Flexible space has been emerging throughout Vietnam in recent years, this type of work place is categorised into three main models, including:
- Serviced office: workplace having more than 80% of seats in private rooms
- Hybrid model/flexible workplace: workplace having more than 20% of seats in shared space
- Co-working space: workplace having more than 80% of seats in shared space.
Advantages of flexible space
Flexible space appeals not only to the younger generation’s love of working in an open, well-designed space and an active workplace environment, but it also offers reduced costs in sharing fit-out expenses and making better use of resources. Flexible space offers cheaper prices, smaller and more flexible spaces for young companies compared to traditional office leasing.
Flexible work spaces are expanding rapidly in Vietnam
The flexible space sector in Southeast Asia is expanding rapidly in line with growth in Asia Pacific. In Vietnam, flexible work space has taken up 13.4% of occupied office space, over 70,000 sqm as of 1Q2018 with about 25 high profile operators today.
From 2014 to 2017, flexible space stock across Vietnam recorded a growth of 108%. What initially began as a platform for freelancers and startups, flexible space providers are now tailoring their offering to accommodate corporate users. These corporate users are experimenting with co-working with pilot schemes. Looking ahead, JLL can expect convergence to continue growing, with serviced office operators developing co-working brands and co-working brands targeting the clients of serviced operators in the market.