Hybrid working solutions provider IWG has opened four state-of-the-art flexible workspaces in the Philippines this month. These include two Regus centers: one in Nepo Centre, Angeles City, Pampanga, on May 6 and the other in Adriatico, Manila, on May 10. These launches were followed by the HQ Triumph building in Quezon City on May 14 and Spaces in PNB Makati on May 15. The new, strategically situated workspaces are part of IWG's continued global expansion after adding 867 locations worldwide in 2023.
The addition of IWG's latest locations follows the rising demand for hybrid work in the Philippines. According to PwC, 51% of Philippine respondents prefer the hybrid work model, with rising foreign investment, substantial GDP numbers, and growing affluence driving this trend.
The new locations bring IWG's presence in the Philippines to 31 centers. IWG expects this number to exceed 40 by the end of the year, doubling the number of open locations compared to last year. This extensive IWG network includes locations in key cities such as Davao, Cagayan de Oro, Iloilo, Cebu, Subic, Angeles City, Baguio, and the National Capital Region. With soon-to-be over 40 locations nationwide, IWG offers the largest network of flexible working spaces across the Philippines.
IWG's growth strategy in the Philippines, rooted in partnership with local partners and investors, has established a robust network of hybrid working spaces that enable businesses of all sizes to thrive.
These flex spaces have particularly empowered small and medium-sized enterprises (SMEs), utilizing them as launch pads to scale to regional, national, and even global levels. As a result, IWG Philippines continues to post outstanding margin growth numbers, reinforced by network development with new openings.
Driving inclusive growth
By strategically expanding beyond Manila's central business districts, IWG guarantees nationwide businesses access to premium, flexible workspaces. This facilitates economic development and cultivates a sense of empowerment among businesses.
Furthermore, with an annual investment of around USD64 million in its technology platform, IWG provides partners access to all the company's expertise and design and fit-out support. This model has enabled IWG Philippines to be one of the company's best-performing markets globally.
As the trend towards hybrid working accelerates, the potential for further growth is exponential, with an estimated 1.2 billion white-collar workers globally and a total addressable market of more than $2 trillion. With businesses requiring less traditional office space, enterprises will gradually pivot from conventional office occupancy in favor of flexible workspaces.
Last year, IWG welcomed over 800 new partner locations and now counts 83% of Fortune 500 companies among its customer base. Featuring over 4,000 locations in over 120 countries, IWG provides members access to all its locations and business services via the IWG app.
Lars Wittig, senior vice president of APAC NORTH, IWG, commented, "We are pleased to announce the opening of these four new locations in the Philippines this month. We see immense potential in the country's hybrid work landscape. As essential business hubs in the region, these latest openings are aimed at strengthening our expansion plans while leveling up the quality of the nation's infrastructure to drive its economy into the future.
These new centers are a testament to companies realizing that flexible working enables employee productivity and improves sustainability. It also increases scalability, allowing businesses to grow faster while exerting greater control over costs."
IWG's multi-brand expansion strategy is designed to appeal to every type of business and entrepreneur. IWG creates personal, financial, and strategic value for businesses of every size, from some of the most exciting companies and well-known organizations to individuals and the next generation of industry leaders. They all harness the power of flexible working to increase their productivity, efficiency, agility, and market proximity.
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