Smartworks, managed workspace platform, has leased 2.3 lakh sq ft in Bangalore to expand its footprint amidst rising demand from corporates and established startups.
The property that can seat 3000 employees is located at The Cube at the Karle Town centre.
“This is our seventh centre in the city, and we’ll soon be crossing a 2 Mn sq. ft footprint in Bangalore, given the incredibly high demand for fully managed and flex office solutions. Our newest centre will feature an array of lifestyles,” said Neetish Sarda, Founder, of Smartworks.
The new addition is Smartworks seventh centre in Bangalore, which will become operational in May 2022 and has already been pre-booked to 40%.
Smartworks currently has a growing footprint of approx. 7 Mn sq. ft. with a presence in 10 cities and 37 centres. caters to over 450 organisations across Forbes 2000 companies, MNCs, and unicorns.
The office segment in India has been one of the fastest to recover from the impact of the pandemic. In the post-Covid world, the flex space segment is expected to grow and be a mainstream occupier segment, with operator-landlord partnerships creating superior office assets.
“India will continue to remain the leader in technology outsourcing and will build on its gains as the biggest R&D and Global Capability Centre hub across financial services, software development, new technology, artificial intelligence and machine learning,” said Karan Singh Sodi, Regional Managing Director, Mumbai & Ahmedabad, JLL said.
The flexible space segment will play a key role in supporting occupiers’ growth strategies given the changing dynamics of portfolio optimization and employee needs. As such, the flex market is expected to double its footprint across the top seven cities by 2025 to 75 million sq ft and cross the 100 million sq ft mark by 2030.
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