Bangalore, 09 March 2022: 315Work Avenue, one of the fastest growing and a leading coworking space provider has signed up 800 seats with Square Yards, India’s largest integrated platform for Real Estate & Mortgages. This office space is located at Amar Paradigm, Baner, a prominent business hub in Pune that is witnessing sky rocketing commercial growth. The new centre comes with all modern amenities and state-of-the-art facilities and customized spaces.
315Work Avenue ensures technology-driven hubs, customized workflow and a productive work ambience to enhance work efficiency. The company currently manages around 20,000 seats spread over 1 million sqft across multiple prime locations in Bangalore, Mumbai and Pune. The company also plans to add another 5 lakh sqft office space over a period of six months.
Commenting on the same, Mr. Manas Mehrotra, Founder, 315Work Avenue said: “We are excited by the tie up with Square Yards and this deal reaffirms the potential created by the consistently rising demand of flexible workspaces amongst companies – startups, SMEs, mid-and large-sized enterprises that are looking to adopt hybrid workplace models, amidst the new normal. Companies today are increasing seeking solutions that reduces their capital expenditure, enhances agility and productivity. Corporates are gradually adopting a “core+flex” strategy as the concept of work from anywhere is far more prevalent and widespread today and flexible workspaces offer a great and refreshing office experience to clients. We have already witnessed a robust growth in this calendar year 2022 and have signed up around 3000 seats in the last 1 month and going forward, we remain optimistic about the high growth of coworking spaces.”
Commenting on the association, Mr. Anand Moorthy, CBO & Principal Partner – Asset Management Services & Data Intelligence, Square Yards said: “It is highly essential that we provide a workspace to employees that is in tune with our focus on positive work culture and innovation and 315Work Avenue meets all our requirements. We wanted to ensure a modern, tech-enabled, flexible workspace with a convenient commute to meet the demands of our exponentially growing workforce. The space radiates high productivity, work efficiency and intense collaboration. This arrangement offers convenience and flexibility for the company’s employees in a contemporary and safe environment. Hence keeping in mind the rapidly evolving dynamics around the concept of the workplace, we took decisive action to move into the coworking space.”
Coworking companies continue to witness rise in demand in recent times as flexible spaces have become an increasing necessity. Coworking operators sold over 55,000 seats in 2021, up from 36,000 seats in 2020, according to property experts, and they expect sales to double in 2022.Increased demand from large enterprises will help the industry grow to more than 60 million square feet by 2023, signalling the consistent demand for co-working spaces in the current scenario.