Smartworks to invest Rs.1 bn on shared office space

Shared office space provider Smartworks will invest up to Rs.1 bn in expanding its presence in the National Capital Region (NCR), for which it is in the final stages of acquiring 5 lakh sq ft in NCR. The firm is reportedly seeing a lot of traction in Noida so more than 90 per cent of its future inventory will come there. Its existing building is almost fully occupied so it is on the lookout for fresh property. The new asset should be ready by October. Smartworks acquires entire buildings and converts them into coworking campuses, unlike other coworking operators that usually acquire a floor or portions of a commercial building. The company plans to have 3 mn sq ft of office space in NCR in three years.

Contact: Smartworks.

Website: www.smartworksoffice.com