A few trends in co-working space business growing in Thailand with reasons CPN pulls Common Ground to invade Thailand
In the next few years, The majority of the workforce in the market will become millennials. That replaces the original group like Gen X or Baby Boomer, with an estimate that in the next 1-2 years, the millennials in our home will expand to half or 50% in the labor market.
While タイのコワーキングスペース working styles in the future will have more Flexibility, both from a variety of careers in line with the Mobility era, resulting in both freelancers Or entrepreneurs, SMEs, including Entrepreneurs, expanding, increasing the need for workspaces suitable for small businesses. There are more especially in a good location that has a full range of facilities at a price level that small businesses can afford It has become an important reason for the growth of the co-working space business and the presence of new players. into the business continuously
Recently, with a new deal from a big player like Central Group, when Central Pattana Public Company Limited or CPN expands its business line to co-working space by collaborating with Common Ground Group (Common Ground Group), brand executive “Common Ground”, a co-working space business from Malaysia. which is the fastest-growing in Southeast Asia By establishing a joint venture company in the name of Common Ground Thailand Company Limited with an initial registered capital of 400 million baht in a 51% stake from CPN and the Common Ground Group 49%.
Trends driving the co-working space business
The jump into the co-working space of a large business like CPN. especially by entering into a joint venture with a rising star As the Common Ground reflects that CPN should see opportunities and growth trends in interesting businesses, with Mr. Isaret Chirathivat, Senior Director of Sales, Central Pattana Plc. pushing co-working space business in Thailand to grow, As a result, there are more investors in this business from abroad to expand their investment into Thailand. This is expected for the following main reasons:
- Following the direction of one of the megatrends in which the lifestyles of the new generation of people will change according to Technology and require more flexibility or flexibility, they need a workspace that is consistent and conducive to work, especially the strengths of A co-working space that is Collaborative Workspace, resulting in the opportunity to expand the business network to be more extensive
- Trend of business expansion in the form of startups or SMEs which is also a small business Or just in the beginning of the business, so there is not enough capital to rent a large office. Most of them are expensive, especially in urban locations where prices will increase, even more, leading many businesses to choose co-working spaces as their answer. where the growth trend is in line with the expansion of business operators in this group Especially in the SME group that is expected to grow at least 10-15% per year.
- In terms of structural changes in the labor market that will see more than half of the millennials become the main labor force in the near future The behavior of this group of people do not like the monotony, boring and prefer to work in a new place in the Open House style rather than a solid office. Office in the original style which is the same direction that occurs in the Asian region It is predicted that in the future, by 2030, the co-working space business will expand its share in the office building market. 30% from the current market share at around 2%
- Access to Grade A タイ コワーキングスペース offices for rent in a good location, located in Prime Location, is difficult to get and the price is increasing, not less than 2-3 thousand baht per square meter. While some large companies want to cut costs, most co-working spaces are often located in relatively good locations. easy to travel It is another attractive option for large companies as well.
- Another highlight of the co-working space business is Not only being a Space Provider but also answering the question of working lifestyle that has a complete range of Facilities, Utility, Activity, including creating a Network and Connection to connect both people and businesses from a variety of locations. in the same area Make the work of the freelancer group. or even a new generation of children who want to read Switch from going to work or reading in a coffee shop. coming into more co-working spaces.
As for the entry into CPN’s co-working space business Including the business model of CPN will be the same or different from the general co-working space. To what is available in the market?
The same vision of both organizations as an organization that is driven by Experience & Lifestyle Driven, coupled with the fact that CPN wants to drive its business towards being the Center of Life, must be able to answer more than just shopping. Experience, but must become the center of people’s lives And under the cooperation of the two who have the same goal, will cause new innovations in the business to create New Model or New Era in the Office Space business, making work-life from now on will not be boring anymore.
Adding co-working spaces to the portfolio It will become the new puzzle in completing CPN’s Mixed-Use projects, more complete than just having a typical office building space, but will complement other dimensions of Benefit. for more people to work Whether in the dimension of Lifestyle Benefit, Business Benefit, and Experience Benefit by gathering new generations with different lifestyles and ideas as well as being able to draw more new communities into the area Including adding traffic to CPN’s centers, especially during the weekday or during the weekday as well.
