Navigating the Future of Office Spaces
Insights from Ila Milambo on The Money Show
Office spaces are changing fast, and Ila D. Milambo , Senior Transaction Manager at Galetti Corporate Real Estate Advisory, recently shared his thoughts on 702/Cape Talk’s The Money Showabout what’s happening in the commercial real estate world.
Moving from Traditional to Flexible Workspaces
Ila highlighted how the office sector has changed significantly since 2019, particularly with the rise of digital work environments.
“We’ve seen a lot of businesses embracing flexible workspaces, which has driven the demand for such arrangements,” Ila explained.
However, he quickly pointed out that traditional office spaces, especially premium-grade offices, are still in demand.
The Shift to Rosebank and Waterfall
One of the most notable trends Ila discussed is the shift in demand from Sandton to areas like Rosebank and Waterfall. Noting that new developments and the relocation of global companies have made these areas prime spots for business. While Sandton faces significant vacancies, Rosebank enjoys almost full occupancy, demonstrating how demand follows trends and innovation.
Co-Working Spaces: More Than Just a Trend
Ila also talked about the growing popularity of co-working spaces, where people from different companies work in the same area. He acknowledged that these spaces boost collaboration and creativity.
“Co-working spaces started for small businesses, but big companies are now using them too,” Ila noted.
These spaces encourage people to connect, share ideas, and work together, with amenities like shared coffee areas and meeting rooms.
Innovations in Office Spaces
Ila wrapped up by highlighting new innovations in office spaces, especially in modern buildings. From adding coffee shops to using green technologies, landlords are finding creative ways to attract tenants and meet the needs of today’s businesses.
“There’s a lot of creativity happening in the property sector right now,” Ila concluded.
As businesses navigate the future of office spaces, insights like these from industry experts are essential. If you’re thinking about how to update your office strategy, Ila’s advice is clear: Be flexible, keep up with trends, and always be ready to innovate.
