Afi Development launches the operator of flexible offices Afi Flex
Afi Development Lev Levaeva will transfer part of the space in his business centers to the AFI FLEX flexible office operator. At the first stage, we will talk about 9.2 thousand square meters. m in « Afa Gallery » at the Belorussian station. Despite the low vacancy, it is not easy to hand over objects without decoration now. The costs of it are considered by potential tenants as a risk factor.
AFI Development Lev Levaeva launches the AFI FLEX flexible offices operator, who will take up the management and rental of space for a request from tenants in the objects of the developer. The Kommersant was told about this in the company itself. At the first stage, AFI FLEX will launch a project for 1.3 thousand jobs (9.2 thousand square meters) at the Afi Gallery business center (21.9 thousand square meters) at the Belorussky station in the center of Moscow. Earlier, these areas were planned to be transferred to another operator of flexible Multispace offices, but this transaction probably did not take place (See “Kommersant” dated November 11, 2024). PRIDEX (owns multispace) Kommersant reported that the company will focus on the development of more promising sites in Moscow.
Afi Development is engaged in the construction of residential and commercial facilities. In the portfolio of the Afimall City Torg Center in Moscow City, Afi Square business center in the center of Moscow, the Plaza Spa sanatorium in Kislovodsk, etc. The current construction volume is 108 thousand square meters. m, follows from the data « Our Dom.rf ». According to Forbes, in 2024 the holding income from leasing objects increased by 26% year by year, to $ 120 million.
The format of flexible offices is considered promising. According to the IBC Real Estate, in 2024 the volume of transactions with them amounted to 15 thousand jobs, adding 30% a year to the year. The largest agreements included a lease of 24.6 thousand square meters. m in the Iskra-Park business center in the north of Moscow by the T-Bank and 5.4 thousand square meters. M Mosbirzhi in Gazeta Lane at the Kremlin. The share of free jobs in the flexible offices market for a year decreased by 8.5 percentage points (p.), To 4%, consultants calculated.
Nikoliers note that the demand for flexible offices is growing in the context of low vacancies in the usual market. According to the results of 2024, 4.8% of the space was empty in the business centers of Moscow, by 3.3 p. The absorption volume increased by 9%, to 2.18 million square meters. m.
But not all developers manage to quickly pass their objects.
Only 70% of the space is now employed in the Afa Gallery, they say in the company. Code’s network of the CODE service network, Gurgen Shecoyan, does not exclude that the launch of the operator of flexible offices will help fill out the remaining volume. Creating a product, the company expands the portrait of the tenant and fills its area faster, he explains. Service offices have their own operators, for example, Capital Group and O1 Properties.
Even in conditions of a shortage of liquid offices, tenants are reluctant to choose rooms without decoration, trying to avoid additional financial and time costs, says Ekaterina Belova, head of the IBC Real Estate office premises. She notes that last year 1.2 million square meters were handed over in Moscow in total. m offices, of which 1 million square meters. m, or 83% of the volume, came on the premises with the finish. This is dictated by the constant increase in the cost of repairing premises. If two years ago, the finish and installation of engineering systems cost 65 thousand rubles. per 1 sq. m, now the minimum threshold exceeds 90 thousand rubles, said Ekaterina Newman, CEO of Q1 Group (controls construction projects).
The increase in costs remains a restraining factor for the entire office market. Developers and flexible spaces and operators prefer to limit the volume of new speculative sites, preferring Built-to-Suit agreements when the premises are prepared for the needs of a particular customer, says Valentin Kusov, deputy director of the Nikoliers office real estate department. In NF Group, they are waiting for 14 new service offices with an area of 63.4 thousand square meters in 2025. m. Of these, four sites for 26.6 thousand square meters. M-Built-to-Suit projects.
