The Executive Centre expands India footprint with an investment of INR 50 Crores

• TEC India expanding with 4 new centres across 3 cities in North and South India; accelerating demand to drive further expansion in 2022 • Building its existing portfolio by adding close to a total of 1 lakh sq ft of Grade A flexible office space to its existing portfolio in India

98

 The Executive Centre (TEC), Asia’s largest premium flexible workspace provider, has announced the opening of four new locations in India, with a total investment of more than INR 50 crores. While the two new centres in Bengaluru, located in UB City and Safina Towers will be operational this quarter, the centre in DLF Downtown Gurugram and Olympia Tech Park in Chennai will be operational in the last quarter of 2022. All the four centres are located across central business districts and cater to thriving niche markets in the metro cities. The expansion will cumulatively provide 1,200 workstations increasing the total workstation count in India to over 10,000.

With organisations looking to optimise their capex across and mitigate risks, flexible workspaces have gained a lot of traction as it helps organisations to provide hybrid working models for their evolving workforce in a post pandemic environment. Additionally, the IT/ITeS sector has been hiring aggressively and recent data from Cushman & Wakefield has stated that leasing of office space in eight cities in India is expected to increase by 14 percent this year. TEC is strategically placed to cater to the demand of rising adoption of flexible workplaces with the 4 new centres in Bengaluru, Chennai, and Gurugram adding close to 1 lakh square feet of grade A office space to the company’s existing portfolio, bringing the total space in India to more than a million square feet.

Ms. Nidhi Marwah, Group Managing Director South Asia and GCC, The Executive Centre

Commenting on this strategic announcement, Ms. Nidhi Marwah, Group Managing Director South Asia and GCC, The Executive Centre commented “As we enter a new era where hybrid work model become priority for organisations, we believe in offering an exemplary experience to our members by curating value-driven customised spaces. This helps our members to reflect their company’s identity and culture for their employees. India has always been a priority region for us and our investments over the past years marks a testament to this commitment. In addition to the four new centres, we aim to cater to the accelerating demand with additional centres in 2022, supporting the expansion of our existing members, welcoming new members, and enhancing our presence in the country.”

Designed as per global standards and specifications, the centres will host a wide variety of facilities to boost productivity and promote work-life balance including private gym and state-of-the-art fitness centre, wellness rooms, mother’s care rooms, business lounge and baristas, café area etc. The Executive Centre offers an array of flexible workspace solutions including private office space, bespoke enterprise solutions, coworking, virtual office, meeting rooms and much more.