Simpliwork offices add Chennai to its portfolio

Simpliwork, an outsourced office provider, has expanded their footprint to Chennai and has leased 64,000 sq. ft. in Chennai to SBI Cards.

The office is housed in a development by K. Raheja Corp will offer premium outsourced offices to the national credit card and payment solutions provider,said Kunal Walia founder and CEO, Simpliwork.

“2021 has been a milestone year for Simpliwork in terms of business growth. As an industry leader, we have been able to offer agile solutions vis-à-vis world-class offices across leading markets. Chennai, our latest addition, is a strong economic centre. The city offers immense potential that attracts large enterprises across industries. Simpliwork, with its supply of Grade A flex offices, is looking to capitalise on this trend and set new benchmarks in the outsourced office sector.”

This transaction was facilitated by Jones Lang LaSalle, one of India’s leading international property consultants.

Simpliwork, headquartered in Bengaluru, plans to capitalize on accelerated demand for flex offices amongst large corporates, and targets to double its inventory across India to 6 mn sq. ft by end 2022.

“While the Indian flex space market has seen monumental growth over the last few years, what is pertinent to note is that the current flex market penetration in total office stock stands at approximately 3.5%. We are still catching up with mature

markets across the globe, where the market penetration of flex spaces is over the 5% mark,” said Rahul Arora, Head of Office leasing advisory (India) JLL said.

According to JLL, India’s average penetration rate for the top seven cities could reach around the 4.0-4.5% mark over the next two years. “There is still substantial room for growth in the flex segment, and buoyed by the demand for flexible, fully amenitized, and collaborative work environments, this segment is only expected to see a significant upswing,” said Arora.

Over the next 2 years, Simpliwork plans to invest Rs 650 crore in creating Grade A offices for leading corporates across the country. In the current financial year. Simpliwork has registered a 5x growth in turnover as compared to last year.

Partnered by Salarpuria Sattva, Simpliwork offers built-to-suit, dedicated outsourced office solutions for a company’s primary space or growth needs. In other words. Simpliwork has designed and delivered over 3.4 million sq. ft. of space across Grade A locations in Bengaluru, Mumbai, Delhi, Gurgaon, Hyderabad, Pune and Chennai.

Simpliwork Offices clients include the likes of Mastercard, Siemens Healthcare, SBI Cards, Arcesium, OLX, GlobalData, and Lufthansa, among others.

Currently, it has 27 centres in India, with Hyderabad being its biggest market followed by Chennai.