SIMPLIWORK OFFICES
Corporates embrace more flexibility amidst the hybrid work model
About 30% of occupiers are expected to expand their use of flexible office space over the next 12 months, while 17% are likely to consolidate their offices into fewer locations, CBRE said in its latest ‘2024 India Office Occupier Survey’.
Sattva Group targets 85 pc growth in housing sales to Rs 6,500 cr this fiscal: MD Bijay Agarwal
Realty firm Sattva Group is bullish on India's housing market and will launch many projects to achieve 85 per cent growth in sales of residential properties to around Rs 6,500 crore this fiscal, a top company official said. In the 2023-24, Bengaluru-based Sattva Group achieved sales bookings of Rs 3,500 crore.
Godrej & Boyce sells 58,500 sq ft office space in Mumbai’s Vikhroli to Godrej Industries
The office space on the 9th floor has already been leased to managed flexible workspace provider Simpliwork Offices for a period of 60 months until March 31, 2026. This lease will also be transferred to Godrej industries as the new landlord, showed the documents accessed through Propstack.
91Springboard makes appointments to leadership team
91Springboard, a co-working and flexible space operator, has appointed Sameer Singh as the new chief operating officer (COO) and Arjun Sharma as country head - business and growth. The company has also appointed key executives for marketing, supply chain, and strategic sourcing. Singh brings over 20 years of experience in the hospitality industry, including digital transformation and project management.
BofA Leases 1.1 m sq ft Office Space in Chennai
The newly leased property at DLF downtown, Taramani is being leased for its back office operation in India. “The property is in the fitouts phase now and the company is expected to start operation from Q2 2024 for the first phase,” said two people aware of the development.
BofA leases 1.1 m sq ft office space in Chennai
In the first phase, the company will occupy around 710,000 sq ft, while the remaining 390,000 sq ft in part of the second phase expansion option by the multinational bank, as per the registered document. As per the industry estimates, the property can seat 7,000-8,000 employees.
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WeWork India signs lease agreements for co-working centres in Bengaluru, Hyderabad
WeWork India has signed lease agreements for two new buildings -- Manyata Redwood in Bengaluru, and RMZ Spire in Hyderabad -- to open two new centres in the next few months.
EFC India starts 65,000 sq ft co-working centre in Noida to expand biz
Co-working space operator EFC (I) Ltd has entered the Delhi-NCR market by opening a new centre in Noida. The 65,000 square feet centre will house brands such as Tata Capital and Virtuous Transactional Analyst. EFC itself will occupy 25,000 square feet of office space.
Co-working firm Smartworks takes on lease 5.3 lakh sq ft office space in Gurugram, Noida; NCR portfolio crosses 10 lakh sq ft
Co-working firm Smartworks has taken on lease 5.3 lakh square feet office space in Noida and Gurugram to cater to rising demand of flexible work space from corporates. Founded by Neetish Sarda and Harsh Binani, Smartworks provides managed office space to enterprises. It is present in 12 cities with a portfolio of around 80 lakh (8 million) square feet.
Tech companies set to drive up demand for flexible office space
Currently, the technology, BFSI, and R&D sectors have been witnessing healthy activity in the GCC space, with large occupiers either establishing or expanding their India centers, with tech-driven cities such as Bengaluru, Hyderabad, the National Capital Region, and Pune attracting a bulk of the GCCs entering India, it said.
Average rent of office desk in co-working centres to rise 13% this year to Rs 12,500/month: Report
In its latest report 'The Resurgent Flex', property consultant Savills India said that the weighted average rent of a desk stood at Rs 11,100 per month at the end of 2021.
Leasing of flexible workspace by corporates up 59 pc in Apr-Jun to over 28,000 desks
Enterprises had leased 17,691 seats in coworking centres in the April-June quarter of last year across eight major cities -- Delhi-NCR, Mumbai, Pune, Bengaluru, Hyderabad, Chennai, Kolkata and Ahmedabad.
Simpliwork Offices strengthens its presence in South India
Kunal Walia - CEO & Founder, Simpliwork Offices, said, “The office market in Chennai is known for its resilience.Akey market, it accounts for a growing share of India's total Grade A office space stock and demand. Given its strategic location housing multiplemicromarkets, its numerous manufacturing hubs and a strong talent pool, the city has always had the potential to attract occupiers across segments, provided we can develop the requisiteGrade A flex workspace infrastructure.
Tata Realty leases out 1.56 lakh sq ft Guragaon office space to PepsiCo, Johnson Controls
Of the total leased space, Johnson Control, the global leader for smart, healthy and sustainable buildings has leased 85,000-sq-ft office space in Intellion Park. PepsiCo, which is one of world’s largest food and beverage enterprises, has inked an agreement for around 71,000 sq ft space in Intellion Edge.
Unicorns & startups drive demand for flexible offices
Zerodha, Ola Electric, Zomato, Flipkart, and Razorpay are just a few of the well-known startups that have taken up a lot of space in flexible or managed offices.
Gross office leasing in Delhi-NCR jumps over 2.5 fold in Jan-Mar: Report
The gross leasing of office space in Delhi-NCR market jumped more than 2.5 times to 1.8 million square feet during January-March on improved demand from corporates and co-working operators, according to Colliers. Office leasing stood at 7,00,000 square feet in the January-March period of last year.
Companies trying hard to make office premises Covid-safe
Developers, facility management firms devise and implement plans to meet Covid protocols and minimise the chances of virus spread.
Simpliwork offices add Chennai to its portfolio
“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.”
Simpliwork Offices to invest Rs 650 cr over next 2 years to expand biz
Salarpuria Sattva, one of the leading real estate firms in the country with large presence in office market, has 50 per cent stake in Bengaluru-based Simpliwork Offices. Kunal Walia, founder and CEO of Simpliwork, holds the remaining stake.
Simpliwork Offices to invest Rs 650 crores by 2023
The company aims to double its inventory to 6 million sq.ft. by end 2022. Currently, it has 27 centres in India, with Hyderabad being its biggest market.
Big realty developers entering flexible office segment amid Covid uncertainty
Office space operators expect flexible models to expand quickly after the vaccination programme gathers momentum as companies look at options to scale up and down quickly.
Simpliwork Offices plans to raise $50-60 million to expand in India, make overseas forays
Founded in 2018, Simpliwork's current operational portfolio is 2.8 million sq ft across Bengaluru, Delhi-NCR, Mumbai, Pune and Hyderabad. It is also entering Chennai market.
Corporates' demand for flexible workspace up 73 pc in Jan-Jun period
In its latest report for the office market, property consultant Cushman and Wakefield said the total seats leased by enterprises could cross 50,000 during the 2021 calendar year.
Simpliwork leases over 1.85 lakh sq. ft. of space in Gurugram
“We are looking at a much more aggressive expansion post the Covid-19 outbreak as corporates are looking to expand their operations in the managed space in India against incurring capex. Both the facilities are expected to be operational by June 2021 and are currently under fit-outs,” said Kunal Walia, MD, Simpliwork.
Simpliwork leases 3.5 lakh sft in Hyderabad and Bangalore to MNCs
Managed space operator Simpliwork has leased 350,000 sq ft office space across Bengaluru and Hyderabad to large enterprises as corporates look at flexibility at the workspace.
Post-Covid office demand changes to push co-working leases 42% in 2021
Leasing by co-working operators is expected to increase 42% on-year in 2021 to 4.9 million sq ft with shared offices likely to gain greater significance in the post-Covid world, showed a Savills India study.
Co-working space operators are expanding after a brief lull
According to a report by property consultant JLL, irrespective of several short-term disruptions and challenges, increased demand from large enterprises will support the growth of the flexible spaces market to more than 50 million sq ft by 2023.
Flexible office space operator Simpliwork Offices is looking to double up its space in NCR
The company has already signed two spaces in NCR and is in the final stages of signing leases for another two centres, bringing its portfolio to 800,000 sq ft in NCR.
DWF Mindcrest leases 2.80 lakh sq ft office space in Pune
Through this 10-year tenure lease, the company will occupy 1.12 lakh sq ft office space on the two floors of the 7-lakh-sq-ft commercial building in the first phase by January and has an option of taking up an additional 1.68 lakh sq ft space for expansion.
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