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Office Transactions Reach Record Highs in H1 2024 – Knight Frank India Report 0
- Industry News
- July 19, 2024
India’s office market hit a record 34.7 million sq ft in H1 2024, growing 33% year-on-year. Bengaluru led with 8.4 million sq ft. Flexible spaces surged, comprising 21% of transactions. Strong demand lowered vacancy rates and boosted rents. The market is set to finish 2024 on a high note.
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Smartworks Transitions to Public Company Amid IPO Plans 0
- Industry News
- July 19, 2024
Smartworks has transitioned to a public company, aiming for an IPO. Following a $20 million funding round, its name changed to Smartworks Coworking Spaces Limited. With 41 centres across 13 cities, the company nearly doubled its revenue to ₹744 crore in FY23. Key stakeholders include NS Niketan LLP.
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Innov8 Launches Three New Coworking Centers in Delhi-NCR 0
- Industry News
- July 17, 2024
Innov8 launches three new coworking centres in Delhi-NCR, adding 60,000 sq ft and 1200+ seats in Unitech Cyber Park, DLF Cyber City, and Okhla. These centres offer premium amenities, prime connectivity, and flexible workspace solutions. Innov8 invested Rs 10+ crore in these facilities to foster innovation and collaboration.
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Bengaluru’s Office Space Set to Soar to 340 Million Sq Ft by 2030 0
- Industry News
- July 17, 2024
Bengaluru’s office space is projected to reach 330-340 million sq ft by 2030, driven by technology, engineering, and BFSI sectors. Currently, at 223 million sq ft, the city leads India in office absorption. Enhanced infrastructure and emerging areas boost growth, while warehousing space hits a record 54 million sq ft.
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India’s Office Space Absorption Hits Record High in 2024 0
- Industry News
- July 17, 2024
India’s office space absorption hit a record 34.8 million sq. ft. in H1 2024, a 29% increase from 2023. Despite a 32% drop in new supply, vacancy rates fell to 15.9%. Bengaluru led leasing activity, followed by Mumbai and Hyderabad, with strong demand from tech and BFSI sectors.
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Samsung Renews 420,000 Sq Ft Bengaluru Office Lease 0
- Industry News
- July 17, 2024
Samsung Research and Development Institute India-Bangalore renews its 420,000 sq. ft. office lease in Bengaluru for five years, with an annual rent of ₹500 million. Despite global vacancy trends, India’s office space demand is growing and is driven by sectors like GCC and BFSI. Samsung’s commitment underscores Bengaluru’s role as a tech hub.
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theflexinsights.com is a platform aiming at being the go-to place for insights, trends and predictions about coworking and flexible workspaces in India. It aims at connecting individuals, businesses and workspaces to create a fostering environment and to propel growth for the overall coworking and flexible workspaces industry within India.