IWG, the largest and fastest growing flex and office space provider, with brands includingSpaces, Regus, Signature, and HQ, has announced plans to rapidly scale up its network of locations in the Middle East and North Africa (MENA) to meet the growing demand for innovative hybrid working solutions in the region.
Having signed 68 new locations to its Middle East network in 2023, IWG is solidifying its position as a leader in the flexible workspace industry by targeting over 500 new locations across the MENA region in the next five years. Currently with a network of more than 140 locations in the region’s dynamic business landscape, IWG will bring its cutting-edge workspaces into the heart of local communities as well as central business districts in its core markets of Egypt, Saudi Arabia and UAE, and across other locations in Algeria, Bahrain, Djibouti, Iraq, Israel, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, and Tunisia.
IWG’s recent survey of CEOs, in which more than 75% said they expect to still be operating in a hybrid model five years from now, corroborates new research by Stanford University and other leading institutes that hybrid working is here to stay in the long term. An IWG poll also found that 88% of employees considered hybrid working to be the leading benefit they would expect in a new role.
Mark Dixon, CEO & Founder of IWG, commented: “The MENA region, well-known for its innovation and economic vitality, continues to be a pivotal growth area for IWG. Our expansive flexible workspace portfolio caters to the unique needs of businesses, offering a distinct brand for every type of building and customer and across diverse locations. As businesses embrace hybrid working for the long term, IWG’s solutions will enable our growing pipeline of property investors to maximise their returns and benefit from the partnership.”
Marc Descrozaille, Regional CEO of IWG in the Middle East and Africa, said: “IWG’s plans to expand in the region comes in the wake of a surge in demand for hybrid working solutions both in MENA and globally. Companies of all sizes are seeking well-designed, creative and productive working environments for their people and the scale and reach of our network is a key competitive differentiator. Over the course of 2024 and beyond, we look forward to welcoming more building owners and property investors to IWG’s rapidly growing platform.”
The flexible workspace sector is projected to grow by 600% globally by 2030, and as businesses continue to embrace hybrid working for the long term, underpinned by the emergence of new technologies to help support it, IWG’s expanded network ambitions offer strategic advantage for property owners seeking to capitalise on this trend. Worldwide, IWG added approaching 900 new partnership locations in 2023, a sizeable proportion of which have been in the suburbs, smaller towns and cities which are seeing a strong demand for hybrid working solutions.
Becoming an IWG partner or franchisee provides access to a wealth of expertise in flexible workspace solutions. Partners gain access to IWG’s platform to maximise the return on their real estate space by capitalising on the rapidly expanding demand for hybrid working. With an annual investment of around GBP50m into its technology platform, IWG provides partners with access to all the company’s expertise as well as design and fit-out support and sales and marketing capabilities.
As hybrid working continues to be the megatrend of the future of work, IWG’s trends forecast for 2024 reveals that open-plan floors are being replaced by higher quality hubs designed for collaboration, creativity and socialising to allow people to come together effectively to interact and exchange ideas.
IWG, which operates flexible offices in 4,000 locations across 120 countries, is working with landlords and developers in the MENA to transform conventional spaces into dynamic and thriving work environments for workers, while generating substantial and sustainable revenue streams for its partners.