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Max Group enters into managed office space business; aims 2 lakh sq ft portfolio in 3yrs

·2-min read

New Delhi, Feb 25 (PT) Max group on Thursday said it has entered into managed office spaces business to tap the growing demand of flexible workspace with setting up of a 14,000 sq ft centre at Okhla in the national capital.

Max Asset Services, a subsidiary of Max Ventures & Industries Ltd (MaxVIL), announced its entry into the 'Managed Office Spaces' business with the launch of 'WorkWell Suites' at its office complex Max House, Okhla.

'The company plans to operationalise nearly 2 lakh sq. ft. of managed office space in the Delhi NCR over the next three years,' the company said in a statement.

Max Asset Services has planned a low Capex model for building this capacity.

'Managed office spaces is gaining due to the increasing acceptance in companies, of flexible office spaces as a rental option,' it said.

Co-working and managed office spaces are the two most popular formats of flexi-office space.

The company's first centre at Max House, Okhla has a total leasable area of 14000 sq. ft with a total seating capacity of 200 seats.

Max House, comprising around 1,05,000 sq ft of leasable area, was launched for leasing recently by its sister company Max Estates.

Rohit Rajput, Chief Executive Officer (CEO), Max Asset Services, said: “WorkWell Suites represent the next level of evolution of office spaces.' Sahil Vachani, Managing Director and CEO, MaxVIL said: “We have been receiving interest for Managed Office Spaces not just from start-ups which are open to experimenting with such workplace models, but equally from large Indian and multinational organisations.' WorkWell Suites will work as a complementary business to our flagship commercial space development business, Max Estates, he said.

Max Asset Services Ltd focuses on providing services such as building operations management, as well as managed offices for enterprises. It leverages various technological tools such as the mobile app, video analytics, visitor management etc. which help in managing costs while delivering a superior customer experience.

MaxVIL, a part of the multi-business conglomerate Max Group, owns and operates a real estate business through its 100 per cent subsidiary Max Estates, and a packaging films business through Max Speciality Films.

MaxVIL is listed on NSE and BSE.

Max Estates Limited has developed a commercial project Max Towers in Noida. PTI MJH SHW SHW