As the adoption of hybrid working rapidly accelerates across Hungary, 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 Szentendre 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 899 new locations and opening 624 centres in 2024.
The new Regus centre in the popular suburb of Szentendre is located next to the most frequented highway entering the capital city - with a high number of commuters from more than 10 small cities around of Budapest. It will deliver more than a 1,000 m2 workspace to the total IWG footprint in Hungary.
Situated near Budapest, in a central location, surrounded by a lake, the three-storey building is part of a drive by International Workplace Group to meet the sharply rising demand for top class flexible working space in the area. The new Regus center, which opened in early March, provides space for established firms and start-ups across a range of industries with large open office spaces and customized offices.
The building owners decided to invest in the International Workplace Group platform to maximize the return on their real estate space by capitalizing on the rapidly expanding demand for hybrid working. With an annual investment of approximately €60m into its technology platform, International Workplace Group provides partners with access to all the company’s expertise as well as design and fit-out support and sales and marketing capabilities.
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 are able to capitalize 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 close to 11,000 euros per employee.
International Workplace Group is the world’s leading provider of flexible workspace – featuring more than 4,000 locations in more than 120 countries with members able to access all of 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 1.87 trillion euros. Conventional office occupancy will continue to fall as businesses require less traditional space and turn to flexible workspace instead. In 2024, International Workplace Group welcomed over 899 new partner locations and counts 83 per cent of Fortune 500 companies among its customer base.
Mark Dixon, CEO & Founder of International Workplace Group PLC, commented: “We are establishing a stronger and much-needed footprint in Hungary with this latest opening. Szentendre, a popular location near Budapest, is an important business hub and a fantastic place for us to boost our expansion plans. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal. We are very pleased to develop the Regus brand and add a cutting-edge workspace to this building.”
International Workplace Group’s multi-brand expansion strategy is designed to appeal to every type of business and entrepreneur. International Workplace Group creates personal, financial, and strategic value for businesses of every size, from some of the most exciting companies and well-known organizations 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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