Demand for flexible working spaces high amid COVID-19

There has been a surge in demand for flexible working spaces in the Philippines this month amid the spread of the coronavirus disease 2019 (COVID-19), the International Workplace Group (IWG) said Wednesday.

IWG country manager for the Philippines Lars Wittig said the firm has registered record key performance indicators (KPIs) in the seven working days for the month of March.

"The first seven (working) days, we have more inquiries than the three-month average, we have more sales meetings," he told GMA News Online on the sidelines of Lamudi's The Outlook roundtable Wednesday.

"Some people still show up for sales and you have noticed that even traffic has eased up a bit, so it's pretty much business as usual and it is converting into more deals than three months' average," he elaborated.

Also known as a shared office space, a flexible working space is equipped with basic equipment that allows individuals to have a physical office for a specified amount of time at a pre-arranged fee.

The surge in demand comes even as the Philippines reported a significant increase in the number of confirmed cases of the COVID-19.

"The number of cases this morning according to DOH is 33, and we don't see any change in our demand still," Wittig said.

The Philippines' first confirmed case was recorded in February, a 38-year old Chinese woman who has since been discharged after testing negative.

The Philippines has so far recorded a total of 33 confirmed COVID-19 cases, with a public health emergency already raised.

The first three months of the year, Wittig said, have been positive for the company even with risks such as the earthquake in Davao, the unrest of the Taal Volcano, and the COVID-19.

"We are experiencing much-increased demand, significant net gains, and occupancy. Tenants are renewing, staying with us longer than ever and to top it off, we have signed a franchise deal in Mindanao for an additional eight locations," he elaborated.

Moving forward, Wittig said the company is set to expand its presence in the Philippines through the entry of its HQ brand.

IWG, formerly Regus, is a multinational provider of serviced offices, co-working spaces, business lounges, virtual offices, meeting rooms, and video teleconference services.

Its HQ brand caters to more segments given its lower price point.

"It enables us to get into tier 2 cities sooner rather than later because the capital investment and the price point is lower, so it's a very good entry-level into tier 2 cities that otherwise would have to wait," said Wittig. —LDF, GMA News