COWRKS, a Brookfield Properties company, has leased four new centres spanning a collective 1.4 lakh square feet across Mumbai and Bengaluru, the co-working firm said in a statement. This expansion has taken the brand’s overall footprint to 15 lakh square feet, it added.
COWRKS has a presence in six major cities in India with a portfolio of 34 operational centres comprising over 21,000 desks.
“The launch of these new centres reflects the growing demand for Grade A flexible office solutions from both startups and large enterprises, which aligns with our strategic goals,” said Parul Thakur, Senior Vice President and Business Head at COWRKS.
This demand is driven by the need for workspaces that offer operational efficiencies, workspace flexibility, employee engagement and business continuity, Thakur added.
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The new centres are located at Equinox in Mumbai and Ecoworld and Centennial in Bengaluru. With a focus on collaborative and adaptable design, each centre includes quiet zones for focused work and spaces for larger teams, complemented by expressive art and vibrant colours, the statement said.
COWRKS serves a diverse clientele, including Fortune 500 companies, startups and unicorns, the statement highlighted.
Rising trajectory of flexible office segment in India
The flexible and managed office segment in India has demonstrated a consistent upward trajectory following the Covid-19 pandemic, gaining increasing market share within the larger commercial real estate sector. Large enterprises too have shifted gears in favour of this category amid adoption of a hybrid work culture.
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According to a June 2024 report by property consultancy Colliers, the flexible office space segment across the top-6 cities in India registered its highest ever quarterly demand in the April-June period at 2.6 million square feet. Bengaluru and Delhi-NCR alone accounted for 65% of this demand.
“Flex operators have already leased about 4.4 million square feet of space in H1 2024, underscoring the occupiers’ continued preference for flex spaces,” said Vimal Nadar, who is a senior director and head of research at Colliers India.
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