Creative Destruction – Coworking

“New lifestyles prevail once we have replaced or “destroyed” the old ways of doing things.”

This is what we call Creative Destruction. On 10th September, 2016, Vikas Lakhani (Founder, InstaOffice) took the stage at the Coworking India Conference 2016 to shed more light upon how there could have never been a better time for Coworking to creatively destruct the Real estate Industry by creating value for both landlords and tenants.

Coworking India was the first event ever organised in India featuring the rise of Coworking, bringing together coworking spaces, tech hubs, incubators and business centers,  community builders, and others interested in the social workspace. It was hosted by The American Center in Delhi.

As inevitable as it has always been, the coworking space is now witnessing a striking contrast at the hands of the picture presented by old vs. new. From low employee convenience to employee engagement, from fixed locations to mobile solutions, from low business convenience to reduced property cost – the disconnect is what is driving the changing patterns.

What started out as a temporary solution to flexible, low-cost office needs is turning out to be the defining leap for the real estate industry. Year after year of increasing demand for comprehensive office solutions remains unsated/unanswered by the unimaginative commercial office spaces that market has to offer. The office space market has received a wake-up call by innovative, time-suited office solutions in the form of Coworking. Coworking is no longer just an interim office solution.

In his presentation, Vikas brought forward the fact that the office space market is a living example of creative destruction. New transformations are paving the way for the future of commercial real estate, while simultaneously doing away with the older models. The effects of this process can be felt at both ends positively – Users as well as Owners. While users get a better experience at affordable prices, property owners derive higher absorption and rental yield.

• PROPERTY OWNERS

There are a number of factors at play that are gradually, yet certainly, transforming the commercial real estate industry. A look at the global real estate trends indicates the presence of a large addressable market and unmet demand for small and flexible offices. Some estimate the size of this market to be a whopping USD 70 Billion.

Looking at the numbers and the optimism that market shows for Coworking, it wouldn’t be wrong to call it the long-awaited solution to the disconnect in the office space industry. Coworking has proven to be an amalgamation of miscellaneous monetary and ancillary gains that… Click To Tweet

Catch a glimpse of Vikas giving the presentation here.  The whole presentation is available here.

At InstaOffice, we are trying to bring a systemic change in a way commercial real estate as an economic resource is utilized, while allowing our community members to reduce their office occupancy costs and landlord partners to earn superior rental yields. We proudly host a community of happy professionals ranging from freelancers and SMBs to large scale MNCs like Yahoo and Amazon (www.instaoffice.in/members). Multiple locations allow our members much-needed mobility in today’s times. Know more at www.instaoffice.in. To get in touch with us, write to connect@instaoffice.in or give us a call at 9958563555.