Future of Work

The Coworking Revolution

Future of Work – The Coworking Revolution 1

2 Future of Work – The Coworking Revolution
Preface
With improved automation enabling a
distributed workforce, emergence of the
start-up economy and multiple travel The Future is Coworking and its tomorrow’s new
options offering access to remote areas,
office opportunity!
community working, economical spaces
as well as plug-and-play cubicles are the
need of the hour and on-demand today.
Every now and then, this virtual workforce
Mumbai MMR offers the best opportunity expanding class of millennials who know
needs to collaborate and those in remote
for creating co-working offices, targeted exactly what they want, are triggering
areas need to have presence near a
at firms seeking activity-based spaces workplace reforms - where ‘Uber-Cool’
Central Business District (CBD). Leasing
for focussed talent groups. Not to be and ‘Chic’ tribes will be the New Normal.
large office spaces for such marginal
left behind, large corporate firms too, Limited growth is part of today’s larger
requirements, ruins the economics for
are bucking the trend in the search for global reality, and the creation of
most leaner organisations – especially
alternative workplaces to nurture top innovative shared communities like co-
within the entrepreneurial zone. The high
talent. working seems to hit a chord.
cost of establishing and maintaining full-
Additionally, for the few institutionalised This thought leadership is about the
fledged offices as well as the challenges
coworking operators operating in India ‘Future of Work’ and seeks to unravel
in flexibility with long-term leases make
today, occupancy levels have been a new world order of co-working,
this model unviable. As a result, prime
nearing 100%. The break-even period for where corporate real estate propels its
real estate has remained elusive for most
such operators has been approximately ambitions, embraces uncertainty and
start-ups, SMEs and even established
five months of launching—bearing turns disruption into an opportunity.
medium sized firms.
evidence to the pent up potential across
However, there is now hope on the
India’s top cities.
horizon, with the availability of viable
Marginal slowdowns in the global
options for renting prime central offices
economy accompanied by an ever
in a flexible manner at Coworking spaces.
Coworking or Community Working is a
great boon today, for a firm with a limited
human capital, or for one which requires
space for a short period. As per this paper,

So are you ready

to move your
coffee mugs
Ramesh Nair Juggy Marwaha
around?
CEO & Country Head India Lead
JLL India WeWork
 Turning Disruption
into Opportunity
The Rise of Coworking Spaces

Alternative workspaces and activity-

based working concepts like coworking
are the result of simultaneous disruption
and innovation in the workplace.

“Coworking” is recognised as a style of to tie up capital to a lease obligation. In

working as well as refers to the physical addition, coworking spaces are used on
space where such a sharing community an on-demand basis.
exists. Coworking essentially involves The coworking concept is not new,
individuals or small groups working but what is exciting about it is the
independently, but with access to each tremendous growth it has seen around
other’s critiques, opinions and ideas. It is the globe in the past several years. It is
especially popular among boutique firms essentially the private sector’s response
and start-ups today, for whom coworking to meet today’s activity-based work
spaces offer flexibility without the need requirements.

4 Future of Work – The Coworking Revolution

Who moved my Coffee Mug?
The most prevalent reasons for using India is fast becoming a hub of such is expected to grow by 40-50% in 2017.
shared spaces across the globe are shared work spaces as the trend of a The opportunity now exists for CRE
reduced costs, no fixed capital investment ‘sharing economy’ gains traction in the organisations in India to leverage the
and increased flexibility. Occupier interest country. Online communications and growth of coworking networks to replace
in small, but optimally serviced, work peer-to-peer sharing reduces the need their small location requirements.
spaces in premium locations is increasing for large physical spaces. Global firms
by the day. It is anticipated that by like WeWork are expanding in India and
2020 coworking space will overtake the are replicating some of the coworking
traditional serviced office. spaces established in mature markets.
With their flexible lease options and This adds a uniformity to the look of
location benefits, these new shared coworking spaces and helps creates the
workplaces are serving the on-demand brand as well. The coworking segment in
needs of young entrepreneurs, millennial India is expected to receive $400 million
start-ups as well as global firms in investments by 2018, according to a
testing new markets as they expand study by JLL. Consequently, the segment
geographically. For corporate real estate
(CRE) occupiers, employee experience
in the workplace is an additional area of
focus, to attract and retain talent, as a
generational shift takes place in the labor
market.

The coworking segment

in India is expected to
receive $400 million in
investments by 2018,
according to a study by
JLL. Consequently, the
segment is expected to
grow by 40-50% in 2017.

Future of Work – The Coworking Revolution 5

 1 Of Hot Desks
and Funky Work Stations
Over the past few years, several
companies have collectively helped
create a novel form of business. The
model goes by many names—shared
convenience is a high priority, and hence
prime office location is important as is
infrastructure. In India’s top cities of Delhi
National Capital Region (NCR), Mumbai,
The model that works best for start-ups
and emerging businesses in India with an
average staff size of approximately 5–10
employees, according to a JLL study, is
workplaces, on-demand workspaces, or Bangalore and Pune, a co-working space the hot desking model in combination
peer spaces—but they all share certain is likely to lead to cost savings in the range with a dedicated desk model.
commonalities. of 20–25% when compared with leasing Large corporate firms, however, prefer
According to a recent JLL study, the key a traditional office space. hot desks as well as fully furnished /
drivers of coworking spaces in India are To cater to emerging businesses, startups serviced offices. They specifically require
predominantly—cost, infrastructure and and freelance professionals, shared innovative models within shared spaces
networking opportunities. Consequently, workplace operators offer different in cities where they do not have any
the different models of such shared types of office spaces such as business existing offices, preferably for a team size
spaces vary according to the needs of centres or serviced offices, coworking of 10-15 employees.
the occupier sets. While freelancers are spaces, incubation spaces and even Most of these coworking models operate
primarily focussed on the cost factor, virtual offices. A coworking space is out of single spaces and stand at healthy
start-ups and small and medium-sized usually an open floor-format office with 85% and above occupancy levels. The
enterprises (SMEs) focus on cost as well shared spaces for meetings,networking average number of seats vary between
as infrastructure. For large corporate and collaboration. They primarily try 60 and 80 in most of these non-branded
firms, on the other hand, travel to address the on-demand needs of spaces, with an average size of ~2,000
occupiers. sq. ft. This is approximately 28% of
the average size of global coworking
spaces. For the few branded coworking

6 Future of Work – The Coworking Revolution

operators present in the market, however,
occupancy levels have been nearing
100%. These spaces typically offer an
average size of 11,000 sq. ft.
Take the case of global organisations
for e.g. WeWork entering India with
coworking spaces. They provide the
space, services and both offline and
online communities, for all members to
collaborate and grow their businesses
to its maximum potential. Such
global models typically take care of
all office space basics with beautifully
designed space, Wi-Fi access and office
management. In the process, such
spaces also connect people with similar
interests and businesses, from cities all
over the globe. Whilst providing a larger
networked community that enhances
collaboration and increases business
manifold.

We are witnessing a truly disruptive business model

in the form of coworking. With millennials driving the
workforce and the growing need to build communities,
we have a chance to shape the future of work. The
coworking revolution will truly define the future of work in
the commercial office segment - This is where tomorrow’s
new office space opportunity lies.

Ramesh Nair
CEO & Country Head
JLL India

Future of Work – The Coworking Revolution 7

 2 Cutting Chai &
Cutting-edge Workspaces:
Mumbai and Bangalore Beckons!

Planning for 2020, Mumbai and Bangalore offer by far the

best opportunity for creating coworking spaces targeted
at corporate firms seeking activity-based office space for
focussed talent groups.
Large corporate firms also form the most significant group
looking for funky workplaces to nurture their top talent!

The coworking segment in India is are less than 100 branded coworking unbranded/unorganised) operators in the
expected to receive $400 million in spaces operating in India at present, country at present, operating almost 720
investments by 2018, according to a but the good news is that this number is centres across urban India.
recent study by JLL. Consequently, the expected to expand by four times over a The potential market size for the
segment is expected to grow by 40- period of three years. Aggregated shared coworking segment across India currently
50% in 2017, to reach over 1 million sq. offices, meanwhile, are set to reach stands in the range of 12-16 million . This
ft. of leased ‘alternative’ work spaces approximately 500 centres by 2020 from includes start-up employees, professional
by the end of the year. Currently there their current status of about 150 centres freelancers, staff at emerging businesses
are a little over 200 premium business (source: Qdesq). There are approximately as well as large corporate office
centres across the country that are set 300 shared workplace (both branded and employees.
to double by 2020. Meanwhile, there

8 Future of Work – The Coworking Revolution

Potential market size for coworking Total addressable market size
across India across 6 major cities

11% (0.55 mn) 20%(1mn)

Freelancers SMEs
1.54 mn 0.1mn
Freelancers Startups

15.5 mn 23% (0.95mn)

MSMEs
1.54 mn 10.3mn
SMEs Enterprise 69%(3mn)
Enterprise

Source: JLL research

Of this potential nation-wide market size, the

1.25 Addressable market size for
6 major cities
total addressable market size for coworking 0.83

space across the six major cities of Delhi NCR,

(67%)
1.04
Mumbai, Bangalore, Chennai, Hyderabad and 0.70
Pune is approximately 5 million. (67%)

The maximum (nearly 70%) business

opportunity here lies with large corporate firms
seeking alternative, activity-based workplaces 1.57 0.53
to nurture their talent and further their business
growth. The small, emerging business sector
0.37
(65%) 0.35
(67%)
0.42 0.39
(~20%) follows as the second demand group 0.28 0.27
0.25
(23%) 0.08 (65%)
looking for hot desking opportunities at low- (23%)
(65%)
0.13 0.12 0. 09 0. 09
cost shared workplaces, while professional (22%) (23%) (22%) (22%)

freelancers and start-ups form the rest (~10%) of 0.11 0.08 0.13 0.12 0. 09 0. 09
(8%) (8%) (22%) (23%) (22%) (22%)
the market demand.
Mumbai NCR Bangalore Chennai Hyderabad Pune

Enterprise SMEs Freelancers/ Startups (All numbers in million)

Source: JLL research

Mumbai offers the highest business corporate enterprises continue to form smaller cities like Pune and Hyderabad,
potential with a captive target of over a the major chunk of this addressable for instance, prefer the business centre
million people, followed closely by the opportunity across the country’s six major format. This is perhaps because business
NCR with about another million who cities. The emerging business sector centers had emerged on India’s ‘flexible’
would need flexible offices. About half- follows as the second, while freelancers workplace scene at an earlier date.
a-million each of the total addressable and start-up staff contribute to the rest of Moreover, India’s top three cities have
market demand for coworking spaces this demand in India’s major cities. typically led the transformation in its built
would be found in the three main spaces and other cities have eventually
The demand for coworking spaces is
southern cities of Bangalore, Chennai followed.
also the highest in the top three cities of
and Hyderabad, along with Pune. Large
Mumbai, Delhi NCR and Bangalore; while

Future of Work – The Coworking Revolution 9

 India takes Baby Steps
The coworking industry is still in its
nascent stage in the country, with several
players emerging in the market. This
is reflected in the fact that over 90% of The future of this industry will redefine the term
India’s 300 shared workplace operators ‘co-working’. The trend is moving towards creating beautiful,
started their first coworking space in the well designed and functional spaces that encourage
last 12 months! (source: Coworkyard) collaboration and  create a sense of community. There will
This space has already gained sizable be a paradigm shift in the way companies will operate in
attention from occupiers and operators. future and some of the best innovations will be an outcome
With 3–4 startups emerging every day of such true community collaboration. 
over the past few quarters, India has
become the third largest startup hub in
 Juggy Marwaha
India Lead
the world, with a total employee base of
WeWork
a million. The numbers are expected to
more than double by 2020. In addition,
India has a huge freelancer workforce
(second in the world), in excess of 15
million professionals, and growing at
a fast pace. Together these two factors
present a potential demand for more
than 3.5–4 million seats.

With office rental costs continuing to rise across India’s business districts,
the total space leased by coworking operators in the top cities could
potentially stand at ~7–9 million sq. ft. by 2020.

10 Future of Work – The Coworking Revolution

Currently, most of the coworking spaces to enter India’s coworking marketplace. mid to large sized organisations. Despite
(over 95%) in India function out of rented Interestingly, most plan to purchase it being P&L friendly and facilitating
properties, which is in line with the global property for their Indian coworking higher productivity, organisations are yet
average. Most shared office operations operations. to accept this emerging space due to real
in India are also currently dominated By 2025, it is predicted that 42% of India’s and perceived challenges related to data
by domestic players (almost 90%), with population will be living and working in security, possibility of higher attrition and
global operators just beginning to make its urban centers—spelling out a larger a sharp divergence from the traditional
an entry into the marketplace. opportunity right there for a large urban manner of working. While a few,
WeWork, the largest coworking space population likely to adopt shared work especially in creative and media fields,
provider in the world, has been a recent spaces in less than a decade. have started considering this option, we
entrant, with the first centre in Bangalore expect more awareness on this front will
While the numbers seem encouraging,
followed by Mumbai and Delhi NCR in help more organizations take calculated
a massive section is still maintaining its
the Indian coworking ecosystem. Many steps towards this non-traditional mode
distance from coworking options—i.e.,
more players from the US are also set of working and workplaces.

Future of Work – The Coworking Revolution 11

 3 Millennials “Like”
“Cool” Offices
A stagnant global economy and
millennials who know exactly what they
want are triggering workplace reform
around the world, where “cool” offices will
be the new normal by 2020. Low gross
domestic product growth, low interest
rates, low capitalization rate yields, and
low rental growth are part of the larger
global reality creating innovative shared
These are difficult times for CRE managers,
even as most global firms expect to
increase their headcount—especially in
Asia—by 2020, they also identify economic
uncertainty as a major threat. This is
exactly where “cool”, activity-based and
shared workplaces come into play with
more emphasis on flexible open areas for
brainstorming, quiet zones and relaxation
workplaces like coworking. spaces.
Take the case of a global consultancy To hire key talent, especially millennials,
firm in Tokyo that occupied five floors companies have to have exciting offices to
of an office building in an unexciting appeal to the new generation workforce.
warehouse district. Last year, the firm Global industry experts researching on the
moved into less than half of its earlier emerging trends in real estate mention the
office space housed within a glitzy fact that approximately 10% of millennials
skyscraper right in front of Tokyo Station. are willing to take a pay cut to work in an
The loss of almost a quarter of its earlier office in a good location and with a good
office space was compensated by 15 design!
different types of workspaces. These Companies that are planning coffee bars,
included standing desks, cafe-style desks canteen areas, game rooms, bike racks,
and silent library-like offices where talking fitness centres, and day care centres—
and ringing cell phones were prohibited. may just have put their finger on the right
Their employees loved the new spaces. “coolness” quotient that their top talent
requires.

12 Future of Work – The Coworking Revolution

 The sharing economy is central
to the economic future of the
millennial workforce.

New Kids on the Block-

why do millennials matter
The future of the workplace is changing. The way we work
is evolving to meet the new demands of a marketplace
Also an important factor to note here is driven by advancing technology, and where agile
that India is the youngest start-up nation businesses are disrupting the status quo. And this change
is largely due to the way millennials approach work.
in the world, where 72% of the founders
Millennials matter because they are not only different from
are less than 35 years.
those that have gone before, they are also more numerous
than any since the soon-to-retire Baby Boomer generation.
Millennials already form 25% of the workforce in the US
and account for over half of the population in India. By
2020, millennials will form 50% of the global workforce

Demography for start-up

founders

Age

20 years 20-25 years 26-30 years 31-35 years 36-40 years 41-45 years 45 years Founders
Gender Breakup
0.3% 15% 25% 31% 15% 6% 6%
91%
Education

Comparatively small
Engineering MBA Other Other Post Engineering Others share of women
Graduate Garduate Garduate Post Graduate entrepreneurs
35% 26% 15% 10% 4% 10% 9%

Future of Work – The Coworking Revolution 13

 Experts say that millennials will have as A millennial’s need for change and doing away with the daily grind and
many as four or five different careers— fulfilment may even be addressed by focussing on productivity instead. The
not jobs—in the course of their profes- alternative career choices within the new gigging career of the millenni-
sional lives. This new generation of the same organisation. A shared workplace al—custom-assembled and defiant
workforce is hard wired for change and that helps this young generation of “of- of organizational constraint—is why
for maximising their skills to fit in with fice” workers maximise their skills—with part-time fiction writing or weekend
their personal life goals. the right exposure, the network and the fitness instructing is increasingly finding
On-demand, flexible spaces are where experience that they seek—might just acceptance.
they prefer to work. Retaining millen- manage to nail them! Entrepreneurs, freelancers, start-ups,
nial talent would have to be an inno- For a generation whose outlook artists, small businesses and divisions
vative mix of agile workspace design includes community engagement and of large corporations are together driv-
along with the career platform that self-definition, a career and a work ing the adoption of coworking spaces
organisations can offer. A good career place along old vertical lines simply do today.
trajectory, a sponsor, an environment not appeal. A futuristic tech economy
where voices are heard and respected pre-supposes a freer way to work, by
are just some of the elements that may
help corporates attract and hold on to
talent.

14 Future of Work – The Coworking Revolution

The Tech Element
Workplace strategy that once used to workplaces to places to work, informa-
be about maintaining facilities and tion and technology, human resources
cutting expenses have come back and CRE functions must work together
full circle. Organisations today need to create new workplace policies and
to create spaces that attract the best solutions that respond to this change.
talent, adjust to shifting workforce With improved technology enabling
demographics and promote employee distributed workforces and travel op-
well-being. In addition, all this has to tions enabling access to remote areas
be accomplished in an increasingly of a city, economical office space is
competitive recruitment and retention easy to locate. Mobile technologies and
landscape. The changing workplace personal devices have made working
also needs a change in CRE strategy, remotely from a variety of locations
where the focus is laid squarely on the much easier, along with all the modern
“core” and “flexible” work areas of an tech frills—such as high-speed WiFi
organisation. access and on-demand IT solutions
The answer to such new demands is facilitating virtual collaboration.
simply—new technology.
According to Citrix’s “Workplace of the
Future” report, about 89% of global or- Coworking operators alleviates start-ups
from incurring a hefty capex, which is relevant at the
ganisations will offer mobile work styles
moment. These are companies that don’t necessarily
by 2020, enabled by mobile working
need a front office identity and therefore it is needless
technology . As the world shifts from to spend on costs that arise from expenditure such as
common area maintenance and overhead costs.

Shobhit Agarwal
Managing Director
Capital Markets - JLL India

Future of Work – The Coworking Revolution 15

 4 Five Reasons
why you would want to
consider coworking?
For Corporates & Start-ups:
•

•
Cost effective: Cost per seat in coworking spaces is anywhere between half and one-third
of conventional leasing costs.
No gestation period: Due to readily available infrastructure, you can start working from
day one. Even while travelling, you do not need to search for space to utilise your free
time. You can pre-book your seat in the preferable area and start working with all desired
amenities.
• Enhance productivity: Through tie-up with operators who have spaces at multiple
locations or with multiple operators at different locations, you can provide the nearest
options to employees—saving time and improving productivity.
• Collaboration: Collaboration with professionals from other fields can help employees stay
updated on market trends and enhance his skills or incorporate new skills. It also provides
a chance to meet new talent and promotes knowledge sharing.
• Easy team expansion: There is no restriction on increasing number of seats in a coworking
facility unlike conventional leasing, where due to the limited size of the leased area team
expansion becomes difficult.

Specialized coworking spaces as a

concept is still to catch up in India, and
the rate of adoption for freelancers is
likely to rise with launch of specialized
coworking spaces in India.

Himanshu Bhatia
Coworkyard

16 Future of Work – The Coworking Revolution

For Developer, Landlord & Investors:
• Higher occupancy: Supply of well managed coworking facilities is very low
compared to the potential demand, and hence high occupancy can always
be maintained.
• Flexibility: Depending upon expected clientele in a location, the owner/
operator can decide on the best suited combination of open desks, closed
cabins, meeting rooms, etc.
• Better pricing: Rentals of coworking spaces are renegotiated every year,
and hence, provides options to add escalations every year, as compared to
once in three years in the conventional leasing model.
• Base for future occupier: Once the team size (especially for start-ups)
increases beyond a threshold, it is feasible to lease own space. In such
cases, occupiers usually prefer to expand in the same property, providing a
base for future occupiers.
• Low working capital: Once stabilised at more than 60% occupancy, such
places become self-sufficient financially and do not require regular capital
infusion.

Future of Work – The Coworking Revolution 17

 5 Future of Work
The real estate landscape is changing—a
traditional approach to strategy, decision
making and operations is no longer
sufficient. In fact, stability is now an
illusion, or worse, a sign of stagnation.
To thrive in this period of disruption and
uncertainty, taking a visionary approach
is a must.
CRE firms have implemented strategies
In this exciting era of disruption, JLL
presents “Future of Work”, our unique
outlook on the changing world of work
and its impact on the next generation
of corporate real estate. The model
is designed to highlight areas that
companies should address to navigate
these seismic shifts in the market: human
experience, digital drive, continuous
ranging from space rationalisation, agile innovation, operational excellence and
seating, and work-from-home options financial management.
to implement an organisation-wide
change. Cost savings should not be
the only driver for workspace change,
however, and overall productivity and
There’s so much energy, creativity and
employee effectiveness, along with
passion around you at WeWork, there’s an
generational shifts, should all be taken
extra benefit for them just from being part of
into consideration.
the same community.
The shared workplace is an alternative
lease arrangement through a third party
that provides corporations with inherent
Matt Donovan
Microsoft
flexibility. Landlords are also seen striving
to tap into this emerging revenue stream.
It will become a virtual must as an
increasing number of occupiers look for
ways to breathe new flexibility into their
spaces.

18 Future of Work – The Coworking Revolution

 Decoding the
Five Dimensions
Digital Drive
Harness digitization and rich data
to enhance people and enterprise
Human Experience performance
Enhance user experience
through engagement,
Continuous Innovation
empowerment and fulfillment
Combine new thinking,
solutions and processes to drive
value creation and accelerate
transformation
Financial Performance
Manage spending to enable
growth and enhance return Operational Excellence
on investment (ROI) Optimize enterprise resources
and service delivery to increase
productivity, mitigate risks and
ensure high performance

Future of Work – The Coworking Revolution 19

 That whole founder-to-founder thing sets
WeWork apart. We are learning from so many other
people here because they are doing the same stuff.
More often than not, they’ve gone through the same
process as us. Instead of scratching your head or
looking up info on the internet, you just ask someone
in the next office or someone sitting beside you.

David Ball
BrandFuel

20 Future of Work – The Coworking Revolution

7 Smell the Coffee:
Move Beyond Cubicles
Ultimately, as pointed out right in the
beginning, alternative workspaces are
the result of disruption and innovation,
largely created by a sharing economy.
To survive in a world where flux is the
only constant, corporations not only
need talent, they also need an inspired
Building owners need to work in
alignment with tenants to create new
leasing options that provide greater
ability to manage volatile headcounts.
These can include mixing core leased
spaces with short-term, alternative
working places and other facilities that
workforce who are given the right tools, enhance the experience of those working
encouragement and freedom to perform in the building and the surrounding
to the best of their abilities. The physical precinct.
workplace environment can play a critical
role in not just attracting and retaining
talent, but in helping employees to be
successful and productive.
Talent scarcity is a challenge, and
companies who understand this are
already transforming their physical
office spaces to drive talent attraction,
strengthen employee engagement and
boost employee wellness.

Future of Work – The Coworking Revolution 21

 Challenges Ahead
While the prospect of coworking While it is important to control the cost of
space over the next couple of years creating and operating workplaces, it is
looks bright, there are some concerns also critical to understand the value that
regarding the sustainability of growth workplaces create in terms of attracting,
of coworking space in the longer term. retaining, motivating and enabling a
Some consolidation is expected as workforce.
the coworking market matures. Due
to exclusivity agreements, moreover,
most office buildings are only able to
accommodate one coworking operator.
This significantly limits the range of
quality options that coworking providers
can be housed in and consequently
its growth potential. Nevertheless, its
emergence has led to a fundamental
change in attitudes towards the
traditional office format.

22 Future of Work – The Coworking Revolution

Real estate’s potential to enable your
organisation to achieve its ambitions is
bigger than it has ever been—and this is
only the beginning.

Are you ready

for the Future
of Work?

Future of Work – The Coworking Revolution 23

 Contacts
For business enquiries

Ramesh Nair Juggy Marwaha Shobhit Agarwal Nitish Bhasin

CEO & Country Head India Lead MD - Capital Markets MD - Markets
JLL India WeWork JLL India JLL India
+91 22 24828400 +91 9845217999 +91 9892001200 +91 9871084466

Authors Special Acknowledgement

Ashutosh Limaye Akshit Shah Niharika Bisaria Shajai Jacob

Head - Research and REIS AVP – Research Editor Director & Head – Marketing
JLL India JLL India JLL India JLL India
+91 22 39851319 +91 9819578866 +91 9833791999 +91 9811382069

About JLL, India

JLL is India’s premier and largest professional services firm specializing in real estate. With an extensive geographic footprint across 11 cities (Ahmedabad, Delhi,
Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh and Coimbatore) and a staff strength of over 9,300 - the firm provides investors,
developers, local corporates and multinational companies with a comprehensive range of services including research, analytics, consultancy, transactions, project
and development services, integrated facility management, property and asset management, sustainability, industrial, capital markets, residential, hotels, health care,
senior living, education and retail advisory. The firm was awarded the Property Consultant of the Decade at the 10th CNBC-Awaaz Real Estate Awards 2015 and the Best
Property Consultancy in India at the International Property Awards Asia Pacific 2016-17.
For further information, please visit www.jll.co.in

About WeWork: WeWork is a global network of workspaces where companies grow together. Teams of any size can find refreshingly designed collaborative space,
private offices, and meeting rooms that energize their employees and their guests. But WeWork is so much more than four walls—providing community, amenities,
events, and technology to evolve space into experience. For further information, please visit www.wework.com

About CII: The Confederation of Indian Industry (CII) works to create and sustain an environment conducive to the development of India, partnering industry,
Government, and civil society, through advisory and consultative processes.
CII engages closely with Government on policy issues and interfaces with thought leaders to enhance efficiency, competitiveness and business opportunities for
industry through a wide portfolio of specialized services and strategic global linkages. It also provides a platform for consensus-building and networking on key issues.
Extending its agenda beyond business, CII facilitates corporate initiatives for integrated and inclusive development across diverse domains.
The CII theme for 2017-18, India Together: Inclusive. Ahead. Responsible emphasizes Industry’s role in partnering Government to accelerate India’s growth and
development. The focus will be on key enablers such as job creation; skill development and training; affirmative action; women parity; new models of development;
sustainability; corporate social responsibility, governance and transparency.
Founded in 1895, India’s premier business association has over 8300 members, from the private as well as public sectors, and an indirect membership of over 200,000
enterprises from around 250 national and regional sectoral industry bodies. With 66 offices, including 9 Centres of Excellence, in India, and 10 overseas offices in
Australia, Bahrain, China, Egypt, France, Germany, Singapore, South Africa, UK, and USA, as well as institutional partnerships with 344 counterpart organizations in 129
countries, CII serves as a reference point for Indian industry and the international business community. For further information, please visit ciiwr@cii.in

Jones Lang LaSalle Property Consultant (India) Pvt Limited © 2017. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.

Copyright © (YEAR) Confederation of Indian Industry (CII). All rights reserved. No part of this publication may be reproduced, stored in, or introduced into a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording or otherwise), in part or full in any manner whatsoever, or translated into any language, without the prior written permission of the copyright owner. CII has made every effort to ensure the
accuracy of the information and material presented in this document. Nonetheless, all information, estimates and opinions contained in this publication are subject to change without notice, and do not constitute professional
advice in any manner. Neither CII nor any of its office bearers or analysts or employees accept or assume any responsibility or liability in respect of the information provided herein. However, any discrepancy, error, etc. found in this
publication may please be brought to the notice of CII for appropriate correction.
Published by Confederation of Indian Industry (CII), The Mantosh Sondhi Centre; 23, Institutional Area, Lodi Road, New Delhi 110003, India, Tel: +91-11-24629994-7, Fax: +91-11-24626149; Email: info@cii.in; Web: www.cii.in

24 Future of Work – The Coworking Revolution