© Reuters. FILE PHOTO: People work on laptops at large tables in a Spaces office workspace, an IWG brand, in London, UK, Dec. 1, 2021. REUTERS/May James

(Reuters) – Office rental company IWG said Friday it plans to add more than 1,000 new locations globally by 2022, with a particular focus on suburban areas, due to increasing demand for the hybrid work model in a post-pandemic environment.

The London-listed company’s decision comes at a time as office landlords are slowly recovering from the COVID-19 pandemic, with companies shifting to a permanent hybrid model where employees split work between home and office.

“The shift from permanent workspace to flex is now irreversible and the company will accelerate its growth next year alone by adding 1,000 locations,” said Chief Executive Officer Mark Dixon at the MIPIM international real estate conference.

The owner of the Spaces and Regus brands has approximately 3,500 buildings in more than 120 countries and counts 83% of Fortune 500 companies among its global customer base. However, IWG has not provided a net addition of its centers for the year, also taking into account any closures.

IWG’s customers can access the company’s extensive network of locations, with a variety of plans for customers to choose from, giving employees much-needed flexibility geographically as well.

The Swiss-based company said earlier this month it would merge its digital assets with flexible workspace platform The Instant Group as office space providers capitalize on the hybrid work trend.

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This post WeWork rival IWG to add 1,000+ locations as companies transition to hybrid work model was original published at “https://www.investing.com/news/stock-market-news/wework-rival-iwg-to-add-over-1000-locations-as-firms-shift-to-hybrid-work-model-2787523”

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