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Business Standard
30-06-2025
- Business
- Business Standard
Co-working operators' office leases up 48% in top 7 cities: Colliers
Co-working centre operators have rented 65 lakh square feet of office space during the January-June period this year across seven major cities, up 48 per cent on an annual basis, on rising demand for managed and flexible workspaces from corporates, according to Colliers India. Co-working operators leased 44 lakh square feet in the corresponding period of 2024 calendar year across seven cities -- Delhi-NCR, Mumbai, Kolkata, Chennai, Hyderabad, Pune and Bengaluru. The co-working operators take office spaces on rent from real estate developers and property owners and then sub-lease it to corporates of all sizes. Although many corporates have started opting managed office space provided by co-working operators to save cost and hassles, a large number of companies still take conventional workspaces directly from builders and property owners. Colliers India data showed that the total gross leasing or absorption of office space rose 13 per cent to 337 lakh (33.7 million) square feet during January-June 2025 across these seven cities, from 299 lakh (29.9 million) in the year-ago period. "Flexible spaces are increasingly establishing themselves as a key demand driver in India's office market. Given the current momentum, flex spaces are likely to define contours of commercial real estate in India throughout 2025 and beyond," said Vimal Nadar, National Director and Head of Research, Colliers India. Commenting on the data, Darshan Govindaraju, Executive Director at Bengaluru-based Vaishnavi Group, said the surge in office space leasing can be attributed to the robust addition of Grade A office spaces across micro markets in the top seven cities which are attracting occupiers from across the globe. "This, coupled with the sustained confidence of technology enterprises in the India growth story and the robust addition of their GCCs (Global Capability Centers), is helping shore up leasing in these markets," he added. Manas Mehrotra, Founder of 315Work Avenue, said co-working spaces have emerged as the defining feature of India's rapidly evolving commercial real estate. "There continues to be huge traction for flex space from corporates of all sizes as flexible workspace has become a key component in the overall real estate portfolio of corporates to enhance employee productivity, foster collaboration, and optimise operational costs by scaling up or down as per business requirements," he added. Shesh Rao Paplikar, Founder & CEO, BHIVE Workspaces, said the India growth story continues to capture the mindspace of global organisations with their continued investment in the country's technology, GCC, BFSI, insurance and other sectors. Flexible managed workspace is acting as a catalyst in driving consistent growth in office space leasing, he added. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Hindustan Times
19-06-2025
- Business
- Hindustan Times
315Work Avenue leases 50,000 sq ft office space to METRO Global Solutions in Pune
Co-working space provider 315Work Avenue has leased 50,000 sq ft of flexible office space to METRO Global Solutions Center Pvt Ltd (MGSC) at International Tech Park Pune (ITPP) in Kharadi, the company said in a statement. MGSC serves as the internal solutions arm of global wholesaler METRO. International Tech Park Pune (ITPP), where the new lease has been signed, is a Grade A commercial development by Ascendas-Singbridge. Spanning 2.5 million sq ft, the tech park is located in Kharadi, a key IT hub in Pune's North Eastern corridor, and is near the Pune Lohegaon International Airport. With this addition, 315Work Avenue now operates six centres in Pune across 0.6 million sq ft, offering about 12,000 seats in collaboration with developers such as Ascendas, Panchshil, and Raheja. Nationwide, the company manages 3 million sq ft and 60,000 seats across 45 locations in Bengaluru, Chennai, Hyderabad, Mumbai, and Pune, the statement said. Also Read: 315Work Avenue leases additional 56,000 square feet office space in Pune Manas Mehrotra, founder of 315Work Avenue, said the company is witnessing rising demand for flexible workspaces from corporates seeking cost-effective, collaborative environments. "Overall, we continue to see a significant rise in demand for co-working spaces from corporates of all sizes as flexible workspace has become a key component in their real estate portfolio to enhance employee productivity, foster collaboration, and optimise operational costs by scaling up or down as per business requirements. Our recent expansions, including significant leases in multiple cities, highlight our commitment to meeting the rising demand for flexible workspaces across the country," he said. According to JLL, flexible workspaces made up 20% of India's office leasing in 2024, with the segment expected to exceed 100 million sq ft across the top seven cities by 2026.
