IWG plans to invest up to €30M in Spain in 2021

IWG plans to invest up to €30M in Spain in 2021

Workspace inaugurated by IWG on Paseo de Recoletos in Madrid

IWG intends to continue increasing its portfolio in Spain in 2021 in cities such as A Coruña, Palma, Valladolid and Malaga, among others, according to EjePrime. Currently, the company has 56 flexible work centers in Spain, which amounts to about 120,000 sqm throughout the territory. The last opening of the coworking giant in Spain in 2020 was the center located at number 5 of Avenida Recoletos (Madrid) in November, which has 4,000 sqm of surface and an occupancy of 40%.

Coworking stands up to Covid-19

In Europe, the company has an occupancy of 70% and estimates that by the end of the year they will reach pre-Covid-19 levels. «The level of renovations has increased compared to March and the impact is no longer as high as in the first wave, the workers have to go back to the office, the houses do not have the technology or the space », says Phlippe Jiménez, general director of the company in Spain.

This week the company has inaugurated a flexible work center under the Spaces brand at number five on Paseo de Recoletos in Madrid. The property has 3,055 sqm of offices and capacity for 352 people.

On the company's agenda is the opening of a Regus center in Oviedo of 1,300 sqm (opening expected to happen in May). The company plans to expand in Spain with the HQ brand in secondary cities.

The company's strategic plan includes as well the opening of two centers in Barcelona this year. In September the company will inaugurate the Mas de Roda center under the Spaces brand. The property has 4,000 sqm and will require an investment of two million euros. In addition, the company will open the Via Augusta 123 center with a similar area, and that will require an investment of four million euros.

With 3,982 flexible workspaces around the world, IWG is the largest company in the sector with a presence in 120 countries, with five different brands: Spaces, Regus, Signature by Regus, HQ and No18.

Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!