Hungary has been witnessing strong growth in the number of flexible workspaces across the country over the past few years. The addition of IWG’s latest locations across Budapest comes on the heels of the business posting its rapid network growth, with 867 new locations added to its global portfolio over the course of 2023 – almost doubling the number of new locations compared to the previous year. This unprecedented demand from companies of all sizes and workers looking for hybrid working solutions means IWG will add 1,000 new locations over the course of the next year.
Adding over 3,000 m2 to its footprint, all three locations by IWG are delivered in partnership with the building owners who have chosen the IWG flexible workspace platform and have entered into a management agreement with the Regus and HQ brands.
Part of a drive to meet the sharply rising demand for top-class flexible working space in the city, Regus Infopark will be located in the 11th district of Budapest - with a high number of commuters from small cities and suburbs around the capital. This new flexible workspace will add an impressive 1,264 m2 to the portfolio in Hungary.
The new state-of-the-art HQ F99 will be located on the left of the river in the capital city, with ample amenities including private offices, meeting rooms, co-working and creative spaces. Providing facilities for businesses of all sizes, the new 1,200 m2 flexible workspace is set to open in September this year.
Reaching a total of 18 locations in the capital, IWG is also opening Regus Szépvölgyi in Budapest, a 900 m2 workspace designed to provide a working environment for limitless creativity and productivity. Opening June 2024, the new location will provide the working communities of Budapest an upscale workplace with vibrant coworking areas, modern private offices and dynamic meeting rooms.
The building owners of all locations decided to invest in the IWG platform to maximise the return on their real estate space by capitalising on the rapidly expanding demand for hybrid working. With an annual investment of around £50 million into its technology platform, IWG provides partners with access to all the company’s expertise as well as design and fit-out support, sales and marketing capabilities.
The three new prime locations will provide space for established firms, organisations and start-ups across a wide range of industries. IWG is the world’s leading provider of flexible workspace – with approximately 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, 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 is on track to add around 1,000 over the course of the next year. IWG already counts 83% of Fortune 500 companies among its customers.
Mark Dixon, CEO & Founder of IWG, commented: “We are establishing a stronger and much-needed footprint in Hungary with three new locations. As an important business hub, Budapest is 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 work with our esteemed partners to develop the Regus and HQ-brands under management agreements that will add cutting-edge workspaces to their buildings.”
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.
IWG
