As we have been saying in a number of reports and whitepapers, co-working is one of the most significant trends right now in corporate real estate.
This is a truly global trend in fact, and is most popular in Asia, according to our research.
And now Forbes is reporting that Sydney, Australia-based Servcorp is investing $30 million in co-working.
According to the article: “The $30 million, which represents re-investment of more than half of Servcorp’s total profits last year, will allocate $20 million to add full co-working facilities in over 50 Servcorp locations around the world including the United States, China, Australia, Japan and the United Kingdom.”
“The modern design enhancements, which include more casual meeting space and lounge areas, will make Servcorp floors more appealing to a broader audience. In addition, $10 million is being allocated to improving the customer experience through technology enhancements, which will be deployed in mid-2018.”
Servcorp will face competition from a number of players, including WeWork, which was featured this fall in a Forbes cover story, which again showcased the massive trend in the workplace.