Space as a Service
We believe that commercial real estate was being disrupted, prior to the 2020 corona crisis, through a concept known as space-as-a-service; this is a paradigm shift in the way in which the commercial real estate industry is providing products and services to tenants and is changing the role of commercial landlords from being rent collectors to service providers.
Co-working, co-living, and multiple new retail concepts are all examples of this services model, in which landlords essentially provide a suite of on demand services that enable tenants to easily utilise the space. That entails everything from digital connectivity to furniture, fixtures and even the staffing required to operate their businesses.
For commercial real estate owners, whether in retail, office or industrial real estate, this transformation has changed their fundamentals from the provision of space per square meter to providing service, data and branding. In the future, the value and success of commercial real estate will be dependent on building “user experiences” around their physical assets. Landlords will need to think creatively about ways to use data analytics, to better understand their occupants and customer journeys within the context of how they engage with the physical asset or building.
Our services model has already proven the benefits for tenants, whom we call “clients” as more shift away from signing inflexible long leases on landlord-biased terms. We see serviced business parks offering physical location and convenience, combined with great service and a host of facilities and benefits. Similarly, to the hospitality sector, daily interaction with clients through on-site Park and Community Managers and regular surveys ensure we build insights to truly understand the changing requirements of existing and potential clients. We anticipate the latest trends and we respond accordingly.
Our mission and strategy is to look after our clients as their businesses inevitably transform, shift and grow by providing the right environment through high-quality space and a range of product and service offerings. Our strategy is to expand our geographic footprint and bring new space to the market through both our owned and managed portfolio. Inospace offers better space at lower cost and greater benefits than what the local market has ever seen.
We are also building brand equity as part of our space-as-a-service strategy. Many commercial real estate owners seldom build brand equity and focus on their assets rather than creating a following of loyal clients. We believe in the value of a brand through focusing on client solutions that our competitors do not serve. This strategy of differentiation is key to our market positioning. We constantly communicate our difference to both prospective and existing clients and this positions our brand.
To resonate with our clients, we try to speak their language. We serve several markets, in terms of a product model, and we speak to each segment differently. When we are targeting corporate clients for mega-industrial spaces, our branding and messaging aligns with this market; and the same applies to small businesses who occupy our micro-spaces.