{"id":6416,"date":"2025-05-21T03:15:00","date_gmt":"2025-05-21T08:15:00","guid":{"rendered":"https:\/\/binswanger.com.pe\/tendencias\/?p=6416"},"modified":"2025-05-19T15:26:09","modified_gmt":"2025-05-19T20:26:09","slug":"the-battle-for-coworking-comunal-is-one-step-away-from-surprassing-wework-but-how","status":"publish","type":"post","link":"https:\/\/binswanger.com.pe\/tendencias\/the-battle-for-coworking-comunal-is-one-step-away-from-surprassing-wework-but-how\/","title":{"rendered":"The battle for coworking: Comunal is one step away from surprassing WeWork. But how?"},"content":{"rendered":"\n

Binswanger states, for the first time, a local company is about to surpass a multinational in terms of square meters within the coworking market. What\u2019s driving this shift?<\/em><\/p>\n\n\n

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As of the end of April, the coworking market in the capital shows signs of near-full recovery, reaching 96% of pre-pandemic levels, according to the latest report by Binswanger.<\/a><\/strong> Currently, the available stock is around 122,000 square meters (m\u00b2), dominated by three major players: WeWork, Comunal, and IWG (which operates the Regus, Spaces, and HQ brands), who together account for more than 80% of the total market. In this context, what changes and opportunities are emerging in this segment?<\/p>\n\n\n\n

\u201cIn recent years, coworking has experienced accelerated growth, driven by the strong reception from companies seeking more flexible and efficient operating models,\u201d explained Max Medina, research manager at Binswanger.<\/strong> This dynamism has triggered a reshuffling in the sector’s leadership heading into 2025, especially with the retreat of one of its main players.<\/p>\n\n\n\n

WeWork, which before the pandemic had eight locations in areas such as San Isidro, Miraflores, and Surco, has reduced its operations to just four sites. One of the most recent closures was the Jockey Plaza location, which prompted the mall to develop its own corporate space. \u201cThe shopping center decided to implement its own coworking space under the JWork brand, occupying part of the facilities that previously belonged to WeWork,\u201d Medina detailed.<\/strong><\/p>\n\n\n\n

In contrast, the Peruvian company Comunal expanded its presence. How? It went from nine locations before the pandemic to 16 operational locations as of April this year, marking its entry for the first time into San Borja, a strategic district due to its connectivity and central location. There, it plans to operate over 3,000 m\u00b2, which will allow it to match or even surpass WeWork in market share. \u201cWith its entry into San Borja, Comunal consolidates itself as one of the main coworking operators,\u201d said Medina.<\/strong><\/p>\n\n\n\n

At the same time, another player strengthening its presence is IWG. Initially represented by Regus, its more formal and corporate brand, the firm expanded its portfolio with Spaces, a more modern-style option, and HQ, aimed at more accessible and smaller-sized spaces. Currently, IWG has 14 locations in Lima, including a recent opening in Ate, a district that breaks the traditional logic of coworking being located in premium zones. This site, located in Real Plaza Puruchuco, offers between 500 m\u00b2 and 600 m\u00b2 and aims to serve the demand from companies in the eastern and southern parts of Lima.<\/p>\n\n\n\n

A relevant detail is that this operator is also exploring new areas for expansion, including Callao and the south of Lima. \u201cThey are currently in an evaluation phase, considering areas from Villa El Salvador to Asia. They are analyzing options outside the traditional market,\u201d Medina specified.<\/strong><\/p>\n\n\n\n

The report also highlights that alongside WeWork, Comunal, and IWG, another company gaining ground in the coworking market is Swiss Rent, part of the Swiss Capital group, which has investments across various sectors, including real estate. Although its presence was more discreet until recently, it now operates six locations in areas such as San Isidro Empresarial, Surco, and the border between Lince and San Isidro.<\/p>\n\n\n\n

Adding to this panorama is a trend that has gained momentum in 2024: the direct entry of real estate property owners into the coworking business, bypassing intermediaries. Among the most notable examples is Urbanova, which launched its own space under the Flex brand, with an area of 4,000 m\u00b2. Similarly, Invermex, the owner of a building in San Isidro Financiero, also implemented its own proposal. Another case is WorkTown, which occupied the spaces left vacant by WeWork on Juan de Arona Avenue (San Isidro). Also joining this group is Jockey Plaza, which recently created its JWork brand.<\/p>\n\n\n\n

\u201cAlthough these operators are still smaller in scale compared to the sector\u2019s leaders, their emergence confirms a transformation in the traditional business model, where owners now seek to directly capitalize on their assets,\u201d said Medina.<\/strong><\/p>\n\n\n\n

Is Comunal catching up to WeWork?<\/h5>\n\n\n\n

Comunal\u2019s sustained growth in the number of locations has transformed the competitive landscape of the coworking market, particularly in terms of square meter share. A few years ago, WeWork held between 30% and 35% of the total available space, while Comunal barely reached between 15% and 17%. Today, the two companies are practically tied. According to the latest Binswanger report, Comunal slightly surpasses WeWork, with a market share of 26.14% compared to 25.98%\u2014a minimal difference.<\/p>\n\n\n\n

The possibility of a local firm leading the market in terms of available square meters is uncommon in other countries, where international operators tend to dominate. \u201cIn Peru\u2019s case, Comunal stands out as an exception,\u201d said Medina.<\/strong> Thus, if the Peruvian firm manages to secure a new location, it could consolidate itself as the absolute leader. \u201cThey\u2019re hot on WeWork\u2019s heels,\u201d he added.<\/p>\n\n\n\n

Are new locations coming for Comunal? Regarding this, the Binswanger representative indicated that the operator maintains an active expansion strategy and is continuously evaluating locations to grow its network.<\/strong><\/p>\n\n\n\n

Stock by district<\/h5>\n\n\n\n

The Binswanger report revealed that, to date, 40 companies currently operate a total of 80 shared workspace locations. San Isidro stands out as the district with the largest offering, concentrating 49% of total inventory, with 59,651 m\u00b2 available. It is followed by Surco with 21,814 m\u00b2, Miraflores with 20,888 m\u00b2, and other districts with 19,380 m\u00b2.<\/p>\n\n\n\n

Furthermore, the analysis indicated that this market remains primarily concentrated in Class A office buildings, which represent 68% of total stock, with 83,266 m\u00b2 available. This is followed by Class B properties with 22,903 m\u00b2 and other types\u2014such as houses, shopping centers, and mixed-use buildings\u2014which add up to 15,964 m\u00b2.<\/p>\n\n\n\n

In terms of supply evolution, the sector has shown steady recovery after three consecutive years of negative figures between 2020 and 2022. In 2023, net inventory grew by 9,000 m\u00b2, and in just the first four months of 2025, an additional 6,000 m\u00b2 have already been added. \u201cBy the end of 2025, we expect at least 10,000 m\u00b2 to be added,\u201d Medina emphasized.<\/strong><\/p>\n\n\n\n

Source: Diario Gesti\u00f3n<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Binswanger states, for the first time, a local company is about to surpass a multinational in terms of square meters within the coworking market. What\u2019s driving this shift? As of the end of April, the coworking market in the capital shows signs of near-full recovery, reaching 96% of pre-pandemic levels, according to the latest report […]<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[183,135],"tags":[140,141,158],"class_list":["post-6416","post","type-post","status-publish","format-standard","hentry","category-estudios-investigacion","category-oficinas-coworking","tag-coworking","tag-oficinas","tag-reporte-inmobiliario"],"yoast_head":"\nCoworking Battle: Comunal nears overtaking WeWork<\/title>\n<meta name=\"description\" content=\"Coworking in Lima recovers to 96% of pre-pandemic levels, with Comunal and WeWork leading the market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/binswanger.com.pe\/tendencias\/the-battle-for-coworking-comunal-is-one-step-away-from-surprassing-wework-but-how\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coworking Battle: Comunal nears overtaking WeWork\" \/>\n<meta property=\"og:description\" content=\"Coworking in Lima recovers to 96% of pre-pandemic levels, with Comunal and WeWork leading the market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/binswanger.com.pe\/tendencias\/the-battle-for-coworking-comunal-is-one-step-away-from-surprassing-wework-but-how\/\" \/>\n<meta property=\"og:site_name\" content=\"Binswanger Per\u00fa\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-21T08:15:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/binswanger.com.pe\/tendencias\/wp-content\/uploads\/2024\/10\/20220227.png\" \/>\n\t<meta property=\"og:image:width\" content=\"683\" \/>\n\t<meta property=\"og:image:height\" content=\"386\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Diario Gesti\u00f3n\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"Diario Gesti\u00f3n\" \/>\n\t<meta name=\"twitter:label2\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/binswanger.com.pe\\\/tendencias\\\/the-battle-for-coworking-comunal-is-one-step-away-from-surprassing-wework-but-how\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/binswanger.com.pe\\\/tendencias\\\/the-battle-for-coworking-comunal-is-one-step-away-from-surprassing-wework-but-how\\\/\"},\"author\":{\"name\":\"Diario Gesti\u00f3n\",\"@id\":\"https:\\\/\\\/binswanger.com.pe\\\/tendencias\\\/#\\\/schema\\\/person\\\/0fbaa0c77c89027e8d842ca76de99d9a\"},\"headline\":\"The battle for coworking: Comunal is one step away from surprassing WeWork. 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