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Jan 20, 2020, 04.31 AM IST

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Commercial realty demand scales new record of 69.4 million sq ft in 2019, up 40%

While registering 40% on-year growth in leasing, preleasing ...

Co-working to lead growth in 2020 in NCR

Co-working space has massive demand, ABL said, citing data from the second quarter of 2019 when it s...

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  • In the coworking space, top seven operators - Cowrks, WeWork India, Awfis, Regus, Smartworks, 91springboard and OYO Workspaces have more than 350 centres across cities in the country, Anarock Property Consultant managing director Anuj Puri said.

    Hyderabad has reported an all-time high of 1.2 million square metres (12.8 million square feet) in office segment transactions in 2019, recording a 82% growth over the previous year, said a report of global property consultant Knight Frank.

    From finding it difficult to convince companies on the benefits of operating in a coworking space to having Pepsi operating from one of its ...

    After the WeWork debacle, there is a realisation that coworking spaces cannot merely chase valuations. Terming coworking companies as operat...

    In its Roseate House hotel in Aerocity, the luxury hospitality brand has earmarked 30,000 sq ft of space for offer to individuals and companies on requirement basis, Ankur Bhatia, Bird Group’s executive director, said.

    The strong expansion of IT/ITeS (42 per cent of overall leasing) and co-working operators (14 per cent of overall leasing) in cities with strong fundamentals and planned infrastructure improvements has led the strong growth in demand so far.

    Lee Elliott, research head (occupier services), Knight Frank, said better productivity and lower attrition is being achieved through office space. Knight Frank pegs real estate at 15% and people at 55% of total operational costs for any company. “The focus is clearly on retention. You can’t push more and more people into the same space,” said Elliott.

    This is the fifth facility for the company in Pune and will be operational by 2021, the company said. It already has a portfolio of 6,000 seats in the city. According to reports, the second largest single- location deal in this space was struck by WeWorks which picked up 1.22 lakh sqft space in Pune.

    myHQ said it plans to utilise the funds to expand into new cities, introduce new product offerings and invest in their technology infrastructure.

    Large players in India in talks with institutional investors to raise money to fund expansions. Leasing activity rose by more than 30% annually, crossing 47 million sq. ft. during January-September this year, says CBRE South Asia Q3 office report.

    India is one of the largest flexible workplace markets in the world. The consultant has estimated the global flexible workspace inventory at about 125 million sq ft, of which nearly 27 million sq ft is located in India. There are 1,000 operational coworking centres, with a capacity of over 4 lakh seats, across top 6 cities -- Delhi-NCR, Bengaluru, Mumbai, Pune, Hyderabad & Chennai.

    315 Work Avenue, currently manages around 10,000 seats spread over 5,00,000 sq ft office space across multiple prime locations in Bangalore. The company is now looking at further expansion in Hyderabad, Pune & Mumbai while further strengthening presence in Bangalore. It plans to take the total number of seats to 25,000 by next year.

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