Flexible Office Space provider Skootr leases 5 million sqft investing Rs.1000 crore

Managed Co-working Office space provider Skootr decides to add up 5 million square feet to its inventory by FY2028, which is valued at an estimated investment of Rs 1,000 crore. They took this strategic step to expand its portfolio and widen its footprints across key micro markets of the country.

During the last week, the company introduced their premium flexible workspace ‘Skootr Palace Park’, which is expanded over 1.03 lakh sqft in sector 129 along the Noida-Greater Noida Expressway. 

The co-founder of Skootr, Anuj Saxena, informed that, the company is planning to go live in micro markets such as Pune, Chennai and Mumbai by this fiscal year.

Saxena further quoted, “Our target is to add around 5 msf of portfolio by FY 2028 with a tentative investment of around Rs. 1,000 crore. Out of this, around 1 msf of office space will be launched in 2024-25 at a tentative investment of Rs. 150 crore. Out of total 5 msf office space, around 2 msf will be in Bengaluru, while Delhi NCR and Hyderabad micro-markets will have development of around 1 msf each. The remaining 1 msf will come up in other markets such as Mumbai, Pune and Chennai.”

The company was established in in 2016 and already they are operational in Delhi, Noida, Gurugram, Jaipur, Hyderabad, Chennai and Bengaluru. Few of their notable clients are BMW, IKEA, Pinnacle, American Express, Macquarie & Expedia, and The Economist.

The company has recently taken over  100,000 sqft of premium office space on the Noida-Greater Noida Expressway in order to build Skootr Palace Park. The Skootr Palace Park is situated in a strategic location of Max Square which has a capacity of 1,586 seats. 

Saxena also opined that, the Noida-Greater Noida Expressway is witnessing brisk growth with huge investments from large enterprises and business houses. The strategic belt has an eclectic mix of residential, commercial, and industrial projects.

Saxena further added, “With Skootr Palace Park, we intend to offer a productive, premium, and extraordinary office space in the heart of the business hub, where people enjoy working. With Corporate India returning to office, our aim is to provide a business model to our clients that helps them scale and reach the top.” 

After acquiring space in Skootr Solace Park the company has 80 offices across 20 premium properties in India, totalling a built-up portfolio of 3.5 million square feet of managed office space across all business verticals.