Jul 16, 2022
The Executive Centre (TEC), Asia’s largest flexible workspace provider, announced plans to invest Rs 200 crores towards its future expansion in India. The investment will be utilized to set up over 8 to 10 additional centres in the country across existing markets. The new centres will further augment TEC’s position as one of Asia’s largest flexible workspace providers. TEC aims to engineer an exemplary experience for its Members while retaining its value proposition and commitment towards curating customised space solutions.
Owing to the unparalleled disruption in the commercial real estate caused by the pandemic, the flexible workspace industry has become more relevant than ever. Organisations across sectors are reassessing their real estate holdings, both long-term and short-term, to make CAPEX more efficient. These organisations are looking for workspaces where they can scale up and scale down with the ease of accommodating new work cultures and schedules.
Speaking on the announcement, Ms. Nidhi Marwah, Group Managing Director South Asia, The Executive Centre commented, “At TEC, we are continuously anticipating new ways to facilitate the growth of our organisation and our Members as well. Post the successful investment of Rs 100 crores in 2020, our outlook for the industry remains bullish, encouraging us to double that investment to Rs 200 crores to facilitate future growth. This investment will ensure we continue to provide a melting pot of experiences, customised with an unparalleled finesse to our Members. The Indian market has always played a vital role in the success of TEC and our commitment towards the growth of this market remains unwavered.”
The flexible workspace industry seems to be the obvious choice for most businesses who want agility in their business operations. According to the JLL report titled ‘Reimagining Human Experience’, 66% of employees expect to be able to work from different locations post COVID-19. Therefore, for professional institutions, adopting flexibility in the workplace is no longer an option but a concrete requirement.
TEC’s announcement follows its successful commitment in 2020, investing Rs 100 crores, which respectively opened new centres in Pune, Bangalore and Mumbai. The company currently has over 30+ centres spread across close to one million sq feet of flexible workspace in India.