There is a relatively new form of business model emerging in the real estate space across the world. The model is addressed by several names viz. co-working spaces, on-demand workplaces, shared offices, etc. This workspace model has gained impetus because of spiraling real estate costs. It is also very effective for companies who do not want to tie themselves down with long-term lease obligations and instead have a flexible cost structure. In this article, we will have a closer look at the new trend of shared offices.
Co-working spaces enter housing projects
Offering such facilities as an added feature in residential or mixed-use developments is a timely notion, says Anuj Puri
In the midst of several pandemic-induced changes within Indian real estate, many developers are now mulling the viability of incorporating co-working spaces in their residential projects to align with the new work-from-home (WFH) realities. There are at least two possibilities — retrofitting co-working spaces into existing clubhouses and incorporating such a feature at the very design stage for new projects.
Source: The Hindu
India’s first shopping mall-cum-coworking facility to come up in Pune’
India’s first shopping mall-cum-coworking facility, housing some of the niche retail brands, is expected to be launched in Pune in mid-October, according to Anarock Retail.
Situated adjacent to the Pune Airport, the AeroMall, being developed by Pebbles Infra-Tech under the PPP model with AAI, is spread over 4,45,000 sq ft, including 1,30,000 sq ft of leasable space for retail. The entire third floor, measuring 65,000 sq ft, of the facility is dedicated to coworking/office spaces which will cater to approximately 2,000 working professionals at a time.
As sole advisors to the facility, Anarock Retail has designed the complex, managed its development, and crafted its tenant mix, Anarock Retail, the retail services division of the home-grown real estate consultant Anarock, said.
Source: Business Standard
Co-working spaces to come up in metro stations
L&T Metro Rail (Hyderabad) Limited (L&TMRHL) has initiated a unique concept of ‘Office Bubbles’ – offering secured, remote, co-working spaces as part of its Transit-oriented Development (ToD). This concept is going to be one of its kind ever explored in Indian Metro Rail history. Through Office Bubbles, L&TMRHL would fulfill the surging demand for co-working spaces and locational flexibility of office spaces in Hyderabad.
Close to 0.4 million sqft would be dedicated to Office Bubbles for lease, encompassing 1750 sqft of 2 units across 49 typical metro stations and 5,000-30,000 sqft of spaces at 8 non-typical metro stations. One can expect spaces to be offered in bare shell, warm shell, and plug & play formats depending on the client’s requirements.
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