year that Sydney and Melbourne companies that adopted flexible workspace strategies, including co-working models, reported real estate cost reductions of up to 50 per cent. This could collectively save these businesses up to $10.5 billion by 2045. Shifting offices can help workers save thousands Sheehan said this co-working trend is "expanding rapidly" for businesses, but employees stand to benefit from this shift as well. He said businesses in IWG's network have been downsizing from their traditional office to smaller, more cost-effective spaces. But they've also set up several hubs in areas where they know many workers live to help them cut down on their commutes. He gave an example of having a central office positioned in Sydney's CBD, and then having smaller hubs that only required a few desks in Western Sydney and Macquarie Park. They could be spread interstate or in regional areas as well if there's enough staff to support that move. "Headquarters are certainly not dead," he told Yahoo Finance. "We're just seeing headquarters really rethink what they do with their own space and how they tailor that to foster culture, team building, connection, and ideation, and not lose that productivity and innovation from their biggest asset, which is their people." IWG found workers could save $5,892 per year by switching to a local co-working space two to three days per week, compared to commuting into a city centre office every day. That reduction in commuting is also expected to help workers explore side hustles, sort out life admin, exercise, pick up their kids from school, or do their grocery shopping. Co-working spaces do have one major downside William Rollo has been in a co-working office for several years and told Yahoo Finance it's a great middle ground. "It's really good," he said. "There are benefits from working from home as well as working with the team in the city." It only takes the the senior UI designer at PXP Studios 20 minutes to cycle to his office in Pyrmont. He said his co-working space has a cafe on his floor and another one on the entry level, which helps him cut down on running to the shops on his lunch break. However, he highlighted one issue of sharing a workspace with other businesses. "It's a little bit annoying when there are people on the on the phone next to me, because it's all very open-plan," he told Yahoo Finance. "Noise does travel pretty far and that's why I just wear noise-canceling headphones most of the time when I'm when I'm in the office." Traditional offices will have space for every worker and department, and make sure teams aren't distracting each other with their work. However, co-working spaces might see you sit next to someone from a completely different company, who might not care how their work impacts yours. Major benefits of hybrid working revealed Hybrid working is set to increase Australia's economy by $18 billion over the next decade, and provide 42,000 extra full-time jobs. That reduced commute time to the office is expected to an 11 per cent boost in productivity, while workers reported a 67 per cent higher rate of efficiency and effectiveness in their roles, compared to those who just work from home or work from an office. The HR Institute found close to half (44 per cent) of Aussies employers have discovered better employee retention and 41 per cent highlighted enhanced wellbeing as a result of hybrid work. Sheehan told Yahoo Finance that employers who are struggling with high rent and staffing issues should examine the hybrid and co-working space model to see if it's a fit for them. "We're helping bring people into those empty buildings and creating energy that then brings little cafe operators and other service based industries to service those workers," he said, which he explained contributes to that huge lift in full-time in retrieving data Sign in to access your portfolio Error in retrieving data
Zawya
23-07-2025
- Business
- Zawya
B Hive by BurJuman Mall: Dubai's new free co-working and Chill Space for the modern remote professionals
RELATED TOPICS UAE RELATED COMPANIES BurJuman Al Ghurair Real Dubai, UAE – BurJuman Mall, part of the Saif Al Ghurair Real Estate Group, launched B Hive early 2025, a much-loved and fast-growing lifestyle that combines a co-working space for professionals, freelancers, and entrepreneurs with a chill-and-play zone designed for professionals and young adults aged 14+. Located on Level 3, B Hive reflects the mall's evolving vision to cater to Dubai's growing need for accessible, inclusive, and experience-led urban spaces. Following the successful launch of B Hub in 2024, which offered collaborative and learning engagements to the community, B Hive is the latest addition to the mall's third-floor transformation into a lifestyle-led destination. A go-to place for productivity and fun, the space hosts collaborative workdays as well as serves as a creative escape, reimagining the traditional mall environment. Since opening earlier this year, the space has attracted an average of 6,000 visitors per month, quickly becoming a favourite among students, freelancers, and young professionals. The co-working zone spans approximately 4,027 sq ft with seating for up to 90 people, offering free Wi-Fi, charging stations, and workspaces, all complimentary for members who register through the mall's official website and receive a personal QR code. Adjacent to this is the chill-and-play zone, covering around 3,194 sq ft with a capacity for 70 people, where young adults can relax, play games, create content, or simply unwind in a safe and welcoming environment. Adding to the vibrancy of B Hive is the arrival of Bo's Coffee, a coffee kiosk renowned for its handcrafted brews made from beans sourced in the Philippines. Widely appreciated by coffee enthusiasts, Bo's Coffee enhances the B Hive offering by providing a high-quality café experience that uplifts focused work, informal meetings, and social interactions, aligning seamlessly with the mall's vision of delivering lifestyle-driven, purpose-built spaces. The integration of Bo's Coffee into B Hive reinforces BurJuman Mall's commitment to creating spaces that serve practical needs as well as inspiring creativity, connection, and collaboration. B Hive represents another milestone in BurJuman Mall's mission to stay attuned to the evolving needs of its diverse visitors, blending retail, and customer interaction under one roof. About BurJuman Mall BurJuman Mall is one of Dubai's most iconic and longstanding shopping and lifestyle destinations, located in the heart of Al Mankhool, Bur Dubai. Since opening in 1991, the mall has evolved into a vibrant hub that blends heritage with modernity, offering a dynamic mix of retail, dining, and entertainment. Spanning over 75,000 SQM, the mall features more than 200 stores, anchored by leading international and regional brands including Home Box, Off/Price, Centrepoint, Max Fashion, R&B, Brands for Less, Sharaf DG, Emax and LC Waikiki. It also houses VOX Cinemas, Magic Planet, a hypermarket, and an eclectic range of culinary offerings. Key attractions like the Food Pavilion, B Hub, and B Hive serve as vibrant spaces for the customers. Centrally located with direct connectivity to Dubai Metro and major highways, BurJuman Mall enjoys a high footfall from a densely populated and diverse catchment area. Beyond retail, the development includes a business tower and residences, making it a truly integrated urban destination. As a landmark deeply rooted in the city's culture, BurJuman Mall continues to be a place where community thrives, celebrating connection, diversity, and shared experiences.
Bloomberg
09-07-2025
- Business
- Bloomberg
ICYMI: Hybrid Works Persists
IWG, formerly known as Regus, is a global provider of flexible workspace solutions. They offer a wide range of office solutions including serviced offices, co-working spaces, and virtual offices under various brands like Regus, Spaces, and Signature by Regus. IWG merged its digital assets with The Instant Group in 2022, creating a leading global marketplace for flexible workspace. Mark Dixon, the company's CEO, discusses the global commercial real estate market, specifically when it comes to flexible office space, as well as key trends related to hybrid work. Mark speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily
Arabian Business
20-05-2025
- Business
- Arabian Business
Ras Al Khaimah premium residences with co-working spaces see rising demand: Report
UAE-based property firm The Luxe Developers reports increasing demand from high-net-worth investors in Ras Al Khaimah for premium residences featuring integrated co-working spaces. The trend stems from investors and professionals seeking flexible, business-ready living environments, which is transforming the luxury real estate market in the UAE. Research from Mordor Intelligence confirms this shift, projecting the UAE co-working space market to grow by over 43 per cent by 2029. In response, luxury residential developers are incorporating business facilities within high-end properties, enabling residents to work from home whilst maintaining luxury standards. Shubam Aggarwal, Chairman and Co-owner of The Luxe Developers, said: 'Traditionally, luxury residences have been associated with leisure and exclusivity. However, with remote work and global entrepreneurship on the rise, affluent buyers are now prioritising developments that support their professional needs as much as their lifestyle aspirations. Investors and professionals are no longer looking at luxury properties solely as homes or holiday residences; they want spaces that enable them to work efficiently while enjoying an ultra-luxurious lifestyle.' The firm has launched two projects on Al Marjan Island – the sold-out Oceano development and the recently unveiled La Mazzoni project, valued at AED 2.3 billion. La Mazzoni offers fully furnished luxury residences designed for ultra-high-net-worth individuals who require professional working spaces within their residential community. 'With La Mazzoni, we have designed fully furnished luxury residences that meet the demands of a new generation of global business leaders who expect top-tier co-working facilities within their private residence community. In addition to world-class amenities, we have carefully crafted co-working spaces inspired by nature to curate an environment that blurs the boundaries between personal sanctuary and a thriving entrepreneurial ecosystem,' Aggarwal added. Ras Al Khaimah's investment boom As co-working spaces expand throughout the UAE, Ras Al Khaimah is becoming a destination where business and leisure intersect, creating opportunities for investors and entrepreneurs seeking property that accommodates both lifestyle and professional requirements. The emirate has positioned itself as an investment hub, offering high-end developments in a more exclusive environment. Market analysts report price increases of up to 60 per cent in the emirate, driven by investor confidence and planned mega-developments. Siddharta Banerji, Managing Director and Co-owner of The Luxe Developers, explained: 'The future of luxury real estate is about creating homes that are more than just a place to live; they must cater to every aspect of modern life, including business and productivity. This is why La Mazzoni offers fully equipped workspaces alongside world-class leisure amenities. Integrated co-working spaces in La Mazzoni are built to foster networks where like-minded resident entrepreneurs, venture capitalists, and creatives can cross paths. Our co-working spaces are designed to inspire ideas and future collaborations.' 'Ras Al Khaimah is no longer just a second-home destination; it is now the primary choice for modern investors seeking a lifestyle destination that offers the versatility of a personal retreat combined with a professional hub,' Banerji concluded.
Yahoo
10-05-2025
- Business
- Yahoo
Its dream of owning a downtown space collapsed. Now a business incubator has a new home.
WEST PALM BEACH — Three years after a failed effort to acquire a prominent city-owned Clematis Street building, a nonprofit business incubator is celebrating moving into new digs in a historic building on the city's main downtown avenue. 1909, a co-working space that offers classes and networking opportunities to 250 paying members, moved in April into a new spot on the third floor of the Comeau building on the 300 block of Clematis. The 9,000-square-foot office space is more than double the size of 1909's previous location on Datura Street. The seven-year-old organization, which is celebrating the move with a private party May 10, said it was a necessary step for its growing list of members and its ambitions to provide more services to support local start-up businesses. The move comes three years after 1909 thought it had struck a deal with the city to buy a much larger city-owned building across the street, the site of the former Off the Hookah nightclub. 1909 narrowly won a competitive bidding process in 2022 to buy the 30,000-square-foot site from the city for $10.5 million. It won over commissioners and the mayor by promising to create a dynamic, affordable space for budding entrepreneurs to work, congregate and thrive. But city commissioners called off the deal two months later after 1909 revealed that another company would finance most of the purchase and that 1909 would be using less than half of the space itself. The director of the city's Community Redevelopment Agency ended negotiations with the group, saying that 1909's proposal 'didn't reflect what was presented to the board.' Mayor Keith James lambasted the group for using "smoke and mirrors" to try to pull off a "bait and switch." The group countered at the time that it had no idea that a partnership with another company would be treated as a deal-breaker. In an interview, 1909 co-founder Danielle Casey said that the growing nonprofit's new private office spaces are already booked and that it is already mulling its next move after its five-year lease ends. 'We've moved 200 businesses to the city's main street,' she said. 'We're already at capacity.' 314 CLEMATIS: A colorful history of 314 Clematis: A hookah lounge, furniture store and iconic department store The incubator and its members love being in the downtown center, where plenty of the business's clients are based, she said. But for 1909 to reach its potential, it will need a larger space where members can display and sell their products. In the meantime, though, she said members are enjoying creating an 'entrepreneurial ecosystem' in their new location. 'The biggest value is honestly the community,' she said. 'It's a support group.' Sign up for our Post on West Palm Beach weekly newsletter, delivered every Thursday! Andrew Marra is a reporter at The Palm Beach Post. Reach him at amarra@ This article originally appeared on Palm Beach Post: Business incubator 1909 moves into new Clematis Street office
