This archive report was first published on 2 November 2019.
As the business world continues to evolve, Nairobi is embracing a new trend in office spaces – shared offices. This concept, where multiple companies share a single office space, has been gaining popularity in the city over the past few years.
According to Peter Awori, CEO of Circle Savings Fintech, the shift to shared offices has been a game-changer for his company. Two years ago, they ditched their conventional office for a shared one, and have not looked back since.
“Before, we had an office, it was tedious. As a closed environment, we couldn’t really interact. Currently, we record some added value to our business from our interaction with people from other fields and cultures,” he said.
Regus, a global leader in shared office spaces, has also been expanding its presence in Nairobi. The company recently opened its tenth location in Upper Hill, and attributes the growth of virtual office spaces to their comparative offering over traditional offices.
“If you want to be competitive in attracting top talent, flexible work becomes a huge advantage,” said Heidi Duvenage, Regus Country Manager for East and Southern Africa.
According to Regus, Nairobi is the company’s best-performing node in the region, with occupancy rates having surged above 80 percent in 2019.
Shared office spaces offer employees a range of benefits, including shared equipment, space, and services such as communal copiers, internet, and shared lounges.
As the demand for shared office spaces continues to grow, the city is expected to see an increase in new entrants and a rise in occupancy rates.
However, the growth of shared office spaces is not without its challenges. The oversupply of office spaces in the country may lead to internal competition and a glut in the market.
Despite these challenges, Nairobi is warming up to shared office spaces, one square foot at a time.
