Urban Vault to add 10,000 co-working seats in Bengaluru

The average rental cost per seat will be Rs 10,000, the company added.

Managed working space provider Urban Vault will add 10,000 desks in Bengaluru within the current quarter, the company said on October 25.

This will include 3,000 seats in Sarjapur Road and Hebbal respectively, 2,000 seats in Koramangala, and 1,000 seats in HSR Layout. The average rental cost per seat will be Rs 10,000, the company further noted.

With the addition of 10,000 desks, Urban Vault's total portfolio will reach 25,000 desks in Bengaluru. The number of centres will increase to 45 and the total area under the portfolio will reach 15 lakh square feet. Additionally, the company plans to enter markets in Delhi, Hyderabad, and Pune in the coming year.

"Flexible workspace has become a preferred option for corporates looking to expand their businesses. Even those companies which are accustomed to traditional office setups are opting not to renew their lease agreements, instead transitioning towards co-working spaces," Urban Vault Co-founder and CEO Amal Mishra said.