Flexibility on offer in serviced offices

Serviced offices provide a diversity of choice for tenants seeking flexible space.

Different concept

Workyos has an unparalleled network of offices combined with co-working and meeting spaces for companies to use. “Such space is a creative working environment with a unique entrepreneurial spirit,” he added. “Our dynamic workspaces help you think, create and collaborate, while our team makes sure you feel welcome.”

Similarly, we also combines the benefits of serviced offices and co-working spaces to create a flexible shared office space ranging from fully-furnished private office suites to hotdesks, which are available for short- or long-term lease.

Workyos Business Center is a premium smart serviced co-office center, offering flexible space of 2,000 sq m on the 12th floor of the office building in Ho Chi Minh City Land’s landmark mixed-use development. The center now hosts more than 30 companies after commencing operations. “Workyos is able to meet the supplemental space requirements of existing building tenants as well as help incubate new growth businesses before they take up permanent and possibly longer leases at office towers,”

One of the greatest attractions of CEO Suite is its ability to customize services to meet client requirements.  Chief Operating Officer, pointed out that co-working space is perceived by most clients as a work environment that has a lot more open space shared by individuals from various businesses, while serviced offices are an option that allows more privacy and has a lot more private office space. She added there is also a price differential between co-working space and serviced offices, with the former generally bearing a lower price tag and less services.

In the very early stages of the flexible space market in Vietnam, the majority of co-working spaces operate as a working coffee shop or shared workspace without private rooms, with customers being individuals and startups and popular co-working operators including Toong, Dreamplex, Circo, Workyos, and UP. “Serviced offices feature an office-intensive layout that provides a more private and professional setting than co-working space,” he added. “However, co-working space now features more private rooms while serviced offices are gradually moving towards more common work spaces to harmonize common space and private rooms.”

The modern workplace

Together with co-working spaces, serviced offices are the main type of flexible space now available. Vietnam’s flexible space market is still in its early stages but is in line with the flexible space boom in Asia-Pacific that began in Singapore in 2016 and supply has soared since 2017, according to JLL.

Flexible space represents a variety of work spaces used by occupiers to increase their flexibility through short to medium-term leases, in order to reduce occupancy costs as well as enhance collaboration by moving away from the traditional concept of a cubicle-dweller work space. It also provides new services and experiences compared to traditional offices and has attracted startups, small and medium-sized enterprises (SMEs), as well as multinational companies from a diverse mix of industries such as business consultancy, investment, pharmaceuticals, fast-moving consumer goods, and e-commerce and technology.

In general, flexible space is often seen as the answer to changing work patterns that place emphasis on innovation and collaboration. The JLL report also noted that it offers a cheaper alternative and more flexible space options for companies compared to traditional concepts, because of reduced costs from sharing fit-out expenses and better use of facilities and amenities.

In traditional offices, tenants need to sign a lease for at least two or three years with space locked in. They also need to fit out that space and engage their own office manager, cleaner, and receptionist. A flexible space, by contrast, provides flexibility in lease terms, from one month onwards, with all services included.

 

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