FLEXIBLE SPACE REPORTS KAZAKHSTAN Q1 2021
Cushman & Wakefield has published the latest Flexible Space reports on the cities of Almaty and Nur-Sultan (Astana).
Almaty: A year has already passed since the first official coronavirus infection was registered in the country and it is now clear that the flexible spaces that are currently working have learned to operate in the new normal. This is reflected in the figures. There have been no closures in the first quarter of 2021, and 2 flexible office spaces opening operations during the quarter. However, over the course of the last year, a total of 8 flexible space operators have completely or temporarily shut down. Most can attribute their closures to the effects of the pandemic, while others have changed their strategy of operations, changing their core services.
Nur-Sultan: The flexible space market in the city was immensely influenced by the COVID-19 pandemic. During and following the aftermath of the strict lockdowns and the subsequent reduction in demand for such services, 4 flexible space operators shut down over the course of the year. This situation is in stark difference from what the market saw coming into 2020, when a total of 9 flexible space operations were opened in the span of 3 years, from 2018 to 2020 (including spaces that now are closed). Our market research indicates that most of the current closures are linked to either repurposing of the workspace or negative effects of the restrictive measures.
Discover flexible space market performance by contacting the research department.