Commercial space provider COWORKS leases 4 centers on in Mumbai & Bengaluru

Brookfield Properties company owned COWRKS, has signed leases for four new centers covering a total of 1.4 lakh square feet in Mumbai and Bengaluru, as stated in a press release by the co-working firm. This growth has increased the brand's total presence to 15 lakh square feet.

The company has a strong presence in major six cities of India with a portfolio of 34 operational centres comprising over 21,000 desks.

The senior Vice President and Business Head at COWRKS, Parul Thakur explained, "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." 

She also added, the need for workspaces that provide operational efficiencies, workspace flexibility, employee engagement, and business continuity is the driving force behind this demand.

The new facilities can be found at Equinox in Mumbai, as well as Ecoworld and Centennial in Bengaluru. Emphasizing collaborative and flexible design, every facility features designated quiet areas for concentrated work and areas for bigger groups, enhanced by creative artwork and lively colors.

According to their media statement, COWRKS has worked with diverse clientele, including Fortune 500 companies, startups and unicorns.

The adaptable and well-organized office sector in India has shown a steady rise since the Covid-19 pandemic, capturing a growing portion of the overall commercial real estate market. Major corporations have also embraced this trend as they transition towards a hybrid work environment.

According to a June 2024 report by property consultancy Colliers, the flexible office space segment in India's top six cities reached its highest-ever quarterly demand of 2.6 million square feet during the April-June period. Bengaluru and Delhi-NCR together contributed to 65% of this demand.  

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