Office leases decline

TRYNESS TEMBO
Lusaka
REGUS, a real estate firm, says the traditional commercial office market is experiencing a rapid decline because companies are terminating their long-term commercial office leases at an unprecedented rate.
The company is a brand under International Workplace Group (IWG).
Regus sales manager for southern Africa Mulenga Mumba said the long-term leases are often being replaced with shorter-term agreements at a reduced amount of fixed space.
Mr Mumba, however, said companies of all sizes have continued to commit to the hybrid model for the long term.
He said the flex space market is growing rapidly and that over the coming years, growth will continue as more and more long-term leases come up for renewal..https://enews.daily-mail.co.zm/welcome/home