Pandemic has forced India Inc to build workspaces of the future, now

03 September 2021

Pandemic has forced India Inc to build workspaces of the future, now

  • Economic Times

Covid-19 has accelerated a few trends like digitalization where the new age workforce have different attitudes and preferences compared to the millennials, according to industry experts.
“Every walk of life has been changed by the pandemic including office spaces. We are now dealing with a liberated work environment- hybrid, flex, work from home, in premises work and collaborative spaces are all subsets of a liberated environment. One thing is for
sure, office is a flag of strategic importance for the corporate world, a Dag that stands for stability and for retaining as well as hiring talent,” said Viral Desai, Executive Director,
Transaction, Knight Frank India.

In the The Awfis Leadership Summit 2021, industry experts said working from home had its impact on employees in terms of stress and diminishing the overall well-being of the employees. In today’s world, hybrid work model, remote working, work from home will
co-exist.

“Workspaces are no longer going to be a binary decision- it is going to have work
from home, flexibility, and tier 2 cities all these things will coexist in the world we will be moving forward to. Conversations around flex is on the rise and employee safety is becoming a matter of paramount importance along with other wellness factors. Space utilisation will also have to be monitored and behavioural adaptation to space environments will be necessary as work environments will be more
about experience and productivity,” said Badal Yagnik, Managing Director,
Cushman & Wakefield.

The other change which will take front seat in reimagining workspaces is the safety of employees. Offices will be designed in line with the new reality where space utilization will get monitored, behavior adjustments will be taken into consideration and the offices will provide an environment that yields higher productivity.

“Flexible office sector has shown remarkable growth in recent years with the pandemic not only introducing the concept of work from home but also work near home. Organizations and employees are favouring a more hub and spoke model – a trend that was already a talking point in tier 1 cities now moving towards tier 2 and tier 3 cities too. There is pressure on traditional lease models towards short term contracts and diversifying
portfolios in the different micro markets as well,” said Arpit Mehrotra, Managing Director – South India, Occupier Services, Colliers.

While Work from home has its positives, offices are about collaboration, engagement, culture building and talent development which is only possible with physical offices.

“Conversations around satellite o8ices are getting stronger and clients are looking for country specific solutions instead of location specific solutions. With respect to the purpose of office, office spaces are spaces to collaborate, engage, ideate- it is an experience,” said Sanjay Bajaj, Managing Director – Pune and Logistics & Industrial Services, JLL.

“Employee connect, bonding, camaraderie, talent integration and development, all these need physical office environments. Such spaces are required to build, sustain, and retain culture to socialise and network,” Bajaj added.

Janak Malkani, Executive Director, CBRE said that the industry is witnessing an accelerated change in performance, expectations, and role of the workplace. “Firms have been successful in changing their strategies to ensure seamless functioning, while effectively leveraging potential changes in work styles. With a renewed focus on health and safety, businesses are now incorporating smarter and people-centric business models to better not employee-wellness strategies, Malkani said.

Commercial real estate is now dealing with a liberated work environment and collaborative workspaces are a subset of this new work environment. With this trend, a conventionally popular trend of building the office first and then hiring has been reversed. Despite these changes, office is a flag that stands for stability, retaining and hiring talent.

“With a mass transition to work from home last year, organizations are now gradually breaking away from the traditional office environment and looking to build a new type of workspace for the future. The ongoing pandemic has disrupted the traditional definition of office and this has led both the employers and employees to reconsider the purpose and need for an office space,” said Sumit Lakhani, CMO, Awfis.

“In a pre-pandemic world, o8ices were designed to be primarily functional however with the changing times and revolving work cultures, companies look forward to building open and collaborative workspaces that facilitates knowledge and idea sharing among their employees,” Lakhani added.

This story appeared in the September 02, 2021 issue of  Economic Times and was originally published at : https://economictimes.indiatimes.com/news/company/corporate-trends/pandemic-has-forced-india-inc-to-build-workspaces-for-the-future-now/articleshow/85868852.cms

 

 

 

Awfis leases 85,000 sq ft space in Noida, Real Estate News, ET RealEstate

10 May 2022

Awfis leases 85,000 sq ft space in Noida, Real Estate News, ET RealEstate

  • Posted by Awfis Editorial

Currently Awfis has 11 co-working centres in the Delhi-NCR region and the company plans to open 10-15 more centres in the market by the end of 2022.

Awfis, a flexible workspace provider, has leades 85,000 sq ft space in River Side Tower, sector- 125, Noida. The centre will have over 1500 seats and is expected to go live by end of March 2022, the company said in a media release.

Currently Awfis has 11 co-working centres in the Delhi-NCR region and the company plans to open 10-15 more centres in the market by the end of 2022.

Amit Ramani, CEO & Co-Founder of the company said, “We are delighted to partner with River Side Tower to open this new ’workspace in Noida.The sharp recovery and the growing demand for flex workspaces from this region inspired us to continue to create garde-A flex workspaces, so as to facilitate businesses of all size in the market. We are confident that this trend will continue to grow and even the most traditional companies will see merit in setting up hub and spoke offices to help people work in close proximity to their homes allowing them to spend lesser time in commuting.”

The company claims to have launched over 50 centres with 30,000 seats and entered three new markets in the past 15 months.

Awfis plans to open 200 centres across the country by the end of 2022. It currently has 121 centres with 70,000 seats across 14 cities.

This story appeared in the 9 February, 2022 issue of MSRealty and was originally published  at: Awfis leases 85,000 sq ft space in Noida – ET Realty

 

Awfis added 1,500 seats in Noida, leases 85,000 sq ft.

10 May 2022

Awfis added 1,500 seats in Noida, leases 85,000 sq ft.

  • Posted by Rashika Chandorkar

Home-grown flex workspace provider has added over 1,500 seats at a coworking centre in River Side Tower, sector 125, Noida. The new centre, which will go live by end of March 2022, is part of Awfis’ vision of opening 200 centres across the country by the end of 2022.

The centre is spread in 85,000 sq ft area. The flex space adopts a digital-first approach and is equipped with plush and modern amenities whilst maintaining social distancing norms, as mandated.

“We are delighted to partner with River Side Tower to open this new workspace in Noida, which is rapidly emerging as one of India’s leading business hubs for large-scale companies and startups alike,” said Amit Ramani, CEO & Founder.

“In fact, the sharp recovery and the growing demand for flex workspaces from this region inspired us to continue to create grade-A flex workspaces, so as to facilitate businesses of all sizes in the market. We are confident that this trend will continue to grow and even the most traditional companies will see merit in setting up hub & spoke offices to help people work in close proximity to their homes allowing them to spend lesser time in commuting,” he added.

Currently, Awfis has 11 coworking centres in the Delhi-NCR region and the company plans to open 10-15 more centres in the market the by end of 2022.

At the back of strong demand for flex workspaces, Awfis launched 50+ centres with 30,000 seats and entered 3 new markets in the past 15 months. The company currently has 121 centres with 70,000 seats across 14 cities and will continue to strengthen its foothold across India to establish a network of 200 centres in 2022.

Firms in co-working space expanding to tier 1 & 2 cities

10 May 2022

Firms in co-working space expanding to tier 1 & 2 cities

  • Posted by Awfis Editorial

Co-working operators are expandinginto tier-1 and tier-2 cities, driven by the adoption of the hub-and-spoke model by organisations, reverse migration of employees to their hometowns, affordable office rental costs, a growing startup ecosystem and the availability of talent, said industry executives. Large companies are now asking for multi-city space from co-working companies. “We have closed multi-city deals with our existing large enterprise clients in IT/ITeS, BFSI (banking, financial services and insurance), especially in markets like Pune, Noida, Hyderabad, and Bengaluru,” said Harsh Binani, Co-Founder, Smartworks.

In the past six months, demand for tech-enabled managed workspaces has grown threefold, according to industry experts. “With Covid-19 subsiding, we have been observing a substantial increase in the number of queries for our office as an outsourced service. Corporates are determined to lease and divest their office spaces to avoid unwanted longterm commitments and capital expenditures, “said Ankit Jain, Director, Skootr. The company plans rapid expansion in Bengaluru, Mumbai, Pune and Noida in 2022 to cater to the growing demand for offices.

Corporate occupiers are looking for portfolio re-optimisation and focusing on the concept of managed office spaces. “We have sold 6x more seats in the last three months than what we used to sell pre-Covid, with a huge chunk under our demand-led supply model for mid-to-large-sized corporates across tier-1 and 2 cities. We are working towards further expanding our base pan-India with 200 centres by the end of 2022,” said Amit Ramani, Founder & CEO, Awfis.

Half of a large co-working operator’s demand now comes from large occupiers who want satellite offices under the hub-and-spoke model. “For all practical reasons, co-working spaces are the most preferred option for companies to satisfy this demand,” said Nikhil Madan, co-founder, The Office Pass.

According to international property consultant Savills India, about 23% of the leasing in the first two months was for flex and serviced offices. “The first two months of the year have been where we are seeing a shift toward flexible and serviced office solutions. Also, tech demand is likely to pick up with a very strong return to office sentiment,” said Shweta Sawhney, Managing Director, Delhi-NCR, Savills India.

This story appeared in the 23 March, 2022 issue of BrickAcres and was originally published  at : Firms in co-working space expanding to tier 1 & 2 cities- The Economic Times