- TEC India signed 8 new centres across Bengaluru, Delhi, Gurugram, Mumbai, and Hyderabad in first half of the year and intends to expand more in the rest of the year.
- With this expansion, TEC has added a total of 2 lakh sqft of Grade A flexible office space to its existing portfolio in India.
Bangalore, 27 June 2023: The Executive Centre (TEC), the leading premium flexible workspace provider, has invested over INR 100 Crore in the first half of 2023 with the signing of eight new centres in India and intends to invest and expand more in the second half this year. These new centres are located at Helios Business Park, Bengaluru, DLF Centre, Connaught Place, New Delhi, One Horizon Centre and DLF Downtown in Gurugram, FIFC in Mumbai, Salarpuria Knowledge City, RMZ Nexity in Hyderabad, Prestige Palladium Bayan, Chennai. These centres are strategically located in grade A office spaces adding 2 lakh sqft and 2,200 workstations to the company’s existing portfolio.
Designed as per global standards and specifications, the centres will host a wide variety of facilities to boost productivity and promote work-life balance including state-of-the-art fitness centres, wellness rooms, mother’s care rooms, business lounge and baristas, library, phone booths, cafés, etc. The Executive Centre offers an array of flexible workspace solutions including private office space, bespoke enterprise solutions, coworking, virtual office, meeting rooms and much more.
Commenting on this strategic announcement, Ms Nidhi Marwah, Group Managing Director South Asia and Middle East, The Executive Centre commented, “Between the return to office trend, changes in the global political climate and the volatility in the financial markets, the flexible workspace industry has had many catalysts accelerating demand. The industry in India is accelerating and exceeding all industry projections, especially with demand from sectors such as IT/ITES, banking, and healthcare. In keeping with our mindful expansion strategy, we have invested over INR 100 Crore in signing eight new centres in the first half of 2023 and intend to open more across all major cities in India.
With a surge in demand for flexible workspaces, organisations are accelerating the adoption of cost-effective solutions. The recent report by Colliers, highlights that Indian corporates are fast embracing flexible workspace which now accounts for 10-12 per cent of their real estate portfolio compared to 5-8 per cent pre-pandemic. Organisations are now going for longer commitments of 3-5 years with flex space operators in contrast to shorter lease tenures of 1-2 years pre-pandemic.
