The common definition of space as a service is the change in the real estate model from asset ownership to monetization of access and services that include physical space. A common question about space as a service is how does real estate create higher profitability by providing more service, experience and access, instead of focusing on a product packaged for ownership? The answer is by changing the service model to focus on more personal, flexible and tech-centric solutions. Primary examples include Amazon in the bookstore/retail space, Airbnb in the hotel space and WeWork in the temporary/flexible office space. Designing space as a service is more effective when using a people-centric rather than project-centric approach. The project-centric method primarily focuses on designing the space for renovation or getting people in the space as quickly as possible, potentially without considering the impact on the people using the space. Space as a service takes these concepts and overlays the idea of the spatial solution living and changing over time with the organization. The outdated model of refreshing a space as a point in time capital expenditure without making additional evolutional improvements consistently over time to support a changing organization, especially related to technology, is no longer a viable standard.
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