International Workplace Group opens new spaces centre in Bucharest amid rising demand for hybrid working solutions

• Vastint Business Garden is an impressive Spaces workspace, fully equipped with co-working spaces, private offices, meeting rooms, and creative spaces.
• The new Spaces location is part of the effort to provide top-class facilities in a wide variety of locations as hybrid working becomes a reality for more employees.
• This opening follows a partnership agreement with the building owner, who has invested in the International Workplace Group platform to create a branded flexible workspace in their building.
• The location comes on the heels of International Workplace Group signing 465 new locations globally in the first half of 2024, and posting record revenue, cashflow, and earnings growth.

International Workplace Group, the world’s largest provider of hybrid working solutions with brands such as Spaces and Regus, is opening a state-of-the-art flexible workspace in Bucharest, Romania. Located in the Vastint Business Garden building, this new location is part of International Workplace Group’s drive to meet the sharply rising demand for high-quality workspace in the area.

The new Spaces centre is situated in a renowned office complex that offers a variety of amenities, including restaurants, fitness centres, and shops. The office complex is within walking distance of Gara de Nord and the Grozăvești (M1 line) and Basarab (M3 line) metro stations, providing quick access to central areas such as Piața Unirii and Piața Victoriei. The A-class building offers space for established companies and start-ups across a range of sectors, including technology, finance, and business services. The new Spaces location, covering a total of 1,900 sqm, will feature private offices, meeting rooms, co-working spaces, and creative spaces. Additionally, International Workplace Group’s Design Your Own Office service allows companies to fully customise their space to meet their specific needs.

As the adoption of hybrid working rapidly accelerates across Romania, the number of inquiries for space in International Workplace Group locations has risen sharply, and this new opening helps to meet the growing demand.

The addition of International Workplace Group’s latest location in Bucharest follows the company’s strongest-ever revenue, cashflow, and compounded annual growth rate in its history, driven by its rapid network expansion. In the first half of 2024 alone, the company added 465 new locations worldwide.

The building owners decided to invest in the International Workplace Group platform to maximise the return on their real estate by capitalising on the rapidly growing demand for hybrid working. With an annual investment of approximately €60 million in its technology platform, International Workplace Group provides partners with access to its full suite of expertise, including design, fit-out, sales, and marketing support.

As the market continues to grow explosively, with businesses of all sizes adopting hybrid working for the long term, it is projected that 30% of all commercial real estate will be flexible workspace by 2030. Through International Workplace Group, partners can capitalise on this fast-growing sector, benefiting from the company’s unmatched expertise. Hybrid working offers companies significant cost savings, with an average saving of €10,750 per employee .

International Workplace Group is the world’s leading provider of flexible workspace, with more than 4,000 locations in more than 120 countries, and members have access to all locations and business services via the International Workplace Group app.

With the ongoing shift towards hybrid working, the potential for further growth is enormous, with an estimated 1.2 billion office workers globally and a total addressable market of over €1.88 trillion. Traditional office occupancy will continue to decline as businesses require less conventional space and turn to flexible workspace solutions. In 2023, International Workplace Group added over 800 new partner locations and counts 83% of Fortune 500 companies among its clients.

Mark Dixon, CEO & Founder of International Workplace Group PLC, commented: “We are establishing a stronger and much-needed footprint in the Bucharest region with this latest opening. As an important business hub, Bucharest is a fantastic place for us to boost our expansion plans. The demand for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal. We are very pleased to partner with Vastint Romania to develop the Spaces brand under a management agreement that will add a cutting-edge workspace to their building.”

“Our new location in Bucharest comes at a time when more and more companies are discovering that flexible working enhances employee well-being and satisfaction while also helping the environment. Our workspace model is also proven to increase productivity and allows businesses to scale up or down at significantly reduced costs.”

International Workplace Group’s multi-brand expansion strategy is designed to appeal to every type of business and entrepreneur. International Workplace Group creates personal, financial, and strategic value for businesses of every size, from some of the world’s most exciting companies and well-known organisations to individuals and the next generation of industry leaders. All of them harness the power of flexible working to increase their productivity, efficiency, agility, and market proximity.

About International Workplace Group PLC

International Workplace Group is the global leader in hybrid work solutions and workspace brands. We create personal, financial, and strategic value for businesses of every size. From some of the most exciting companies and well-known organizations on the planet, to individuals and the next generation of industry leaders. All of them harness the power of International Workplace Group’s hybrid working platform to increase their productivity, efficiency, agility, and market proximity.