FEATURING convenient leasing and shared resources, flexible offices have been gaining traction in recent years, as the rent for quality office space continues to surge and small- and micro-sized enterprises are booming, the Shenzhen Special Zone Daily reported yesterday.

According to statistics, the supply of co-working spaces in Shenzhen increased by more than 800,000 square meters from 2015 to 2017. In 2017, the number of transactions involving 15 or more office cubicles accounted for 48 percent of the total flexible office transactions, an increase of 50 percent year on year.

A flexible office has become a new type of asset and a favorable option for enterprises, said industry insiders. Shenzhen, a startup hub known for mass entrepreneurship and mass innovation, is embracing growth in the co-working space market.

“Most of our employees have to go out and negotiate business deals, so we don’t need a large office,” said an entrepreneurial team leader, whose company recently settled at Shenzhen Software Industry Base in Nanshan District.

“A co-working space suits us very well. A cubicle costs 1,500 yuan (US$236.94) per month, including desks and chairs, network and utility bills. We can also use the meeting room and the lounge area. It’s convenient and cost-reducing,” he added.

“The shared office space market is not lacking in demand, but supply,” said Ai Tiecheng, general manager of the China division of WeWork, a global co-working space company.

Last month, WeWork announced that it would enter the Shenzhen market in the second half of the year, and that Shenzhen would be the pivotal city in its strategic layout for China.

According to a survey, 40 percent of clients are willing to choose a more efficient and flexible work space in downtown areas in Shenzhen.

As the demand for flexible office space increases, co-working spaces will maintain a growth rate of 30 percent per year. And the market in Shenzhen will expand further this year, said Luo Jinliang, a business director from the real estate services firm, Cushman & Wakefield.

(Zhang Yu)