The addition of IWG’s latest location comes on the heels of the business posting its highest-ever revenue, cash flow and earnings growth in its history and achieving rapid network growth, signing 465 new locations in the first half of 2024 alone.
Situated on the Vaal River, a predominantly industrial city, rich in heritage, boasting beautiful old buildings, and a mere 70km from Gauteng, this new location is part of a drive by IWG to meet the sharply rising demand for top class flexible working space in the area. By bringing a high-quality office space to the Vaal Triangle, IWG is enabling local people to experience living in a ’15-minute’ city, allowing workers to work close to their homes without commuting far from where they live.
Set to open in September, the building will provide space for established firms and start-ups across a range of industries including mining,industrial and law companies, while IWG’s Design Your Own Office service allows companies to tailor their space entirely to their requirements. The new Regus location will include facilities including private offices, meeting rooms, co-working and creative spaces.
The building owners decided to invest in the IWG platform to maximise the return on their real estate space by capitalising on the rapidly expanding demand for hybrid working. With an annual investment of around $65m (£50m) into its technology platform, IWG provides partners with access to all the company’s expertise as well as design and fit-out support and sales and marketing capabilities.
With explosive market growth as companies of all sizes adopt hybrid working for the long-term, it is predicted that 30% of all commercial real estate will be flexible workspace by 2030. With IWG, partners are able to capitalise on this fast-growing sector, while being supported by IWG’s unparalleled experience. Hybrid working offers companies a significantly lower cost base with an average saving of close R190 000 per employee per year.
IWG is the world’s leading provider of flexible workspace – featuring nearly 4,000 locations in more than 120 countries with members able to access all of the locations and business services via the IWG app.
As the ongoing shift 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 $2tn (£1.57tn). Conventional office occupancy will continue to fall as businesses require less traditional space and turn to flexible workspace instead. In 2023, IWG welcomed over 800 new partner locations and counts 83% of Fortune 500 companies among its customer base.
Mark Dixon, CEO and founder of International Workplace Group PLC, commented: “We are establishing a stronger and much-needed footprint in the Vaal Triangle with this latest opening. As an important business hub Vanderbijlpark is a fantastic place for us to boost our expansion plans. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal. We are very pleased to work in partnership with Dr De Lange to develop the Regus brand under a management agreement that will add a cutting-edge workspace to their building.
“Our opening in Gravitas Office Park, comes at a time when more and more companies are discovering that flexible working boosts employee happiness and satisfaction, while helping the environment. Our workplace model is also proven to increase productivity and allows for a business to scale up or down at significantly reduced 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 organisations on the planet, to individuals and the next generation of industry leaders. All of them harness the power of flexible working to increase their productivity, efficiency, agility, and market proximity.
For more information, visit International Workplace Group.
