Co-working Space provider '91Springboard' acquires of 48,000 sq.ft space in Hyderabad

Flexible co-working space provider firm 91Springboard has recently leased out third centre in Hyderabad which spans across an area of 48,000 square feet. Reportedly,the space is located in Hitec City's Raheja Commerzone Hetero Tower.

Thecompnay statement depicted that, the newly leased center will mark the brand's 31st location across the country, and it is pushing the overall footprint in Hyderabad to 1,40,000 square feet. 

Raheja Commerzone Hetero Tower is a business park dedicated to IT and ITeS, encompassing an area of 9 acres in Madhapur, Raidurg, Hyderabad.

The COO of 91Springboard, Sameer Singh stated, "We are thrilled with our new location at HITEC City. With picturesque corner offices, spacious work areas abundant in natural light, and a variety of appealing food and beverage choices available on-site, along with ample parking, we have ensured that everything is in place for our team.”

From 2012, the demand for such flexible office spaces has been emerging and it has expanded its presence tier 1 cities like Bengaluru, Mumbai, New Delhi, Hyderabad, Gurugram, Noida, Pune and Goa. Due to its flexibility to cater short-term and long-term requirements of businesses of all sizes, it is gaining importance everyday.

The June 2024 report of famed property consultancy Colliers unveiled that, the demand of flexible office space segment in the top cities of India witnessed highest ever quarterly demand in the April-June period at 2.6 million square feet. Above all, Bengaluru and Delhi-NCR have accounted for 65% of this demand.

The senior director and head of research, Colliers India Vimal Nadar expressed “Flex operators have already leased about 4.4 million square feet of space in H1 2024, underscoring the occupiers’ continued preference for flex spaces.”