Co-working spaces enter events business

27 June 2019

Co-working spaces enter events business

  • Economic Times

Some of the events include networking sessions, hackathons or even a standup comedy show. GoWork, CoWrks, Awfis and WeWork are early movers in this revenue-generation stream.

CHENNAI: Imagine going to work in the morning and partying on the same premises in the evening. Co-working spaces across the country are doing exactly this to make money in more ways than just lending its offices as a work space. Having invested in swanky lounges and decors, these offices are opening up their conference rooms, cafeterias and other amenities to conduct events for their members and also third-party companies — all for a charge.

Some of the events include networking sessions, hackathons or even a standup comedy show. GoWork, CoWrks, Awfis and WeWork are early movers in this revenue-generation stream.

With events contributing 20% of revenues, GoWork looks to increase the contribution by another 5-10% this year, under its GoSocial wing. “Sometimes, non-member companies also use our facilities for the same charge,” said GoWork CEO & chief evangelist Sudeep Singh.

CoWrks, with the launch of its vertical Converge, offers their meeting and conference rooms on hourly charges. “Facilities are available at competitive rates in comparison to conducting events in any other 5-star hotel properties,” said CoWrks director (new products) Nruthya Madappa.

While Cowrks offers a per-hour charge, GoWork charges Rs 80,000 a day for a basic hackathon for 100 members. Seat charge for a person for basic amenities is Rs 6,500 per month.

Some of the spaces also offer a barter-based approach to non-member companies. “For instance, if an upcoming F&B brand approaches us, we ask them to provide food for our events in exchange for business opportunities. However, if such a mutual agreement can’t be drawn, third-party companies would have to pay a charge,” said Awfis AVP (marketing) Sukriti Pandey.

Sumeet Kapoor, CEO of Delhi-based startup Employwise, an occupant of Go-Work, finds it easy to plan and organise office HR functions. “It is not easy to conduct events for a gathering of 200-odd people,” he said.

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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