As more companies shift to more flexible working options for their employees, coworking offices in the Philippines will undoubtedly grow in number and demand. Gone are the days when corporate workers brave the everyday commute to clock in for that daily office grind. The hybrid work model is the future of the workplace, and coworking spaces are a great place to implement a flexible and cost-efficient working environment for people.
The beauty of coworking spaces is that they are suitable for almost every worker because of their functionality. Freelancers, remote workers, digital nomads, startups, small businesses, and entrepreneurs are among the usual tenants of these shared office spaces. Before the pandemic, college and high school students were allowed to utilize these spaces to conduct their research, hold focus group discussions or draft their thesis.
Working in the comfort of your home is convenient, but not everyone has the luxury of space and a stable internet connection to work comfortably at home. That’s why coworking spaces offer conducive office spaces and amenities at cheaper costs to help people focus on their work and grow their businesses.
The Rise of Coworking
According to a report by The Business Research Company, the global coworking space market size is expected to go up to $16.17 billion in 2022 from $13.60 billion in 2021 at a compound annual growth rate of 18.9%. The rise in global coworking space is primarily due to companies resuming operations and adapting to the new normal. By 2026, the coworking spaces market is expected to reach $30.36 billion, the report noted.
From a local perspective, tech-savvy millennials drive the demand for shared office spaces. Coworking spaces provide an alternative work environment and serve as an arena where people can connect and network. According to JLL Philippines, 30% of commercial real estate could be coworking spaces by 2030, owing to the millennial generation, startups, and multinational corporations. It’s no surprise that larger organizations also take advantage of coworking spaces, especially if they are tapping a new market.
There are many reasons why coworking space trends have become popular. Cost is one primary reason companies opt for coworking spaces instead of the traditional office spaces. With these shared office spaces, you get the functionality of a virtual office without the overhead expenses and investments. Coworking spaces also have more flexible leasing terms than traditional office spaces, so tenants don’t need to worry about lock-in contracts.
Thanks to continuous advancements in technology and the internet, working outside the confines of a traditional office is made possible. Among many things that shaped our view in terms of the corporate workforce during the pandemic is that people can do their jobs out of the office without compromising their quality.
Emerging Trends in Coworking Spaces
With the increasing demand for flexible workspace in the country, competition among these spaces has also become more challenging. People continuously want a workspace where they can express their creativity and work without the hassle and distractions. Aside from accessibility and basic amenities, here are some emerging coworking trends to watch out for in the upcoming years:
Health-Focused Design
Creativity is proving to change the traditional concept of coworking spaces progressively. Many shared office spaces offer office space and meeting room rentals with modern and chic interiors to foster more productivity and collaboration that combines comfort, functionality, and style. Some of these include bean bags, standing desks, and colorful open spaces for people to connect and network. The pandemic has forever changed the organization of office space, so coworking spaces are now leaning towards a socially distanced workplace to prioritize the health and safety of its tenants. As coworking in the Philippines steadily rises, the health and safety of the people will always be paramount. Many shared office spaces now have revamped their areas with a more health-focused design to practice social distancing and implementing health measures that are pandemic-proof.
Events and Activities
Coworking spaces are a suitable place to hold events and build a community, especially now that lockdown measures are relaxing. Some coworking spaces offer activities like socially distanced yoga classes, talks, and lunch together so people within the coworking space can mingle and collaborate despite being meters apart. Community gatherings are great ways to give employees some time to relax from their heavy workload and could even be a way to connect to potential clients or new hires. Coworking spaces are also a great avenue for employees who do not have enough space or capacity in their homes to join virtual team activities like virtual trivia nights or happy hours.
Functional Amenities
Aside from the primary office amenities that come with the rental package, coworking spaces are now attracting people with added features such as game rooms, gyms, sleeping quarters, and even meditation rooms to prevent burnout. Coworking space pantries are also becoming more modern, with added amenities such as snack bars and coffee stations now being offered as part of coworking space rental packages.
Online Availability
The beauty of coworking spaces is that you don’t need an ocular to see whether the office space can suit your team or not. Coworking spaces have websites and social media that allow you to view photos via gallery page, as well as see reviews from other tenants. It’s also easier to find an available slot because you can book office space and reserve your slot online. With M Spaces, booking an available office space is just a few clicks away.
Coworking Spaces in the Philippines
A central challenge in working from home is distraction. Coworking spaces provide workers with a safe and conducive area to be more productive and function at their best. Shared office spaces are also conveniently located along with city centers and business districts, so getting there won’t be an issue. You can spot coworking spaces in Metro Manila along Alabang, Makati, Ortigas, Taguig and Quezon City.
M Spaces is the perfect place for freelancers, remote workers, and business owners. Located in Ortigas’ central business district, M Spaces offers private office spaces and meeting rooms that can cater to your professional needs no matter how small or big your team is. M Spaces’ fully serviced offices provide high-speed Wi-Fi and LAN connectivity and free use of printers, scanners, and photocopiers.
M Spaces’ office space also has overhead shelves for extra space. You also have 12 hours of meeting room access and access to the pantry, where you help yourself to free coffee. Meeting and conference rooms can also be rented for as low as Php500 per hour, and it’s equipped with soundproof walls, a whiteboard, and a TV monitor.
Need a coworking space ASAP? Check out our website to learn about our offered rates and services. For inquiries, you can visit our social media pages, or you can drop us a message at info@mspacesph.com
