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Awfis has disclosed its collaboration with NSL (Nuziveedu Seeds Pvt Ltd) to open coworking spaces in Bangalore and Hyderabad. The collaboration intends to fulfill the rising need for flexible workspaces and create an atmosphere that is supportive of the expanding entrepreneurial community in these locations.
Awfis has a proven track record of helping bigger family offices and group corporations develop their portfolios of flexible workspaces. The premium Awfis Gold center at NSL Icon in Banjara Hills, Hyderabad, would have a built-up space of roughly 25,000 square feet. At Bangalore's Prestige Technology Park, Awfis is constructing a second facility with a built-up size of roughly 45,000 square feet. The facilities are anticipated to satisfy these regions' growing need for flexible workspaces.
Chairman and Managing Director of Nuziveedu Seeds Pvt Ltd, M Prabhakar Rao, expressed his delight for the alliance and claimed that it will foster the development of a thriving community in both Hyderabad and Bangalore.
The relationship, according to Amit Ramani, founder and CEO of Awfis, is in line with their expansion goals to open 250 centers by FY '24, and both Bengaluru and Hyderabad are among the top markets in India for flex space absorption.
The opinion was mirrored by Aishwarya Mandava, Head Infra, Nuziveedu Seeds Pvt Ltd. She claimed that working with Awfis enables them to take advantage of their knowledge and standing in the sector and guarantee that their clients have access to the best facilities and resources.
With 23 and 14 centers, respectively, Awfis presently has a strong network in Bangalore and Hyderabad, and new relationship with NSL further solidifies its commitment to offering clients in both cities high-quality flexible workspaces.
The rise of flexible workspaces is expected to have a significant impact on the real estate industry in India. With the increasing demand for flexible workspaces, developers are recognizing the importance of incorporating flex spaces into their real estate portfolios. This trend is expected to continue, with more and more developers and landlords exploring the possibility of leasing out their properties as flexible workspaces. This will not only provide a new source of revenue for developers and landlords but also help them to make better use of their underutilized properties.
Moreover, the rise of flexible workspaces is also expected to have a positive impact on the overall real estate market. With more options for flexible workspaces available, businesses will have greater flexibility in choosing their office locations, which may lead to increased demand for office space in non-traditional locations. This, in turn, may drive up demand and prices for commercial real estate in these areas.
Overall, the rise of flexible workspaces is likely to create new opportunities for developers, landlords, and businesses in the Indian real estate industry, and it will be interesting to see how this trend develops in the coming years.
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