Prestige has partnered with co-working space operator Awfis and will add 12 new flexible work centres spread across five lakh sq ft in a phase-wise manner in the upcoming months.
The partners will jointly invest about Rs 100 crore. Awfis will offer around five lakh sq ft of Grade-A flex workspaces in Prestige Group’s commercial office properties in Bengaluru, Hyderabad, Chennai and Pune, spanning approximately 10,000 seats.
The twelve new centres are in Bengaluru (7), Chennai (2) and one each in Hyderabad and Pune. These are in prominent central business districts (CBD) such as UB City, Hosur Road, Whitefield and Outer Ring Road in Bengaluru, Saidapet and Mount Road in Chennai and Begumpet in Hyderabad.
Out of these, only Pune centre would be operational in the next nine months, while others would be open in the next two months or so.
“The partnership started small but has grown in the last two quarters. It’s not an exclusive but a preferred partnership. We see huge value in it because occupiers want flexibility and limited CAPEX. Nearly 40 million sq ft of co-working space is now spread across the country; we believe that the flex segment of the office landscape will continue to grow rapidly,” said Juggy Marwaha, CEO, Prestige Office Ventures, in an interview.