Page 2 - Coworking Space

Coworking firms lease 21% more office space in 2021 across top 8 cities

Co-working operators expanded their portfolio aggressively last year and took on a lease 21 per cent more office area across the top 8 cities to meet the rising demand of flexible workspaces from corporates amid the COVID pandemic, according to Cushman & Wakefield. The leasing of office spaces by co-working operators across eight major cities increased to 4.91 million square feet in 2021 from 4.05 million square feet in the previous year. These eight cities are -- Bengaluru, Hyderabad, Pune, Mumbai, Delhi-NCR, Chennai, Kolkata and Ahmedabad. Cushman and Wakefield India in its quarterly Office Market Beat report highlighted that the share of the co-working segment in the gross office leasing grew to 9.4 per cent last year from 8.1 per cent in the previous year. Across eight major cities, the coworking players provided on lease 78,869 seats or desks in the 2021 calendar year to occupiers, mainly to corporates. In 2020, the report said that 37,759 seats were given on lease to ...

WeWork India 2021 revenue up 33%; plans to add over 20K desks next year

Coworking major WeWork India's revenue rose by 33 per cent to over Rs 800 crore this year and is expected to grow further in 2022 on improved demand for its flexible workspaces, a company official said.

Coworking market size to double over next 5 years at 15% CAGR: CII report

Flexible workspaces are the preferred way to adopt the hybrid work model in a post-pandemic world, compared to options like changing existing office layouts or the hub-and-spoke model

Offices transform with movable walls, touchless elevators as workers return

Firms are experimenting with working arrangements and space in offices that are Covid-safe and attractive.

Covid crisis: Flexible workspace options to soar as firms expand capacity

They are using the interregnum to expand and to negotiate cheaper real estate deals to add seating capacity

WeWork plans new route for comeback in public markets: Report

The firm had a failed IPO attempt in 2019

Co-working player Smartworks to add 3 million sq ft office space in FY22

Several projects already under discussion, firm is also offering clients option to downsize or upsize across the geographies they operate in

Office space leasing by co-working players to fall 58% in 2020, says report

At a juncture when co-working spaces were seeing strong growth, the outbreak of Covid-19 has played spoilsport.

Coworking player Simpliwork takes 250,000 sq ft leased office space in Pune

Company has delivered 1.2 mn sq ft to clients so far post Covid

We'll be profitable again by end of the year: Karan Virwani of WeWork India

In a Q&A, the CEO of the global co-working space company says his firm has been flexible on terms and has also reached out to bigger clients

The Office Pass to open 3 coworking centres with 900 desks in Delhi-NCR

The Gurugram-based startup, which was founded in 2017 and currently has seven coworking centres with around 1,500 desks, is looking to expand business

Smartworks takes 600,000 sq ft offices on lease in Mumbai, Pune, Hyderabad

Firm currently has 31 co-working centres, with 60,000 seats and 4 min sq ft across nine cities.

As work from home takes precedence, shared workspaces get in battle mode

What do you do when your business model is based on professionals sharing workspaces at a time when coronavirus crisis is snowballing?

Coworking centre operators likely to double or treble in 2 years: Anarock

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

Flexible workplace demand to increase 5-fold by 2025, says report

Demand for flexible workspace in India is estimated to jump five times by 2025 to 130-140 million sq ft, accounting for one-third of global coworking inventory, according to a report by property consultant Cushman & Wakefield (C&W). The global real estate consultant released its report 'Redefining future workplaces at Workplace Trend Conclave held here on Friday. "The phenomenon of coworking has been the proverbial storm in the teacup for commercial real estate in India," the report said. India is one of the largest flexible workplace markets in the world, the NYSE-listed consultant said. "The rise of millennials has led to the existence of a strong start-up and entrepreneurial culture. They need a workplace that inspires innovation and ideas, offers flexibility in terms of timings and location, while being integrated with technology for communication and collaboration," said Anshul Jain, Country Head & Managing Director-India, C&W. The consultant has estimated the ..

Smartworks Coworking raises $25 mn from Singapore realty firm Keppel Land

Smartworks, which has 23 operational centres in 9 cities and offers 43,000 workstations over 2.3 mn sq ft, plans to grow to 20 mn sq ft and seat 200,000 professionals over the next five years

Office sharing venture My Place to invest Rs 25 crore in North India

The office space leasing start-up plans to set up 12 co-working centres in the next 12 months

Flexible workplace operators lease 52% more office space in Jan-June: CBRE

The total stock of flexible workspace has reached 23 million sq ft

Demand for co-working space is set to see three-fold rise by 2020

From an annual average of 3 million sq ft available currently, co-working space is set to scale up to 11 million sq ft by 2021, says Sudeep Singh, chief evangelist and CEO at GoWork