Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
EFC (I) Ltd launches EMBERSTONE SM REIT, India’s first managed office space-focused Small & Medium Real Estate Investment Trust, with SEBI approval to raise ₹500 crore. This milestone boosts EFC’s portfolio, enhances Assets Under Management, and underscores its innovative approach. Strong Q2 FY25 financial growth reflects robust market demand.
READ MOREIndia Accelerator launches a 23,000 sq. ft. coworking space in Pune, catering to startups, freelancers, and businesses. Equipped with modern amenities, the 500-seat facility fosters collaboration and innovation through community events. Backed by mentorship and funding, IA supports Pune’s thriving startup ecosystem, which is ranked South Asia’s 5th largest innovation hub.
READ MOREWeWork India revamps its board, appointing industry experts to drive growth and sustainability. Key additions include Mahua Acharya and Anupa Rajiv Sahney as Independent Directors, alongside leadership changes with Karan Virwani as MD & CEO. The strengthened board aims to enhance governance, innovation, and WeWork India’s presence in flexible workspaces.
READ MOREIndia’s commercial real estate is shifting to an OpEx model, prioritising flexibility and cost-efficiency. Corporations are embracing managed and co-working spaces, with leasing projected at 70 million sq. ft by 2024. Sustainability and tech-driven solutions like smart building systems further drive this trend, transforming workspace strategies for adaptability and growth.
READ MORETamil Nadu’s government launches “Mudhalvar Padaipagam,” a modern co-working facility in Chennai that boosts productivity and supports start-ups. Priced affordably, it offers high-speed internet and networking opportunities. WorkEZ’s CEO highlights the growing workspace demand in Tamil Nadu, with expansion into cities like Coimbatore and Madurai driven by cost-effectiveness and talent access.
READ MOREIndia’s coworking industry thrives as hybrid work drives demand, with flexible workspaces accounting for 21% of commercial real estate transactions in 2024. Delhi NCR leads with 92% occupancy, while players like Collative report 70% in South Delhi. Coworking spaces now support events, collaboration, and networking, poised for 30% growth by 2025.
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