Prestige & Awfis to set up six co-working spaces with Rs 40 crore investment

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The pandemic has led to the adoption of various new ways of working. Organizations have been forced to reimagine their work environment and the importance of office space in creating a productive, safe and a quality work-life balance for their employees.

Coworking spaces have transformed the way we work today. It provides flexibility, takes care of the basic amenities such as desk space, electricity, internet connection and all a person has to do is pay for their space at a reasonable price.

It is estimated by the end of the year, there will be over 26,000 coworking space globally. Furthermore, 10% of office spaces are occupied by coworking and are expected to rise to approximately 25% in the next few years.

Prestige & Awfis to set up six co-working spaces

The Realty firm Prestige Group has tied up with co-working operator Awfis to set up six centres, comprising around 4,000 desks, in BengaluruHyderabad and Chennai with an investment of about Rs 40 crore.

These six centres, spread over 2 lakh square feet area, will come up at Prestige Group’s commercial properties in the three cities.

The company will target not just start-ups and SMEs but also mid- and large-sized corporations looking to decentralise their workplaces amidst the new normal. Awfis intends to deepen this partnership further and expand across other micro-markets and buildings.

Of the six centres, four are located in Bengaluru’s prime commercial locations, namely Koramangala, Outer Ring Road and two in Whitefield. The other two centres are at Guindy in Chennai and Begumpet in Hyderabad.

Source : ETRealty