IWG to Open 13 New Co-Working Locations Across Canada
International Workplace Group plans to open 13 new co-working locations across Canada, according to multiple reports.
The new locations will start up in such centres as the Vancouver-area suburbs of Burnaby and Surrey, Winnipeg; the Ontario locales of London, Mississauga, Woodbridge and Markham, Montreal and Halifax. IWG operates under several brands, including Regus, HQ and Spaces, which will be used at the new Canadian locations.
Wayne Berger, the Zug, Switzerland-based company’s CEO for Canada and Latin America, told CBC that co-working space demand is being driven by employees’ desire for hybrid work options and the ‘great lease resignation’ in Canada’s office real estate market. According to Berger, only 10% of employees wish to work at home full-time.
Berger predicted that the growth of hybrid work will rejuvenate the office sector nationally as investors grapple with high vacancy in major markets
Colliers reported that Vancouver’s downtown office vacancy is near a two-decade high, and Avison Young says that Ottawa’s downtown office market may shrink.
Photo: William Barton / Shutterstock.com