International Workplace Group, or IWG, the world's largest serviced office company by sales revenue, recently announced a strategic partnership with Shui On Workx, the office business management brand of Shanghai-based property developer Shui On Xintiandi, to seize more market shares in the hybrid work sector.

This partnership will empower the local real estate industry, partners and professional users with the hybrid work concept that is sweeping the business world today, promote the development of flexible offices in the Chinese market, and boost high quality development in the commercial office industry, said Edward Hu, managing director of IWG China.

Hybrid working solutions refer to a group of workers that are distributed across various locations, from traditional offices and factory spaces to remote locations, including within employee homes. Such a model offers employees flexibility and choice and has driven new approaches to agility, collaboration and ways of working over the past two decades.

"This strategic cooperation will help our Chinese partner and conventional tenants join the hybrid work model in a phased and measured manner," said Hu, adding it will also allow them better adapt to the new norm of pandemic uncertainty, and gradually transform from the local traditional office model into a hybrid model of "centralized headquarters office plus flexible office distribution plus home office", eventually injecting new momentum for the growth of all stakeholders.

Wang Hong, general manager of commercial management (Office) of Shui On Xintiandi, said the company has been working to broaden the new boundaries of the hybrid work model; the strategic cooperation with IWG on hybrid office services presents an ideal path forward.

IWG, the Switzerland-based company to date has developed more than 20 brands, such as Regus, Spaces and HQ, with 3,500 centers in more than 120 countries and regions globally. Its average occupancy rate of flexible workspaces in China achieved record growth in 2021, surging 21 percent on a yearly basis.

Shui On Xintiandi currently has nearly 2 million sqm of office and retail premises under its management, including its flagship Shanghai Xintiandi, making it one of the largest private commercial property owners and managers in Shanghai. The company provides services for more than 1,100 domestic and foreign companies.