Serviced office provider Executive Centre plans to invest $50 million in India to double facilities
Serviced office space provider The Executive Centre plans to invest over $50 million to almost double the number of centres in India to 30 in the next three years. The company has a total of 17 centres in the country at present.
“We have been growing our business by 42% annually for the past five years and this is growth that is set to continue in 2018 with a further 42% expansion encompassing our existing markets,” said Paul Salnikow, chief executive officer, The Executive Centre.
“With a compound annual growth rate of 36% India, in the next 3 years, we are targeting to lease 1,011,908 square feet by 2020,” he added. The company has around 400,000 sq ft of office space leased at present.
The Executive Centre has presence in seven Indian cities of Gurgaon, New Delhi, Mumbai, Pune, Hyderabad, Bangalore and Chennai at present. It leases spaces in the range of 20,000-30,000 sq ft. “We aim to increase our presence to 17 cities of India in the next 3 years,” said Salnikow.