Connect with us

News

CBRE closes 2021’s biggest flex deal of Hyderabad with Smartworks

CBRE Logo

CBRE South Asia on October 26 announced this year’s biggest flex deal of Hyderabad with Smartworks, at Aurobindo Galaxy.

With businesses evaluating new working models that keep workplace flexibility at the centre, the 2,32,000-sq. ft. offering will help balance employee benefits and business profitability as companies resume normal operations, said a press release.

As of September 2021, India’s flex stock stood at ~39 mn sq. ft, with Hyderabad accounting for ~6 mn sq.ft. The city is further expected to see 15 per cent flex stock growth in the next two years following the increase in demand for IT and extended IT corridors, it said further.

Anshuman MagazineAnshuman Magazine, Chairman & CEO – India, South East Asia, Middle East & Africa, CBRE said that “It gives us immense pleasure to be the advisory and transaction partner on such a deal as it stands a testimony of our market leadership and the sector growth.”

Neetish

Neetish Sarda, Founder, Smartworks, said, “Our rapid growth and expansion in Hyderabad over the last three years is driven by strong market fundamentals and an uptick in demand for flexible workspaces post-COVID. Our follow-on expansion at the state-of-the-art facility, Aurobindo Galaxy, is in line with our growth plans led by strong pre-leasing commitments from enterprises looking at fully-serviced flexible office solutions.”

Advertisement

Latest News

News5 hours ago

The real estate sector reacted cautiously to the Union Budget 2023. Here are the excerpts from a cross section of industry stalwarts

Harsh Vardhan Patodia, President, CREDAI National “Through the Union budget 23 – 24, the Government continues to focus on the empowerment...

News6 hours ago

Affordable housing gets push in Budget 

New Delhi, Feb 1, 2023:  Union finance minister Nirmala Sitharaman on Wednesday announced an outlay of ₹79,000 crore, an increase of...

Events15 hours ago

Art competition at Spectrum Metro 

Noida: Spectrum Metro, in collaboration with Motherhood Women’s and Children’s Hospital, organised a drawing and painting competition on January 26,...

News15 hours ago

Housing prices start moving up post Covid, buoyant real estate along with construction activities create jobs, says Economic Survey

New Delhi: The Economic Survey tabled in the Parliament on Tuesday, said that housing prices have started firming up after...

News1 day ago

Andhra Pradesh Kicks-Off Global Investors’ Summit 2023 with Diplomatic Meet: Over 40 Nations Participate, Among Business Delegations & Captains of the Industry

New Delhi, January 31, 2023: The Curtain Raiser to the Andhra Pradesh Global Investors’ Summit 2023, started on Tuesday with...

News1 day ago

Pacific D21 Mall, Dwarka, hosts Tekken India’s Delhi Iron Fist Tournament 2023

New Delhi: Pacific D21 Mall, Dwarka, hosted gaming tournament, Tekken India’s Delhi IronFist 2, on January 28-29, 2023. The event...

Trending