Simpliwork Offices is planning to double up its space in the NCR in the next one year. For this, the company has already signed up two spaces in NCR and are in final stages of talks with two other space owners. This will take their NCR portfolio count to 800,000 Sq.Ft. with an investment amounting to Rs. 400-500 Crore.
Apart from focusing on NCR, the company is also working on its national expansion plan. For this, they are adding more centres in Hyderabad, Pune, and Bangalore.
In the NCR, the company has finalized 55,000 Sq.Ft. space at DLF Plaza in Gurgaon and 45,000 Sq.Ft. at DLF Prime Tower in Delhi. The talks are on for 75,000 Sq.Ft. space at Golf Course Road and 1.1 Lakh Sq.Ft. space in DLF Cyber Park, both in Gurgaon, plus another property at Golf Course Extension Road, Gurgaon.
They recently signed a long-term lease for 230,000 Sq.Ft. office space in Pune, making the deal the largest Pune office lease signed till date this year.
In the light of the Corona outbreak, a lot of office space is expected to get vacated by operators by the time the year comes to an end. However, players are still seeing this as an opportunity to acquire more space at a low price and thus expand their footprint.
More than 250 co-working players are currently operational in India. While around 75 per cent space in this domain is being managed by big players, only around 25 per cent is occupied by smaller players, with the NCR and Bangalore housing most companies.
Expanding at a fast pace, Simpliwork Offices started in January 2018 and it currently manages over 2.4 Mn Sq.Ft. space in India.