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Workland to invest EUR 4.5 mln in office spaces in Baltics

BC, Vilnius, 05.06.2018.Print version
Workland Group, a company offering fully serviced shared office spaces, is set to invest 4.5 million euros in the Baltic countries in the coming few years, of which Estonia will get a third, informs LETA/BNS.

"At the moment, we have three successful fully serviced business centers in the heart of Tallinn, Riga and Vilnius. In July, we will expand our operations in Tallinn, opening a new center in a historic building near Freedom Square, and in autumn, a new center will be added in Vilnius," Workland Group chairman of the management board Indrek Haal said in a press release.

Workland Group has approved 4.5 million euros in investments in the three Baltic countries over the next few years, with the goal to have at least ten centers, Haal said.

The sharing economy based office market is growing at an annual rate of 16 percent, Igor Beloborodov, development manager at Workland, said. He said that in the following years, the impact of this growth will be seen in Estonia as well.

"The reason why the sector is gaining popularity today is the rapid growth in the number of entrepreneurs and freelancers. At the end of 2017, nearly 40 percent of the U.S. workforce was freelance, and by the year 2027, their share is expected to grow to more than half," Beloborodov said.

Workland is a sharing economy based full service office established in 2016, with centers located in Tallinn, Riga and Vilnius.

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