iStockIndiQube, a tech-enabled flex space start-up, has expanded its operation across Madurai, Kochi, and Jaipur by signing up over 1.5 lakh sq. ft. of office space across these cities, further strengthening its foothold in Tier II markets.
The company also leased one lakh sq. ft. of office space in Coimbatore earlier this year.
These centres in tier II cities have a seating capacity ranging between 1000 and 2000 seats each, taking the overall tier-II capacity of the company to over 7,000 seats.
"We got a very good response in Coimbatore and have attained over 80% occupancy in a very short time. We realised that there is a significant demand in Tier II markets for a good quality workspace product and have since expanded our footprint into other cities," said Rishi Das, Cofounder, IndiQube
IndiQube, which currently has around 7 lakh sq ft of office space across smaller centres in smaller cities, plans to have a presence across 15 tier II cities by the end of next year.
"The advent of hybrid working has created a never-before opportunity for employees to live, study, and work in the same city. Work Near Home is gaining increased popularity, and Tier II cities are bound to cater to this redistributed workforce in the new normal,", says Meghna Agarwal, Cofounder of IndiQube.
Flexible work patterns have increased in prevalence post the pandemic, with corporations like Google, Accenture, Deloitte, , , and IBM adopting the new workplace approach.
The use of flexible spaces—including managed offices and coworking spaces—in corporate real estate portfolios is expected to continue to become more prominent in the long term.
Post the pandemic, the use of flexible spaces in commercial real estate portfolios is becoming more prominent in the long term. The flexible space stock in India is expected to grow from close to 29 million sq. ft. in 2020 by 28% y-o-y to touch 47-48 million sq. ft. by 2022, said a CBRE report.
The company also leased one lakh sq. ft. of office space in Coimbatore earlier this year.
These centres in tier II cities have a seating capacity ranging between 1000 and 2000 seats each, taking the overall tier-II capacity of the company to over 7,000 seats.
"We got a very good response in Coimbatore and have attained over 80% occupancy in a very short time. We realised that there is a significant demand in Tier II markets for a good quality workspace product and have since expanded our footprint into other cities," said Rishi Das, Cofounder, IndiQube
IndiQube, which currently has around 7 lakh sq ft of office space across smaller centres in smaller cities, plans to have a presence across 15 tier II cities by the end of next year.
"The advent of hybrid working has created a never-before opportunity for employees to live, study, and work in the same city. Work Near Home is gaining increased popularity, and Tier II cities are bound to cater to this redistributed workforce in the new normal,", says Meghna Agarwal, Cofounder of IndiQube.
Flexible work patterns have increased in prevalence post the pandemic, with corporations like Google, Accenture, Deloitte, , , and IBM adopting the new workplace approach.
The use of flexible spaces—including managed offices and coworking spaces—in corporate real estate portfolios is expected to continue to become more prominent in the long term.
Post the pandemic, the use of flexible spaces in commercial real estate portfolios is becoming more prominent in the long term. The flexible space stock in India is expected to grow from close to 29 million sq. ft. in 2020 by 28% y-o-y to touch 47-48 million sq. ft. by 2022, said a CBRE report.
Experience Your Economic Times Newspaper, The Digital Way!
Read More News on
(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
