Coworking – Transforming Indian Workplaces

20 February 2021

Coworking – Transforming Indian Workplaces

  • Realty NXT

The segment will grow further and witness robust demand drivers and a strong supply momentum fueled by the aggressive expansion of many coworking players. 

2019 witnessed coworking spaces accounting for almost 13% of the total office space segment from a smaller 5% in 2017. The need to cater to the workspace preferences of emerging millennial workforce, constantly introducing innovative workplace practices, collaborative technologies, flexibility and ease of operations has made coworking the first choice for many start-ups, mid-sized companies and even the Fortune 500 corporates.

Coworking spaces revolutionizing commercial real estate 

Shared working spaces are set on the ideals of the professional who is not only looking for a place to plug his laptop but ensures that he is optimizing his work with round-the-clock amenities minus the copious lease amount. In here, the millennial worker can choose quality over quantity and work in a collaborative environment rather than as a lone wolf.  This relatability often brings in more traction, which is precisely why there is a chance that occupancy levels might intensify to 8 to 9 million sq. ft. by 2020.

Today, India is one of the biggest flexible space markets in APAC and will continue to grow into the Tier -2 cities such as Goa, Chandigarh, Lucknow and Jaipur as well. Coworking spaces are not only gaining strong foothold across the country but have become the go-to option for many employees as well as employers.

Coworking players are entering into different business models to partner with landlords to maximize profits and minimize risk.  Coworking has garnered positive attention from large investors that is wielding a positive influence on the scaling up strategy, technological augmentations, upgradation of facilities & amenities as well as reaching out to more enterprise clients thereby emerging as a critical element of any corporate’s real estate strategy. In fact, from 0.2 million sq. feet in 2014, the market is poised to experience a lease surge up to 10 million sq. ft. in 2020. This is expected to grow three times over the next 3-5 years where the coworking industry will play an integral role in the growth of the commercial real estate leasing activity.

According to JLL’s report on Emerging Trends in India’s office sector, 1.1 million sq. ft. to 3.4 million sq. ft. has been taken up by coworking spaces in seven major cities over a period of one year. Moreover, the number is expected to grow drastically in few years. Customization, collaboration, flexibility and Grade A amenities at affordable prices are few aspects that make coworking the fastest growing segment in commercial real estate and will continue to be the game changer for CRE business in India.

This story appeared in the 17 March , 2020 issue of Realty NXT and is authored by Amit Ramani, Founder and CE0, Awfis. This article was originally published at : Coworking – Transforming Indian Workplaces | RealtyNXT

Awfis leases 65,000+ Sq. Ft. Flex Space to UNext in Bengaluru

29 June 2022

Awfis leases 65,000+ Sq. Ft. Flex Space to UNext in Bengaluru

  • Posted by Awfis Editorial

Awfis’ Lido Mall center, also known as ‘Awfis One’ is strategically located at Bengaluru’s prominent CBD, MG Road and offers Grade-A infrastructure and unmatched amenities.

Awfis, India’s largest home-grown flex workspace provider, has partnered with UNext, a next generation online learning organisation focused on the higher education ecosystem. As part of this partnership, Awfis has leased 65,000 sq ft. and 900+ seats to UNext in its marquee 100th centre in Bengaluru. Knight Frank was the sole consultant partner for the transaction.

Awfis brought its expertise of catering to highly specialised and customized requirements of companies and made pioneering design innovations for UNext’s new office in Lido Mall, Bengaluru. Awfis’ Lido Mall center, also known as ‘Awfis One’ is strategically located at Bengaluru’s prominent CBD, MG Road and offers Grade-A infrastructure and unmatched amenities. The extraordinary provisions of the building include exceptional arrival experience, dedicated in-house studio and phygital collaboration setups across the workspace.

In line with the post-pandemic reality and changing business needs, Awfis is working closely with leading startups, mid-sized corporates and large enterprises for their renewed & customized workspace needs.

“Our new Headquarters in Bengaluru will be a reflection of our values and culture. Like our aim to transform education and learning through technology, our cutting-edge corporate office will also have new-age elements to transform our employee and learner experience. We are delighted to partner with a leading player like Awfis for our evolved needs” said Ambrish Sinha, CEO, UNext Learning.

Commenting on this association, Amit Ramani, Founder & CEO, Awfis said, “We are excited to have UNext partner with us for their workspace requirements, that are aligned with the new-age workforce. The design and aesthetics of our centres is testament to the growing focus of new-age companies towards creating multi-dimensional, interactive, and rewarding office spaces for employees returning to physical workplaces after a prolonged period of working from home.”

Awfis currently has the largest network of flexible workspaces with 131 coworking centres and 77,500 seats spread across 14 cities and is heading towards the 200 centres milestone by end of 2022.

This story appeared in the 29 June, 2022 issue of RealtyNxt and was originally published at: Awfis leases 65,000+ Sq. Ft. Flex Space to UNext in Bengaluru, RealtyNxt

Prestige Group, Awfis To Invest Rs 70 Crore To Set-Up Six Co-Working Centres

04 February 2022

Prestige Group, Awfis To Invest Rs 70 Crore To Set-Up Six Co-Working Centres

  • Posted by Awfis Editorial

Realty firm Prestige Group and co-working operator Awfis have expanded their partnership and will set up six more centres, comprising 3 lakh square feet, across major cities with an investment of about Rs 70 crore to meet rising demand of flexible workspace.

In February, the two companies had announced setting up of six centres spread over 2 lakh square feet area involving an investment of around Rs 40 crore.

”We have already launched six centres in the first phase of our partnership with Prestige group. Now, we are going for the second phase of expansion,” Awfis Founder and CEO Amit Ramani told PTI.

The company is setting up centres in Bengaluru, Hyderabad, Chennai and Pune at commercial properties owned by Prestige group.

Including both the phases, Prestige group and Awfis will have 12 centres, covering around 5 lakh square feet area and comprising around 9,500 desks. ”The total investment for both the phases will be Rs 110 crore. The investments are being made by both the partners in equal ratio,” Ramani said.

Juggy Marwaha, CEO, Prestige Office Ventures, said the flexible workspace has become an important component in any office building and office park. ”Nearly 40 million square feet of co-working space is now spread across the length and breadth of this country, we definitely believe that the FLEX segment of the office landscape will continue to rapidly grow,” he added. The partnership aims at catering to the growing demand for co-working spaces, for startups, SMEs, mid and large-sized corporates that are looking to adopt hybrid/ agile workplace models, amidst the new normal.

”We believe in building relationships that are a WIN–WIN for all stakeholders in a shared and collaborative future. We are looking forward to a continued and sustained growth that we have seen so far, that is helping our occupiers and our group,” said Irfan Razack, Chairman & Managing Director, Prestige Group.

Awfis currently has 100 centres and 60,000 seats across multiple cities and it has an aggresive expansion plan for the next year.

Prestige Group, one of the leading real estate developers in the country, has completed 112 commercial projects spread across 36 million square feet and it has 24 upcoming commercial projects spread across 42 million square feet in some of the major cities of the country. Recently, property consultant Colliers and Qdesq said that flexible workspace stock would cross 60 million square feet in metro and non-metro cities by 2023, as occupiers embrace agility and flexibility in their work models.

This article was originally published  on 16 December 2021 at : Prestige Group, Awfis To Invest Rs 70 Crore To Set-Up Six Co-Working (realtynxt.com)

Awfis Has Launched Its Latest Innovative Offering ‘Awfis@Home’

22 February 2021

Awfis Has Launched Its Latest Innovative Offering ‘Awfis@Home’

  • Posted by Arathy Nair

Awfis, India’s largest home-grown coworking space provider has launched its latest innovative offering, ‘Awfis@Home’, further diversifying its work product portfolio.

In the current forced lockdown where working from home is more of a necessity than an option, individuals and organizations need to be quick to adapt to the challenges of a new style of working. Work From Home (WFH) became an overnight sensation and is here to stay as organizations have started looking at it as a viable option for long-term business continuity and enabling employee choice. WFH will bring about cost efficiency for organizations while providing greater flexibility for employees.  The need for a solution that can assess organisational readiness and provide adequate infrastructure for employee to work from home led to the development of Awfis@Home.

Awfis@Home is an integrated platform enabling distributed work experience through its 3-pronged approach – The a@h Assessment Tool, The a@h Toolkit & The a@h Tech-enablement. This product provides the flexibility to efficiently work from the comfort of one’s home while replicating the setting of a productive office work environment.

Based on the key success factors of a successful work from home framework, the a@h Assessment Tool identifies the challenges and opportunities of work from home for employees, managers and organizations, helping them evaluate their level of readiness. This tool gauges employees’ on various parameters to find the need gap at an individual and organizational level. This is followed by a comprehensive and customised assessment report that provides critical insights for decision making around what percentage of employees, their respective needs and specifically which roles will be best suited for work from home.

Specifically designed to promote productivity, connectivity and convenience, the a@h toolkit works on a monthly subscription model starting at INR 2500, offering higher cost savings and flexibility with zero capex. The integrated toolkit provides the users with smart solutions that are focused on enhancing the physical infrastructure for working from home through smart & ergonomic furniture along with tech solutions like high speed broadband connection, data security, IT solutions & collaboration tools.

Additionally, to make remote working seamless, Awfis also provides the a@h tech enablement which is an integrated tech platform that will support companies in effortlessly connecting teams and building efficiencies. The App consists of a geo-tagged attendance management system, a real-time feedback mechanism and a touch-free smart scan for access to any Awfis centre or for booking a meeting room on just-in-time basis. The complete Awfis@Home solution integrates all aspects of Work From Home to make employees productive by replicating at home all aspects of the typical office workspace.

The Awfis@Home solution leverages the vast network of the Awfis centres to bring with it the perks & privileges of being a member of the Awfis coworking community.  This includes access to the vast network of Awfis centres, complimentary meeting room credits, day pass, printing, scanning and delivery services at the nearest Awfis centre along with exclusive entry to Awfis events, held virtually or as per social distancing norms.

Speaking at the launch Mr. Amit Ramani, CEO and Founder, Awfis said, “The current situation has given way to a new style of working – Work from Home. Organizations and individuals are trying their best to adjust to this new normal and need of the hour is a solution that would help them maintain and build the productivity and efficiency of the physical workplace right in the safety and comfort of their homes. Awfis@Home is a revolutionary solution that enables the flexibility of remote working coupled with the productivity of the office space. Offerings ranging from smart furniture to seamless connectivity and an integrated tech enablement platform, Awfis@Home offers comprehensive solutions to all its users.”

This story appeared in the 20 May , 2020 issue of Realty NXT  was originally published at : Awfis Has Launched Its Latest Innovative Offering ‘Awfis@Home’ (realtynxt.com)

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