Co Works leases office space in Mumbai

Co Works leases office space in Mumbai
26/12/2017 , by , in News/Views

CoWrks, a shared office space providing company, has leased over 2.25 lakh sq ft commercial space across three deals in Mumbai and Gurugram. With this, the company will be venturing into the Mumbai market with one office and Gurugram with two offices, said a top company official.

“Given the robust demand for shared office spaces across all major cities, we are moving swiftly to lease and form alliances with landlords to establish and further our presence. We are adding three more centres to our portfolio in key commercial markets of Mumbai and Gurugram,” Sidharth Menda, chief executive at CoWrks, told.

Of the newly leased spaces, around 95,000 sq ft has been picked up in Mumbai’s Worli locality, while around 1.28 lakh sq ft has been leased through two separate transactions in Gurugram. The company is planning to launch all three centres that would cumulatively accommodate over 2,500 seats by February end.

“This is in addition to our three existing centres in South India and five under-construction centres spread over 5.5 lakh sq ft,” said Menda.

With this, the RMZ promoter group company will have co-working offices spread over 1million sq ft across Mumbai, Bengaluru, Chennai and Gurugram. The company started its operations in September 2016 and currently has total three centers operational in Bengaluru and Chennai. While CoWrks’ Chennai centre is around 24,000 sq ft, its two Bengaluru centres have shared offices spread over total 2.30 lakh sq ft. The company will be launching its second centre in Chennai spread over 88,000 sq ft over the next two months, by when Bengaluru will have two more CoWrks centres.

CoWorks’ first Gurugram centre will come up in part of an entire IT park building spread over 7.80 lakh sq ft acquired by RMZ Corp itself for over ₹800 crore. This centre, RMZ Gurugram Central, will accommodate 800 seats. The second one in Gurugram will be set up in Paras Twin Tower on Golf Course Road and will accommodate around 700 seats. While the Paras Twin Tower centre is scheduled to be operational by January end, the Worli centre is expected to start by the second week of February.

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