Flexible workspaces expected to rise to about 10 million sq ft by 2020

India has emerged as the second largest market for co-working in the APAC region, after China. Reports indicate that co-working was the fastest growing sector in commercial real estate last year and will continue to grow exponentially this year as well.

In 2018, flexible office space crossed 6 million sq ft, according to CBRE—over 50 per cent higher than the previous year. This was also the year several players entered the country and set up operations. And in the first three months of 2019 alone, flexible working spaces have leased nearly 3 million sq ft commercial realty, a 70 per cent increase on a quarterly basis. 

Today, there are close to 200 co-working operators running an estimated 400+ facilities across the country. Notably, the five major co-working players in India—Regus, WeWork, CoWrks, Awfis, Smartworks—have 0.79 million sq m (8.5 million sq ft) operational space, as per Knight Frank. Private equity players have also been looking to invest in co-working startups. One prominent example is that of Sequoia Capital, which invested $ 20 million in mid-2017 in Awfis.

Cities on the high 

Bengaluru, Mumbai and Delhi house the biggest concentration of co-working spaces in the country, with about 70 per cent of India’s start-ups. Data suggests Bengaluru was at the top, garnering maximum activity. However, in Q12019, a visible shift occurred with Hyderabad emerging as the leading city for co-working space taken up.

“From the second half of 2018 onwards, we began seeing demand for flexible workspaces go up in Tier-II cities,” says Harsh Lambah, Country Manager-India, IWG Plc. Adds Sidharth Menda, Founder & Vice Chairman, CoWrks, “Multinational companies, SMEs and start-ups are increasingly setting up their base in cities like Hyderabad and Chennai.”

SERAPHINA D’SOUZA

Tripura Rail Survey Approved For Jirania–Bodhjung Link

The Ministry of Railways has approved a Final Location Survey (FLS) for a proposed new railway line between Jirania and Bodhjung Nagar in Tripura. The planned section will span 14 km and is estimated to cost around Rs 4.2 million, with the entire alignment located within West Tripura district. The approval marks a key step towards strengthening railway infrastructure and supporting industrial growth in the state. Bodhjung Nagar is Tripura’s principal industrial and commercial hub, developed mainly for resource-based industries such as rubber, bamboo and food processing. The proposed Jirania..

MCF Raebareli Rolls Out Its 15,000th Passenger Coach

The Modern Coach Factory (MCF) in Raebareli, Uttar Pradesh, has reached a major production milestone with the manufacture of its 15,000th passenger coach on December 15, the Ministry of Railways said. During the current financial year 2025–26, the unit has produced a total of 1,310 coaches so far. Established in 2007 at Lalganj in Raebareli, MCF is among India’s most advanced passenger coach manufacturing facilities. Built at a cost of around Rs 31.92 billion, the factory has an installed annual capacity of 1,000 coaches and is located about 3 km from Lalganj on the Kanpur–Raebareli Roa..

RVNL Wins Gandak River Rail Bridge Contract

Rail Vikas Nigam Limited (RVNL) has received a Letter of Award from North Eastern Railway for a major railway infrastructure project valued at Rs 1.65 billion. The contract relates to the construction of the substructure for a key railway bridge over the Gandak River. The bridge will be constructed between Paniyahwa and Valmikinagar stations as part of the doubling of the Gorakhpur Cantt–Valmikinagar railway section. Designed to enhance capacity and operational efficiency, the structure will comprise 14 spans of 61 metres each and will be supported by double D-type well foundations. The des..