CONVENDUM concludes a strong 2023 with a significant increase in revenue compared to 2022, which was also an expansive year with four new establishments and high occupancy rates. The demand for CONVENDUM’s offices exceeds supply, which is a key reason for continued expansion plans in the coming years, primarily in Stockholm and Gothenburg.
— In 2022 and 2023, we focused on new establishments in Stockholm. However, we must also have a presence in other locations 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 of CONVENDUM.
20 offices with high occupancy rates Today, CONVENDUM has approximately 79,500 square meters of space across around 20 locations. Seventeen of these are in and around Stockholm, two are in Gothenburg, and one is in Palma de Mallorca. CONVENDUM has the highest occupancy rate in central Stockholm, and there are several clear indicators of continued strong demand in the coming years. CONVENDUM’s revenues reached a new record level in 2023, and occupancy rates are expected to continue rising in 2024.
Entering a new market and launching new products for large companies In 2023, CONVENDUM transitioned from being a coworking player to a full-service office provider, known as Office as a Service (OaaS). In addition to coworking, the focus has been on renting private offices for larger companies, known as Big Office, complemented by Office Management, which allows CONVENDUM to manage the entire office operations in the customers' own premises. One of the first clients is Klarna, which in Q3 transferred the management of its headquarters on Sveavägen in Stockholm. Klarna has also signed up for the new service of the year, Enterprise Membership, which allows employees to work in CONVENDUM’s spaces as needed. CONVENDUM also launched the service Enterprise Consulting in 2023, offering free consultation and advice to customers needing help with maximizing their office space to create an attractive workplace while reducing costs.
Continued focus on sustainability and health A growing sharing economy also imposes demands on businesses, with coworking being an important way to share both costs and environmental impact. With innovative office solutions, many companies can share essential resources like furniture, electricity, and cleaning while only paying for the space they need. From a sustainability perspective, coworking is the future, and CONVENDUM will continue to lead the way.
— When we contract new office properties, we consider many sustainability aspects and evaluate the spaces accordingly. This includes everything from environmental certifications, energy efficiency, reuse opportunities, to diet and health, such as ensuring a portion of our offices offer well-equipped gyms to enable a sustainable and healthy lifestyle, says Oscar Limbäck.
An industry where the biggest will get even stronger Net leasing within coworking is dominated by a few large players, with CONVENDUM being the biggest. As these major players continue to gain market share, tougher times likely await many smaller coworking companies. CONVENDUM stands strong with a business model that has proven successful and will continue to accelerate in 2024, both in coworking and Office as a Service.
About CONVENDUM
CONVENDUM offers modern and in-demand office solutions for small and large businesses. CONVENDUM’s offering ranges from Coworking, Private Office, Grand Office, Big Office, Exclusive Office, Enterprise Membership to Office Management. Common to the different products is premium offices combined with activity-based open coworking spaces, lounges, conference centers, cafes, gyms, music studios, and showrooms.
