Co-working firms share in office leasing jumps to 20% in Jan-Jun, ETHRWorld

New Delhi: Co-working operators are opening new centres to tap rising demand for flexible workspace and their share in the overall office space leasing jumped to 20 per cent during January-June, according to Anarock. In April, real estate consultant Anarock entered into this segment by acquiring 75 per cent stake in myHQ, a booking platform for co-working spaces, in a cash and stock deal of around Rs 125 crore. myHQ, which is headquartered in Delhi-NCR, has over 50,000 subscribed members. As per the data, the total net absorption of office space across seven major cities stood at 20.8 million square feet in the first half of this calendar year. In this, the share of co-working spaces stood at 20 per cent.

In H1 (January-June) 2021, its share was just 6 per cent of net office absorption of about 9.33 million square feet.

Corporates are preferring co-working centres, which include managed office space, to cut capital expenditure and enjoy flexibility in scaling up or down their businesses.

If we look at city-wise breakup, the demand for co-working space is the highest in Pune, as the share of flex space was 45 per cent out of total net leasing of office space of 2.55 million square feet.

In Bengaluru, the net leasing of office space stood at 6.1 million…