HOW WAS THE YEAR 2021 FOR THE COMPANY?
Our offline business (Co-working, Co-living & Events) stayed afloat because we understood how to re-imagine shared spaces that balance privacy and community spaces, also keeping in mind the safety of members. The real pivot was made when we kicked off our online business last year - A One-Stop Creative Shop that looks at micro-level implementation of social currency across different verticals. While building our company is the key goal, nurturing our community and involving them in our ventures has been of utmost importance.
WHAT IS THE OUTLOOK FOR THE COWORKING/COLIVING SECTOR FOR THE YEAR 2022?
The outlook for both sectors in 2022 is massively positive! Real-Estate-As-A-Service is definitely the way forward. But for this transition to take place smoothly, it will require a lot of technology devices, especially IoT sensors that can be fitted across the space. Everything will be on-demand – costing, billing, availability and of course, instant gratification.
The Hub Bengaluru has been in the co-living space for 5 years and was one of the firsts to pioneer this space. We have built it around the needs of our members, which has always been evolving. People understand the value of being able to live and work at the same place – having it sorted as part of their compensation package. Co-living will become a great tool for HR to deploy – thus allowing companies to take better care of employees’ health and support them.
WHAT ARE YOUR EXPECTATIONS FROM THE UPCOMING BUDGET?
The Government is now acknowledging the fact that there is a new way in which people interact with spaces. There is a big difference in consumer consumption habits - from 5-year leases to 1 day passes. We are moving towards an on-demand economy. But policy needs to catch up with the same, for the Government to provide better support for innovation in the ecosystem.
SPACE PROVIDERS THAT ADOPT TECH THAT IS EASILY SCALABLE AND ALSO ALLOWS THEM THAT LEVEL OF MICRO-PRECISION WILL BE AHEAD IN THIS RACE. DYNAMIC PRICING WILL ALSO HAVE A HUGE ROLE TO PLAY IN THE NEAR FUTURE.
