Collaboration spaces refer to work as well as recreational areas. Demand for flexible office space has been growing at a healthy pace since the pandemic. According to the India arm of US-based Upflex, a hybrid booking platform with the largest global network of flexible workspaces, the share of this segment in office space take-up has increased from just 7% in FY20 to 21% in FY23. This is expected to reach 27% this fiscal year, as per Upflex's estimates.

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