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Inspire Co-Spaces to invest about Rs 20 cr to set up seven coworking centres

·2-min read

New Delhi, Sep 19 (PTI) Co-working firm Inspire Co-Spaces will invest around Rs 20 crore by March next year to set up seven centres comprising nearly 2,500 desks to meet rising demand of flexible workspace, its founder Amit Sathe said on Saturday.

On Friday, the company launched its first two centres at Goregaon and Belapur in Mumbai Metropolitan Region (MMR), comprising 78,000 sq ft of office space and nearly 1,000 workstations.

Sathe said the company would start two new centres in Andheri and Thane next month. These two facilities are spread around 19,000 sq ft area and have about 400 desks.

'We are also entering into new cities. We plan to open three centres in Pune, Ahmedabad and Bengaluru by March next year,' he said, adding that the demand for flexible workspace would rise post COVID-19 pandemic.

The total area in these three centres will be around 49,000 sq ft with seating capacities of about 1,000 people.

Sathe said the company plans to enter Hyderabad, Chennai and the national capital market.

Sathe and Nisshith Agarrwal, the two co-founders, have over 40 years of real estate experience in commercial real estate.

'A customised space of your own, our area will flex to your business requirements and needs. Inspire co-spaces enables you to customise your office the way you want it for small, medium and large office space requirements. The price fits your pocket, understanding the people's condition, the selling price is up to 20 per cent below the market price,' said Agarrwal.

India's office market has been performing well despite multi-year slowdown in the overall real estate market. The net office space leasing stood at record 45-50 million sq ft in 2019.

The absorption of office space is expected to decline by 30-50 per cent this year as corporates, both domestic and MNCs, have deferred their decision to expand.

However, experts are of the view that office market will bounce back fast post-COVID-19. PTI MJH MKJ

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