Co-working is emerging to be the preferred office space for businesses across industries, especially post-pandemic, given the flexibility and cost-effectiveness it offers, the consultant added. With demands growing for co-working spaces in major cities across India, Pune is no exception.
Tablespace invested last month
Last month, Tablespace, which provides managed office space to corporates, had taken on a lease one lakh square feet area in Pune to grow business. In addition to Tablespace, now two co-working majors Awfis and WeWork India have entered Pune.
WeWork India takes office space on lease from Panchshil Realty
WeWork India has taken on lease 92,000 square feet of office space in Pune from Panchshil Realty to expand its business.
In a statement, WeWork India said it has signed a lease agreement for a new building 'Eleven West' in Pune.
Located in Baner, the workspace spans over 92,000 square feet and marks WeWork India's third transaction with real estate developer Panchshil Realty.
Arnav S Gusain, Head of Real Estate and Product, WeWork India, said that Pune has emerged as one of the prominent cities for businesses seeking top-quality real estate. He added the company would expand its footprint in the city by providing world-class workspace experiences to the modern workforce.
Sagar Chordia, Director, of Panchshil Realty, said, "WeWork India has been a credible partner of Panchshil Realty since 2019. WeWork India marked its first space take-up in the city at Futura, Pune, and the addition of its office space at Eleven West further strengthens our ties and reflects confidence in our workspaces."
Awfis announces leasing partnership with Nyati Group
While Awfis has announced its strategic leasing partnership with Nyati Group.
Through this collaboration, Awfis will offer 1.74 lakh sq. ft of Grade-A flex office spaces spread across two of Nyati Group's Grade-A premium commercial assets –Nyati Empress and Nyati Enthral, in Pune. The two developments are spread across 56,252 sq. ft and 1,18,154 sq. ft. and are located in prime Viman Nagar and Kharadi respectively.
Currently, Awfis has 17 centres in Pune and aims to expand to 25 by end of 2023.
Pune poised to witness significant upswing in hybrid workplaces
Commenting on the growth and expansion of the co-working industry in Pune, Piyush Nyati, Joint Managing Director at Nyati Group said, “Co-working is emerging to be the preferred office space for businesses across industries, especially post-pandemic, given the flexibility and cost-effectiveness it offers. The demand for flexible spaces is gaining momentum in Pune as organisations look to optimise costs, be closer to employees, and retain talent with flexible work options. Also driven by factors such as reverse migration, cost of living, and infrastructural push by governments, Pune is poised to witness a significant upswing in hybrid workplaces."
Sumit Lakhani, Deputy CEO, of Awfis, said, "We are thrilled to partner with Nyati Group to provide innovative workspace solutions to our highly valued clientele in Pune. Through this partnership, Awfis will bring its expertise in providing top-notch flexible workspaces with the aim to deliver an unparalleled workplace experience. At Awfis, our goal is to help businesses grow and succeed, and this partnership is a step towards realizing that goal."
Speaking about the market, Harish Shroff, Director (Sales, Marketing and Business Development) at Nyati Group added, “Co-working solutions offer the advantage of quality workspaces for India’s fast-growing startup and entrepreneurial eco-system - something we take an active interest in growing and fostering across our commercial portfolio."
What is co-working spaces and who are major players?
The companies present in the co-working segment, which includes managed and customised office space, generally take office space on lease from property owners and sub-lease it to corporate clients as well as individuals. Awfis, WeWork India, Tablespace, Smartworks, Awfis, CoWrks, The Executive Centre, Simpliwork Offices, IndiQube, 91Springboard, 315Work Avenue and Akasa Coworking are some of the other major players in the co-working segment.
