CONVENDUM sums up a strong 2023 – with sharply rising turnover compared to 2022, which was also an expansive year with four new openings and high occupancy rates. Demand for CONVENDUM's offices is greater than supply, which is a reason for continued expansion plans in the coming years, primarily in Stockholm and Gothenburg.
In 2022 and 2023, we have focused on new establishments in Stockholm. But we also need to be present in other locations to complement our system for our members. That is why we will open our second facility in Gothenburg in 2024. Having more offices in Gothenburg increases the added value for all our members, says Oscar Limbäck, COO at CONVENDUM.
20 offices with high occupancy rates
Today, CONVENDUM has an area of approximately 79,500 sq m, distributed across around 20 units. 17 of these are in Stockholm and the surrounding area, two are in Gothenburg and one in Palma de Mallorca. In Stockholm's inner city, CONVENDUM has the highest occupancy rate and there are several clear signs that indicate continued high demand in the coming years. CONVENDUM's revenues reached a new record level in 2023 and the occupancy rate is expected to continue to rise in 2024.
Entering a new market and investing in new products for large companies
CONVENDUM has gone from being a coworking operator to a full-service operator in offices, called Office as a Service (OaaS), in 2023. In addition to coworking, the focus has been on renting out private offices for larger business, Big Office supplemented with Office Management, which enables CONVENDUM to manage the entire office operation in the customers' own premises, where one of the first customers is Klarna, which during Q3 handed over the operation of the head office on Sveavägen in Stockholm. Klarna has also signed up for the new Enterprise Membership service for the year, which means that employees are given the opportunity to work in CONVENDUM's premises when necessary. CONVENDUM also launched the Enterprise Consulting service in 2023, which means that CONVENDUM offers free consultation and advice for customers who need help with questions related to how they can best utilize and maximize their office to create an attractive workplace and at the same time reduce their costs.
Continued focus on sustainability and health
A growing sharing economy also places demands on the business community, where coworking is an important way to share both costs and environmental impact. With innovative office solutions, many companies can share hygiene factors such as inventory, electricity and cleaning while not paying for more space than they need. From a sustainability perspective, coworking is the future and CONVENDUM will continue to be at the forefront.
"When we contract new office properties, we look at many sustainability aspects and value the premises accordingly. This includes everything from environmental certifications, energy efficiency, recycling options, nutrition and health, such as a proportion of our offices offering well-equipped gyms to enable a sustainable and healthy lifestyle," says Oscar Limbäck.
An industry where the biggest will become even stronger
Net coworking rental is dominated by a few large players, with CONVENDUM being the largest player. As the large players continue to gain market share, tougher times are likely to await many of the smaller coworking companies. CONVENDUM stands firm and has a business model that has proven to be successful and will continue to accelerate in 2024, within both coworking and Office as a Service.
ABOUT CONVENDUM
CONVENDUM offers modern and sought-after office solutions for small and large companies. CONVENDUM's offering ranges from Coworking, Private Office, Big Office, Exclusive Office, Enterprise Membership to Office Management. Common to the various products is premium offices in combination with activity-based open coworking spaces, lounges, conference centers, cafes, gyms, music studios and showrooms. In addition, corporate housing is also offered.
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