The Office Pass leases 27,000 sq ft at Unitech Cyber Park in Gurugram

Neighbourhood Coworking operator, The Office Pass (TOP) has leased 27,000 sq ft at Unitech Cyber Park in Gurgaon.

The 560-seater facility is 10th coworking office in Delhi NCR (8th in Gurgaon) for the company making it the largest Neighbourhood Coworking operator in Gurgaon.

“Riding on to the strong demand from SMEs, large enterprises and MNCs for coworking and managed spaces, we are well poised to expand our footprints from the current count to 50 in the next 24 months, ” said Nikhil Madan, co-founder of The Office Pass (TOP).

The Delhi NCR-based firm plans to open 35 neighbourhood coworking, 15 managed offices across Delhi-NCR, Mumbai and one more city to further strengthen its presence.

“These offices will cater to large corporates, SMEs, as well as start-ups, continuing to nurture the spirit of innovation and enterprise across the nation. After Delhi NCR, we would next venture out to tap the potential and opportunities in Mumbai before the end of FY22,” said Madan.

Flexible office operators see steady demand from enterprises and SME’s due to the uncertainty in the business environment and flexibility on investment commitment in the coworking space.

“The momentum towards flexible workspaces is evident from the solid revenue growth achieved by The Office Pass (TOP) post the second wave of Covid. Our business has grown by 200% in July-Sept quarter as more n more companies shift from traditional long term leases to Coworking & Managed offices, ” said Madan.

This is the thirst TOP office that has been opened during the pandemic period. The occupancy for TOP across offices has reached over 70%. With COVID showing signs of easing out, TOP plans to expand expansively to capitalise on this demand surge.

Traditionally, flexible/coworking spaces have been popular with start-ups. However, with uncertainties around the spread of the pandemic, large corporations are also looking at getting out of long-term leases and owned premises to flexible coworking workspaces.

The co-working and managed office market has disrupted the traditional work environment and has seen massive growth in the last few years.

As per Colliers International, during 2021, flexible workspace operators are likely to lease about 3 million square feet of space across the top six Indian cities.