The flexible office market in Israel has not only stabilized, but it has emerged from the pandemic in a stronger position than ever. Being the first country in the world to start vaccinating, this accelerated its reopening and Israel is quickly regaining a sense of normality.
- Key Findings
- Flex workspace is becoming more mainstream in the wake of a tech boom
- Scale-ups rather than start-ups are driving demand for flex space
- The tech boom in Israel is strengthening the flex market, but investment in supply is needed to keep up with demand…
Companies are returning to the office, but many are adopting a more flexible approach with an emphasis on employee demands. Flexible workplaces will play a key role in enabling companies to achieve a successful hybrid work model, augmenting the flex industry in Israel.
The pandemic has transformed our need and reliance on technology, a boon for Israel, which has long been a global hotspot for tech companies. 2021 was a record year for Israeli tech, with 136% growth in equity investments, 71% above the global average. This boom is transforming the economy and has had a positive effect on the real estate market in Israel.
Tech companies are ahead of the curve in adopting hybrid working models. Israel’s Unicorn club saw the addition of 33 tech companies during the first three quarters of 2021, which is driving up demand from tech companies with a third of all demand coming from tech companies in the past year.
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