IWG continues to expand nationwide. The flexible workspace operator has agreed to open its second centre in Palma. This new space will have 1,918 square metres and capacity for 241 workstations. It will be located on the Gabriel Roca promenade, in the Santa Catalina neighbourhood, opposite the marina.
Under the Spaces brand, IWG is scheduled to open on 15 January 2024. The space is owned by the local Bocalber group. With this addition, the company strengthens its presence in Palma, where it started in 2017 with a Regus centre in Son Castelló. The facilities will include four equipped meeting rooms and a 260 square metre terrace for events. IWG is looking to attract established companies and start-ups to this new space in Palma.
IWG aims to reach 500 flexible workspace centres in Spain by 20230
Philippe Jimenez, country manager of IWG in Spain, said: "We are establishing a more solid and necessary presence in the city with this latest opening. As a major and growing business hub, Mallorca is a fantastic location to drive our expansion plans. The need for high quality, flexible workspaces continues to increase as hybrid working becomes the new norm".
By opening this newly established hub in Palma, IWG will extend its already extensive network of more than sixty hybrid workspaces in Spain, under recognised brands such as Regus, Spaces, Signature and HQ. The company has an ambitious expansion plan that includes the incorporation of up to 1,000 new complexes to its global portfolio over the next year. In relation to the flex market in Spain, IWG's growth plans aim to reach the figure of 500 establishments in the country before 2030, with a consolidated presence in all the cities of the territory.
This expansion tactic will be executed primarily through partnerships with investors and landlords, as evidenced in the instance of the centre located in the Balearic capital. These management agreements include the landlord's responsibility to cover the capital investment required to adapt the space according to IWG guidelines, in addition to sharing a percentage of the revenue generated by the operator.