Business EconomyPosted at: Oct 5 2021 11:23AM


315Work Avenue signs deal for 700-seat workspaces in Bengaluru

Bengaluru, Oct 5 (UNI) Expanding its footprint in the vibrant city of Bangalore, 315Work Avenue, a leading co-working space provider has announced signing 700-seats with two companies spread over 37,000 square feet here.
While one company is a New-York based American advertising company, the other company is a global manufacturing company with worldwide presence in 15 countries.
With these two agreements, the company has signed around 5,000 seats over the last six months of this financial year.
315Work Avenue currently manages around 20,000 seats spread over 1 million square feet office space across 20 centres located in prime business hubs in Bangalore, Mumbai & Pune.
The company also plans to add another 5 lakh square feet office space over a period of six months.
The company offers a variety of services and spaces like enterprise offices, co-working desks, private offices, meeting rooms and virtual offices to corporates, mid-size enterprises, small teams, start-ups and entrepreneurs depending on the needs of its users.
315Work Avenue Founder Manas Mehrotra said the pandemic has highlighted the importance of de-densification of office space and adoption of hub and spoke model.
Hence, there has been a surge in flexible space options and increased focus on hybrid working models by large enterprises and multinationals, he said.
The company expects a pick-up in demand for well-located, high-quality and efficient flexible workspaces, resulting in them occupying a greater portion of the total commercial office portfolio in India, Mehrotra said.
He said the demand outlook is strong despite the turmoil caused by the second wave and the growth in demand indicates an improvement in economic sentiment, with companies upbeat about their expansion strategies, Mehrotra said.
"We have already achieved phenomenal growth in a short period and our priority now is to deepen the penetration in existing markets as well as enter newer ones. We remain optimistic about the co-working space growth and momentum," he added.
The coworking companies have seen a massive spike in the number of inquiries recently.
As per a recent report, leasing of flexible workspace by corporates rose 73 per cent during January-June period on a year-on-year basis, signalling the continued demand for co-working spaces in the current scenario.
UNI BDN GNK
Please log in to get detailed story.
Tags: #315Work Avenue signs deal for 700-seat workspaces in Bengaluru
More News
Rupee down by 14 paise against USD

Rupee down by 14 paise against USD

18 Jun 2025 | 10:48 AM

Mumbai, June 18 (UNI) The rupee on Wednesday depreciated by 14 paise at 86.38 in the opening session on strong dollar demand by bankers and importers, amid looming global geopolitical and tariff uncertainties, traders said.

see more..
Sensex up by 90 29 points

Sensex up by 90 29 points

18 Jun 2025 | 10:46 AM

Mumbai, June 18 (UNI) The BSE Sensex on Wednesday rose by 90.29 points to 81,673.59 in early trade as buying was seen in Realty, Auto, Oil & Gas and IT shares.

see more..

BikeWo Green Tech partners with Flipkart Group for green logistics

17 Jun 2025 | 9:16 PM

Hyderabad, June 17 (UNI) Hyderabad-based green mobility start-up BikeWo Green Tech Limited on Tuesday declared a strategic partnership with Instakart Services Private Limited, a logistics subsidiary of the Flipkart Group, to support last-mile delivery activity in India with an array of electric and green vehicles.

see more..
Lumino Industries gets Sebi nod for Rs 1,000 crore IPO

Lumino Industries gets Sebi nod for Rs 1,000 crore IPO

17 Jun 2025 | 6:50 PM

Mumbai, Jun 17 (UNI) Lumino Industries, a leading player in the EPC and manufacturing business with expertise in the power and energy sectors, said today that it has received capital markets regulator, Securities and Exchange Board of India’s (SEBI) nod to raise Rs 1,000 crore through an initial public offering (IPO).

see more..
Vipul Organics receives 1st commercial order for its newly developed organic intermediate for final use in automobile industry

Vipul Organics receives 1st commercial order for its newly developed organic intermediate for final use in automobile industry

17 Jun 2025 | 6:36 PM

Mumbai, June 17 (UNI) Vipul Organics Limited, the leading specialty chemicals company in the pigments and dyes segment, announced on Tuesday that it has received the final approval and the first commercial order for a newly developed organic intermediate to be finally used in the automobile industry, marking a strategic expansion into a new product category and new industry vertical.

see more..