Motia Group, one of the leading real estate developers in Tri-City announced its joint venture with AWFIS-India's largest shared workspace provider, in Chandigarh on Thursday.
The centre has a seating capacity of over 300 customers and eyes to expand further in the region in the next 10 -12 months.
AWFIS has offered per seat at an average cost of Rs 6000, thereby, creating the demand for affordable Grade 'A' co-working spaces in Chandigarh, with a plan to generate revenue of around Rs 3 crores in a year.
Besides Chandigarh, AWFIS also aims to expand to other Tier II cities such as Ahmedabad, Jaipur, Kochi, Indore, and Bhubaneshwar and aims to establish 100+ centres with 50,000+ seats across Mumbai, NCR, Bengaluru, Chennai, Hyderabad, Kolkata, Pune and Zirakpur in the next 12 months.
AWFIS has come up with a creation of a structural change in commercial office markets with a growing need for the supply side to provide flexibility, services, turn-key solutions, scalability and well designed, optimal space.
AWFIS currently has a nationwide network of 55 centres with over 25,000 seats across 9 cities and 45 micro markets.
With Chandigarh's current growth trajectory only moving upwards, it makes for an exciting time for all stakeholders to witness the region's sharp economic progression in the coming years and beyond.
"The tie-up with AWFIS has led us to participate in the next wave of economic growth of India in the coming years and thus provide a favourable environment to start-ups, SMEs, large corporates to either set up their base or expand their footprints," said LC Mittal, Director, Motia Group.
Motia Group has delivered multiple residential projects such as Motia Heights, Royal Fame, MotiaCiti, and Motia'z Royal Citi in Punjab.
In the commercial segment, the group has delivered Motia Plaza in Himachal Pradesh and HighStreet in Punjab.
The upcoming projects of the company are Motia Huys and GuildFord Square in residential and commercial segment respectively.
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