Smartworks rents out 5.6 lakh sq ft office space at M-AGILE Pune
Real Estate

Smartworks rents out 5.6 lakh sq ft office space at M-AGILE Pune

Smartworks announced that it acquired on lease 5.6 lakh sq ft of office space at the co-working centre M-AGILE in Pune, the largest flexible office space deal in India. The firm spent nearly Rs 150 crore on this project..

The company said that the office space has over 8,500 seats. It is already booked at 40% capacity by IT-ITeS, BFSI, and manufacturing customers..

The space is likely to open in September, and JLL India expedited the deal..

The space is an exclusive corporate neighbourhood and links to places such as the Hinjewadi IT Park, Balewadi High Street, and Mumbai-Pune Expressway..

Neetish Sarda, the Smartworks founder, revealed that before this transaction, the largest deal in this area was in 2019, WebWorks’ 2.5-lakh sq ft facility in Hyderabad..

Sanjay Bajaj, JLL India MD Pune, revealed that Flex space stock has developed in Pune by more than four times from 0.7 MSF in 2017 to 3 MSF in 2021, and it has presented a huge growth opportunity.

He said that moving forward, they expect the flex market in Pune to reach nearly 5 MSF by 2022.

Smartworks has a footprint of over 4 MSF and 31 centres in Bengaluru, Hyderabad, Delhi, Noida, Gurugram, Mumbai, Pune, Chennai, and Kolkata.

Image Source


Also read: Prestige Group plans Rs 3,500 cr investment for office space in Mumbai

Also read: RBI seeks additional office space near head office in south Mumbai

Smartworks announced that it acquired on lease 5.6 lakh sq ft of office space at the co-working centre M-AGILE in Pune, the largest flexible office space deal in India. The firm spent nearly Rs 150 crore on this project.. The company said that the office space has over 8,500 seats. It is already booked at 40% capacity by IT-ITeS, BFSI, and manufacturing customers.. The space is likely to open in September, and JLL India expedited the deal.. The space is an exclusive corporate neighbourhood and links to places such as the Hinjewadi IT Park, Balewadi High Street, and Mumbai-Pune Expressway.. Neetish Sarda, the Smartworks founder, revealed that before this transaction, the largest deal in this area was in 2019, WebWorks’ 2.5-lakh sq ft facility in Hyderabad.. Sanjay Bajaj, JLL India MD Pune, revealed that Flex space stock has developed in Pune by more than four times from 0.7 MSF in 2017 to 3 MSF in 2021, and it has presented a huge growth opportunity. He said that moving forward, they expect the flex market in Pune to reach nearly 5 MSF by 2022. Smartworks has a footprint of over 4 MSF and 31 centres in Bengaluru, Hyderabad, Delhi, Noida, Gurugram, Mumbai, Pune, Chennai, and Kolkata. Image Source Also read: Prestige Group plans Rs 3,500 cr investment for office space in Mumbai Also read: RBI seeks additional office space near head office in south Mumbai

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?