What is Coworking and How does it Affect the Commercial Real Estate Business and the Dubai Property Management Industry, in General?27 Apr 2018
Coworking can be seen expanding at a rapid rate all over America, but has it reached the Dubai property management industry yet? And why is it becoming a trend in the commercial property and rental business?
Let’s see what the buzz is about with this trending movement in the real estate industry.
What is Coworking?
Coworking is the latest trend in office spaces which has risen from virtually nothing to more than 11,000 spaces globally. It is a style of work that involves a shared workplace and independent activity.
Unlike in a typical office, those coworking are usually not employed by the same organization.
It caters to three main types of tenants.
- Small groups of three to ten
- Large groups of up to 30 persons, or even 50
While this movement has given pause to more than a few commercial real estate professionals, with the worry that this trend will leave traditional property managers and property owners out, it boasts of some benefits to the property management Dubai industry.
Benefits of Coworking to Landlords and Property Managers
With modern individuals going for coworking rather than being tenants to their own office space, it puts a strain on Dubai property management companies. Is this where the future of commercial real estate heading?
Fortunately, while sharing a workplace works for professionals working from home, independent contractors and start up businesses, there will still be a number of reasons why individuals or groups will require a property space of a certain size.
And the coworking trend can be taken advantage of by property owners and managers for some reasons.
- It provides effortless entry into different markets.
- It offers well-maintained and flexible work environments.
- It can be a venue for a gorgeous new design in office space.
- And it can outsource office management.
Moreover, some buildings may be well-suited for rental as a coworking space or for operating as one on their own.
The real estate industry is surely seeing new developments. Some may scoff at the changes but many choose to embrace it and make the most of what it offers.
Whatever you choose for your commercial property, it is best to team up with Zawaya Property who aims to optimise your buildings. Leanr about them now and what they have to offer.Visit Zawaya Property today.