Average Size Of Deals In Co-working Segment Going Up: JLL

New Delhi: The average size of deals in co-working segment of real estate sector increased from 37,000 sq ft in 2017 to 52,000 sq ft in 2018. It further increased to 97,000 sq ft in the first half of 2019, according to property consultant JLL.

The property consultant has estimated that there are about 325 co-working operators in the top seven cities of the country. Internationally, the changing nature of workplaces and human experiences have become core to the office sector. The shift in outlook of the youth and millennials to ‘sharing’ in place of ‘owning’ has made the co-living concept popular.

“Investors and occupiers are looking at fast growing flex spaces segment in the country. With rising demand, all these new segments of development have added value to the overall investment potential,” said Ramesh Nair, CEO & Country Head - India, JLL.

The alternative segments of real estate industry like student housing, co-living and education real estate are growing fast and investors are keen on these segments, he added.

“Operators within these segments now offer multiple formats to occupiers. These range from entire buildings dedicated to co-working spaces to built-to-suit co-working offices within the conventional workplaces. With the benefits of cost reduction and shared amenities, the segment provides a tremendous business potential to all – developers and occupiers,” he added.