Page 20 - Clean India Journal - Sept 2023 Digital Edition

Cover Story

Optimistic outlook on

infrastructure development

Exploring the top five infrastructure industry segments that

India’s facility management industry should strategically
target in the upcoming years.

Flexible workspaces that the number of work seats taken Smaller cities are flexing their

Flexibility has become pivotal up by businesses in FY23 is more shared workspace muscle too. In a
recent survey, 26% of respondents
than the FY21 and FY22 numbers
in occupier portfolio strategies. combined. with their current operations limited
Organisations now want short- to to Tier 1 cities indicated that they
long-term space solutions with the The tech-dominated cities of are willing to explore Tier 2 cities
flexibility to scale up or down on Bengaluru, Hyderabad, Pune and for their medium- to long-term
demand, providing much-needed Chennai today account for around expansion plans. This is where the
leeway for dynamic resource 70% of flex footprint across the story of workspaces will pan out
management. top seven cities; while the share most.
of the tech sector – while still
In just five years, the footprint of leading – has declined, flexibility In FY23, gross leasing of all
flexible workspaces has expanded has also become the mantra for workspaces is likely to be at 40-45
by nearly 400% to 53 million sq ft; the manufacturing, BFSI and million sq ft – 15-20% higher than
this figure is likely to double over consulting segments. In heartening predicted in early 2023. Hybrid
the next five years. The pandemic- news, Indian startups now lease work may be the new normal but
induced confusion of work-from- more seats than all sectors other working out of an office for at least
home/office has settled into a than tech; this upward trend can be a part of the week remains the
hybrid model, reflected in the fact expected to continue. norm.

SEPTEMBER 2023•Clean India Journal
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