December 21, 2024 – International Workplace Group, the world’s largest provider of hybrid working solutions with brands including Spaces and Regus, is opening a state-of-the-art flexible workspace in Mysuru, Karnataka. As the adoption of hybrid working rapidly accelerates across Karnataka, the number of enquiries for space in International Workplace Group locations has risen sharply and this new opening helps meet rising demand.
The addition of International Workplace Group’s latest location in Mysuru comes on the heels of the business posting its highest-ever revenue, cashflow and earnings growth in its history and achieving rapid network growth, signing 465 new locations in the first half of 2024 alone.
Situated near the exit of Bangalore-Mysore Highway, Bannimantap is developing residential and commercial area with schools, markets, and amenities that make it a thriving part of Mysore city. Its convenient location and cultural importance make it a vital landmark in Mysore’s rich heritage. This new location is part of a drive by International Workplace Group to meet the sharply rising demand for top class flexible working spaces to one of Karnataka’s fastest growing cities. By bringing a high-quality office space to Mysuru, International Workplace Group 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 1678 sqcm center will provide space for established firms and start-ups across a range of industries including manufacturing, biotechnology, IT services, education, textiles, food processing, and hospitality companies to tailor their space entirely to their requirements. The new Regus location will include facilities including private offices, meeting rooms, co-working and creative spaces.
Balaji Pothraj, Managing Director, Pothraj Group, said “We are excited to bring Regus to Mysuru, offering businesses a workspace solution that meets global standards of excellence. This project underscores our dedication to enhancing the city’s infrastructure and fostering a professional, environment for businesses to grow and succeed. Looking ahead, we are exploring opportunities to expand further across Karnataka and India, with plans for Regus-managed offices in Hubballi, Mangaluru, and North Bengaluru. Our goal is to strengthen Regus’s presence in tier 2 and tier 3 cities, addressing the rising demand for premium office spaces in these regions and supporting the growth of local economies.”
Speaking about the new location, Harsh Lambah, Country Manager – India and Vice President –Sales, IWG, said “We are excited to expand our presence in Karnataka with the launch of our new center in Mysuru, in partnership with the Pothraj Group. Mysuru, often referred to as the cultural capital of Karnataka, is celebrated for its rich heritage, royal legacy, and dynamic business environment, marks a significant milestone as the third city in the region where IWG has introduced Regus. With its excellent connectivity to key commercial hubs like Bengaluru and Mangaluru, Mysuru serves as a vital gateway to Karnataka’s flourishing IT and industrial sectors, fostering growth and innovation across industries. The new center will offer a range of flexible workspace solutions, including customizable office spaces and suites, available on both short- and long-term contracts to cater to diverse client needs. Our continued expansion highlights IWG’s commitment to empowering businesses across the region with innovative, flexible work solutions.”
With explosive market growth as companies of all sizes adopt hybrid working for the long-term, it is predicted that 30% of all commercial real estate will be flexible workspace by 2030. With International Workplace Group, partners can capitalise on this fast-growing sector, while being supported by International Workplace Group’s unparalleled experience. Hybrid working offers companies a significantly lower cost base with an average saving of £9,000 per employee[i].
International Workplace Group is the world’s leading provider of flexible workspace – featuring 4,000 locations in more than 120 countries with members able to access all the locations and business services via the International Workplace Group 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 £1.57 trillion. Conventional office occupancy will continue to fall as businesses require less traditional space and turn to flexible workspace instead. In 2023, International Workplace Group welcomed over 800 new partner locations and counts 83 per cent of Fortune 500 companies among its customer base.