The demand for co-working spaces has decreased. As Terminal Director Gino Dolin stated, the number of employees working for both international companies and locals has decreased.
As a result, Terminal is not planning to expand at this stage and is developing management services for some of its branches.
“Demand has decreased, the number of local customers has worsened. In the light of current events, international companies have left, and those who have remained are trying to reduce costs as much as possible. Today, the situation is not favorable.
The pandemic had a good effect on co-working spaces both in Georgia and globally. Then the Russian-Ukrainian war started and the influx of migrants increased the demand, but today some have already left, some have rented space and opened their own. The same trend is in Batumi.
Given the existing trends, the expansion plans have been changed. We plan to develop management services, which means that three branches will be handed over to one company and will provide management services, while the remaining four will have a shared workspace. We see that the same trend is happening in Europe as in our country and many of them are switching to the management format.
"Prices are regulated, there are spaces for both 300 GEL and 500 GEL, however, there are only a few of international standards on the market, and despite the increase in their number, we do not consider most of them to be competitors," said Dolin.
