Office leasing activity rose by over 30 percent annually, crossing 47 million sq ft during 2019 in the first nine months of 2019.
REIT-able office stock in the country to garner $35 bn of investments in near term
The launch of the centre will inch the company closer to its vision of 2,00,000 seats in 15 cities in the next 36 months.
While the general perception is that the cost of a seat at a co-working space exceeds the cost of renting an office space, the numbers tell a different story.
Hyderabad tops the chart in net absorption and new completions of office space, registering a 36 percent and 44 percent market share respectively.
The company is considering introducing three global brands - HQ Global Workspaces, Signature by Regus and a CXO club to India next year
Bengaluru leads the flexible workspace stock with around 6 million sq ft
Co-working operators are venturing into tier-2 cities such as Jaipur, Goa, Chandigarh and Lucknow, and smaller cities are likely to see further growth as they are witnessing a spurt of start-ups and incubation spaces
Co-working as a business model is getting all the attention. But Oyo has to deal with a tough challenge from the likes of WeWork
Office space supply and transaction volume at an all-time high; Co-working spaces account for 15% of volume in first half of 2019
The company hopes to raise investment worth $30 million for expansion. Going forward, 10 to 15 percent of its new supply would be located in malls, warehouses and institutions.
The new centre is expected to be operational in June 2019.
With a strong start across markets in 2019, leasing activity this year is expected to gain momentum with the already high demand for quality office spaces.
Garage Society plans to open at least four new workspaces across Gurugram, Delhi and Noida.
Since its inception in April 2016, Smartworks has been aggressively expanding its footprint across key cities in India due to the growing demand for agile workspaces.
Alignment of GST and personal income tax to boost home ownership is an option that government may consider exercising in the upcoming Budget, said realtors.
From warehousing, co-working to co-living, there are a plethora of options that offer healthy returns.
Preleasing and large deals set a new trend in 2018. Expansionary activity by occupiers led to the resurgence of large deals
Overall development in the housing sector is expected to be led by southern region.
They need to have their own set-up that provides the same level of flexibility, if not cost and time savings in terms of a daily commute to the office, facilitating a certain level of governance and control
The company plans to expand into Bengaluru, Pune, Mumbai, and Hyderabad in the near future and expand its network to 30 cities and overall capacity to over 100,000 seats across the country
While office demand is expected to grow, co-working and warehousing segments may see renewed interest
As per data made available by real estate consultants, total office absorption across the top 7 cities is geared to cross 39 mn sq ft in 2018
Bengaluru and Delhi-NCR largest markets for flexible spaces in India, with a combined share of almost 55 percent in overall flexible space stock
Space absorbed by co-working service providers rises threefold to 3.44 mn sq ft