Opens 10th Office, registers 200% growth
Plans to open 35 neighbourhood coworking and 15 managed offices in 2 years
New Delhi, 26th October 2021: Neighbourhood Coworking operator, The Office Pass (TOP) has launched its 10th coworking office in Delhi NCR (8th in Gurgaon). The coworking facility is spread across 27,000 Square feet. This aesthetically designed space boasts 560+ workstations, extensive meeting and conference rooms, lounge, café and collab zones. This makes TOP the largest Neighbourhood Coworking operator in the Millennium city of Gurgaon.
The newly opened office is located inside a prominent business complex, Unitech Cyber Park, that offers proximity to HUDA Metro Station as well as being conveniently accessible from Delhi and all parts of Gurgaon.
“Riding on to the strong demand from SMEs, large enterprises and MNCs for coworking and managed spaces, we are well poised to expand our footprints from the current count to 50 in the next 24 months, ” said Nikhil Madan, co-founder of The Office Pass (TOP).
The Delhi NCR-based firm plans to open 35 neighbourhood coworking, 15 managed offices across Delhi-NCR, Mumbai and one more city to further strengthen its presence.
“These offices will cater to large corporates, SMEs, as well as start-ups, continuing to nurture the spirit of innovation and enterprise across the nation. After Delhi NCR, we would next venture out to tap the potential and opportunities in Mumbai before the end of FY22,” said Madan.
Flexible office operators see steady demand from enterprises and SME’s due to the uncertainty in the business environment and flexibility on investment commitment in the coworking space.
“The momentum towards flexible workspaces is evident from the solid revenue growth achieved by The Office Pass (TOP) post the second wave of Covid. Our business has grown by 200% in July-Sept quarter as more n more companies shift from traditional long term leases to Coworking & Managed offices, ” said Madan.
This is the third TOP office that has been opened during the pandemic period. The occupancy for TOP across offices has reached over 70%. With COVID showing signs of easing out, TOP plans to expand expansively to capitalise on this demand surge.
Traditionally, flexible/coworking spaces have been popular with start-ups. However, with uncertainties around the spread of the pandemic, large corporations are also looking at getting out of long-term leases and owned premises to flexible coworking workspaces.
The co-working and managed office market has disrupted the traditional work environment and has seen massive growth in the last few years.
As per Colliers International, during 2021, flexible workspace operators are likely to lease about 3 million square feet of space across the top six Indian cities.