COWRKS, a flexible workspace provider, rents four centres totaling 1.4 lakh square feet in Mumbai and Bengaluru

By Bricksnwall | 2024-07-19

COWRKS, a Brookfield Properties business, has leased four new facilities, including Equinox in Mumbai and Ecoworld and Centennial in Bengaluru.

COWRKS, a Brookfield Properties business, has leased four additional centres totaling 1.4 lakh square feet in Mumbai and Bengaluru, according to a release. According to the brand, this development has increased its overall footprint to 15 lakh square feet.

COWRKS has a presence in six major Indian cities, with 34 active locations totaling over 21,000 desks.

The opening of these additional centres indicates the increased demand for Grade A flexible office solutions from both startups and major organisations, which is consistent with our strategic objectives," stated Parul Thakur, Senior Vice President and Business Head at COWRKS.

This demand is driven by the requirement for workspaces that provide operational efficiencies, flexibility, employee engagement, and company continuity, Thakur explained.

The new centres are in Equinox in Mumbai, and Ecoworld and Centennial in Bengaluru. Each centre, designed with collaboration and adaptability in mind, provides quiet zones for focused work as well as places for bigger teams, accompanied by expressive art and brilliant colours, according to the statement.

According to the statement, COWRKS services a diverse clientele, which includes Fortune 500 firms, startups, and unicorns.

Rising trend of flexible office segment in India

Following the Covid-19 epidemic, the flexible and managed office category in India has steadily increased its market share within the wider commercial real estate industry. Large corporations have also turned their focus to this sector as they embrace a mixed work culture.

According to a June 2024 research by property consultancy Colliers, the flexible office space category in India's top six cities saw its biggest quarterly demand ever in April-June, totaling 2.6 million square feet.Bengaluru and Delhi-NCR alone accounted for 65% of total demand. "Flex operators have already leased about 4.4 million square feet of space in H1 2024, indicating that occupiers continue to prefer flex spaces," said Vimal Nadar, senior director and head of research at Colliers India.

Source: HindustanTime