Trend shows corporate companies choosing to utilize WeWork offices

Trends point to corporate heavy hitters opting for flexible workspaces, turning to companies like WeWork.

The tough economy, the trend towards flexible office environments and access to global markets are among the reasons behind more local corporations, such as Standard Bank, Naspers and Red Hat, moving their teams to WeWork’s co-working offices.

Officially launched locally in September, the shared workspaces company is a chain of co-working spaces that offer flexible working spaces and exclusive services to members, rivaling the traditional larger office set-up.

Since opening its doors, WeWork South Africa’s largest office space, based at The Link in Rosebank, has reached a 99% occupancy rate, with 43% of its members consisting of large enterprises.

Targeted at established corporations, freelancers and entrepreneurs, WeWork says it is disrupting the local real estate office sector by offering enterprise tenants sublet offices, which they may not otherwise be able to afford, eliminating overhead costs, and offering global networking opportunities.

T-Systems, FTI Consulting, Discovery Health and Platform45 are among the local enterprises that have taken up space at WeWork’s Rosebank-based building. They join the ranks of global corporates such as Microsoft in Seattle, financial services company HSBC in London, Deutsche Bahn in Germany and Carrefour in Paris, which are opting to move to these cosy corporate co-working areas.

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