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September 23, 2011

Flexible office space firm expanding into emerging markets

Filed under: News,Office Space — Tags: , , — Office Space @ 6:00 am

One UK company providing flexible office space is expanding its efforts into reaching emerging markets worldwide.

Office space supplier Regus has committed to branching out to new emerging marketplaces such as the Ivory Coast and Croatia, according to Mark Dixon, the firm’s chief executive.  Determined to be first on the scene, Regus is running through a list of nations in order to achieve its expansion goals, added Mr Dixon.

With the two new openings abroad, Regus now has a total of 90 foreign countries within its portfolio of office space to let around the globe.  Over the coming three years, an additional 800 business centres will be opened by Regus, with the majority of them being joint ventures with local property owners, according to the company’s chief executive.

Kuwait and Slovenia are to be the locations of the next two centres, and the group is planning to move into 30 new countries, such as Uruguay, Madagascar, and Nepal.  The office accommodation firm – whose clients include such giants as Accenture, Bloomberg, GlaxoSmithKline, GE, Nokia, Starbucks, and Google, has had its ups and downs over the last two years, with a £6.1 million loss in 2010 and then a £13 million pre-tax profit in the first half of 2011.

Despite the roller-coaster of the past two years, Mr Dixon was confident that Regus has a recession-proof business model.  The chief executive pointed to record high occupancy figures of 85 per cent in support of his assertion.

Mobile work platform demand is set to increase at a rapid rate, according to Regus.  These increased levels of demand will lead to a revolution in workplace accommodations, Mr Dixon said, and the assertion is driving the company’s aggressive expansion efforts.

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