Lukasz Skowronski, Director of Global Development, who manages the Verny Capital Group's office real estate portfolio (Talan Towers business center is Company's flagship project) notes that the demand for service offices has increased approximately twice during the pandemic. This is mainly due to those companies that currently have expiring lease agreements, which means that they can change offices without penalties for premature termination of contractual relations with the lessor.
“Today, people want to use offices as efficiently as possible. No loss of space, no extra space to pay for. Pay as you use. Perfect for this time,” - he says.
Talan Towers Executive Hub offices' rent ranges from $500 to $700 per workplace per month (depending on the office configuration). However, according to Skowronski, there are companies that managed to reduce office space by half when moving from traditional offices to the Executive Hub.
The first floor of the Executive Hub service offices, launched in September 2019, was occupied within two months by tenants of traditional offices in Talan Towers, i.e. representatives of the oil and gas industry, international banks, mining companies, consulting firms, and residents of the AIFC. They began to rent small flexible offices for short periods for temporary projects, such as auditors.
After assessing the demand, Global Development launched the second floor of service offices in March 2020, and the third floor in October. Currently, the residents of service offices are represented not only by large international companies, but also small and medium – sized businesses, and individual entrepreneurs – those for whom a prestigious office is a matter of image. “We noticed that small and medium – sized businesses especially need this flexibility, and we offered it,” - says Lukasz Skowronski.
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Lukasz Skowronski: Demand for service offices has increased about two times during the pandemic