IndiQube, a flexible workspace operator, wants to extend its managed office business to tier-II cities and six major metros this year, as serviced office demand is likely to rise.
IndiQube now maintains 4.5 million square feet (sqft) of serviced offices in major cities, aiming to more than double that number by 2024.
“We are seeing good response from clients across cities. Over the next two years, we intend to have about 15 tier-II in our portfolio to cater to the emerging requirements from clients,” said Rishi Das, co-founder, IndiQube. “The advent of hybrid working creates an opportunity for employees to live, study and work in the same city.” The firm has signed 100,000 sqft in Coimbatore, its maiden property in a tier II town.
The property has a seating capacity of more than 2,000 units and is customized to fulfill clients’ needs ranging from a 10-seater to a 1,000-seater office space.
IndiQube has locations in Bengaluru, Chennai, Hyderabad, and Pune, to name a few.
Its clients include Ola, Unacademy, MakeMyTrip, Philips, and EY.
“We have 70,000 seats under management with 85% occupancy. By 2025, the number of seats under management will be 200,000,” Das added.
Large organizations are likely to use flexible spaces to decrease capital expenditure and achieve cost savings while allowing for split teams and de-densification as people return to the office.
“We are also taking over older commercial buildings and refurbishing them. We have already signed 2.5 million sft through refurbishing older buildings, operational 2024-2025,” said Das.