CONVENTION sums up a strong 2023 – with sharply rising turnover compared to 2022, which was also an expansive year with four new establishments and high occupancy figures. The demand for CONVENDUM's offices is greater than the supply, which is a reason for continued expansion plans in the coming years, mainly in Stockholm and Gothenburg.
During 2022 and 2023, we have focused on new establishments in Stockholm. But we also need to be in other places to complement our system for our members. Therefore, in 2024 we will open our second facility in Gothenburg. Having more offices in Gothenburg increases the added value for all our members, says Oscar Limbäck, COO at CONVENDUM.
20 offices with a high occupancy rate
Today, CONVENDUM has an area of approximately 79,500 square meters, spread over about 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 show continued high demand in the coming years. During 2023, CONVENDUM's revenue reached a new record level, and before 2024 the rental rate is expected to continue upwards.
Entering a new market and investing in new products for large companies
In 2023, CONVENDUM has gone from being a coworking actor to a full-service actor in offices, called Office as a Service (OaaS). In addition to coworking, the focus has been on the rental of private offices for larger companies, 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, who handed over the operation of the head office during Q3 on Sveavägen in Stockholm. Klarna has also signed up for the Enterprise Membership service, new for the year, which means that employees are given the opportunity to work in CONVENDUMs premises if necessary. CONVENDUM also launched the Enterprise Consulting service in 2023, which means that CONVENDUM offers a 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 business, 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 fixtures, electricity and cleaning while not paying for more space than they need. From a sustainability perspective, coworking is the future and CONVENTION will continue to be at the forefront.
— When we contract new office properties, we look at many aspects of sustainability and value the premises accordingly. It's about everything from environmental certifications, energy efficiency, reusability, nutrition and health, such as a percentage 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
The net rental in coworking is dominated by a few of the big players, with CONVENDUM being the biggest player. As the big players continue to gain market share, tougher times are likely to lie ahead for many of the smaller coworking companies. CONVENTION 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 THE CONVENTION
CONVENDUM offers modern and in demand office solutions for small and large companies. CONVENDUM's offer ranges from Coworking, Private Office, Big Office, Exclusive Office, Enterprise Membership to Office Management. Common to the various products are premium offices in combination with activity-based open coworking spaces, lounges, conference centers, cafes, gyms, music studios and showrooms. In addition, company housing is also offered.
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