In another sign that the flex office space is well-positioned for the post-COVID world, IWG has inked a deal with Nippon Telegraph and Telephone to give the Japanese telecommunications group access to its offices around the world, according to The Financial Times.

This comes on the heels of an agreement to provide space to Standard Chartered employees with space on a 12-month trial, The Financial Times also reported.

It's apparent that flex space will be incorporated into many companies' office strategies once the health crisis passes. What is less sure who will be the main players in this post-pandemic environment. Many of these companies have struggled in the past year to meet the obligations of the long-term leases they signed when it appeared this office niche was poised for strong growth. Many analysts now expect revenue-sharing models to be more widely adopted going forward as a result.