IWG Announces Expansion in Hungary With 3 New Openings

Analysis

Hybrid working solutions provider IWG, which offers brands including Spaces, Regus, HQ, and Signature, is expanding its portfolio in Hungary with three new openings, as the demand for hybrid working rapidly accelerates.

Hungary has been witnessing strong growth in the number of flexible workspaces across the country over the past few years. The addition of IWG’s latest locations across Budapest comes on the heels of the business posting its rapid network growth, with 867 new locations added to its global portfolio over the course of 2023 – almost doubling the number of new locations compared to the previous year.

Adding more than 3,000 sqm to its footprint, all three locations by IWG are delivered in partnership with the building owners who have chosen the IWG flexible workspace platform and have entered into a management agreement with the Regus and HQ brands.

Part of a drive to meet the sharply rising demand for top-class flexible working space in the city, Regus Infopark will be located in District XI of Budapest - with a high number of commuters from small cities and suburbs around the capital. This new flexible workspace will add 1,264 sqm to the portfolio in Hungary.

The new state-of-the-art HQ F99 will be located on the left of the river in the capital city, with ample amenities including private offices, meeting rooms, co-working and creative spaces. Providing facilities for businesses of all sizes, the new 1,200 sqm flexible workspace is set to open in September this year.

Reaching a total of 18 locations in the capital, IWG is also opening Regus Szépvölgyi in Budapest, a 900 sqm workspace designed to provide a working environment for limitless creativity and productivity. Opening in June 2024, the new location will provide the working communities of Budapest with an upscale workplace with coworking areas, modern private offices, and dynamic meeting rooms.

As the ongoing shift towards hybrid working accelerates, conventional office occupancy will continue to fall as businesses require less traditional space and turn to flexible workspace instead, the company notes. In 2023, IWG welcomed hundreds of new partner locations and is on track to add around 1,000 over the course of the next year. IWG already counts 83% of Fortune 500 companies among its customers.

Mark Dixon, CEO & founder of IWG, commented, “We are establishing a stronger and much-needed footprint in Hungary with three new locations. As an important business hub, Budapest 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 with our esteemed partners to develop the Regus and HQ brands under management agreements that will add cutting-edge workspaces to their buildings.”

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