Bangalore, December 05, 2022 : In light of the consistent demand for coworking spaces, 315Work Avenue, a leading new age coworking space provider has leased 400 seats to Jupiter, a leading digital banking platform. The workspace is located at HSR Layout, a prominent business hub in south-eastern Bengaluru experiencing sharp commercial growth and home to several hi-tech companies. This workspace, features state-of-art infrastructure and offers customized solutions to clients’ requirements.
315Work Avenue, known for its technology-driven hubs, customised workflow and a productive work ambience, manages about 30,000 seats across multiple prime locations in Bengaluru, Mumbai and Pune. The company plans to double its portfolio from the current 1.5 million sq ft to about 3 million sq ft by the end of this financial year.
Commenting on the partnership, Manas Mehrotra, Founder, 315Work Avenue said: “We are excited to partner with Jupiter and the pact clearly indicates the robust growth that we are experiencing in the recent times. The freedom to scale up and scale down, the cost advantage, reduced capital expenditure and the need to diversify risk has made flexible workspaces an easy choice for large-scale enterprises. With flexible spaces becoming mainstream, the coworking companies have become the preferred mode over conventional office space for the new generation workforce. Companies today are also increasingly seeking solutions that enhance agility and productivity and we are geared up to offer the same. We anticipate a long-term relationship with Jupiter and we are also looking to broadbase our clients in the banking and fin-tech sector by offering custom crafted solutions.”
Arpit Mehrotra, Managing Director, Office Services (South India), Colliers, said: Corporates are targeting a greater share of their their space to be flexible. The demand for flexible workspaces is increasing because such spaces enable lower costs, enhance productivity, augment the work experience, and provide flexibility. These players curate unique experiences and manage the ecosystem by forging alliances, events and community focus to the occupants. We believe that coworking industry will continue to garner enhanced share in the overall office space.”
As per a report, about 38 per cent of the organisations are planning to expand their office portfolio in the next 6-18 months, 35 percent are planning to retain their existing portfolios while 13 per cent are looking to consolidate their office spaces, thus signalling a positive demand for coworking spaces in the near future.