As Demand Rises For Co-working & Flexi Office Spaces, Enzyme Office Spaces Gears Up With Expansion Plans

Ashish Agarwal, the Co-founder and CEO of Enzyme Office Spaces, a co-working and managed workspace chain with headquarters in Bengaluru. He is responsible for the company’s development and expansion, driving strategic initiatives and forging partnerships to propel Enzyme Office Spaces’s growth in the competitive co-working industry.  With a passion for redefining the contemporary business landscape, he is committed to transforming the way people work and thrive in future workspaces.

Under his leadership, Enzyme Office Spaces has established itself as a prominent participant in the co-working innovation industry and is undergoing rapid expansion, with nine locations in India encompassing millions of square feet of workspace infrastructure and providing over 20,000 active seats.

Ashish intends to achieve a fivefold expansion of Enzyme office spaces by 2026 as a result of his ambitious vision. He actively pursues partnerships and collaborations to expand into new markets, particularly Hyderabad, Pune, and the Delhi-National Capital Region. Ashish aims to serve a diverse clientele of entrepreneurs and businesses by providing completely furnished, dedicated office space to start-ups and multinational corporations. 

Ashish discusses his plans and strategy is an exclusive interview with Realty & More: 

Q. Tell us something about Enzyme?

Since 2014, Enzyme Office Spaces is Bangalore’s premier plug-and-play office solutions provider and is focused on helping companies, entrepreneurs, start-ups or small business owners overcome obstacles such as high overhead infrastructure cost and limited access to designer offices. With over 25,000 seats across Bangalore, Enzyme Office Space has managed workspaces at 28 locations across the city. Key locations where we are present are,  HSR Layout, Koramangala, Domlur and Sarjapur road among others with a total of 25,000 seats. Established in 2014, it has emerged as one of the fastest growing players in the city and has over 10 million square feet of office space under its kitty and is looking to add another 3 lakh square feet of office space in the current financial year.

Q. In your opinion, what are the main factors driving the integration of coworking and flexible office spaces into the CRE landscape in India?

In my view the change in mindset is the key reason. Today, businesses are ready to experiment and try out new things. Since our working styles and preferences has experienced a paradigm shift, working is not confined within the monotonous cubicle system. As both employees and enterprises are looking for flexibility, personalized experiences and a sense of community and belongingness, the flex segment is offering them the right solution.

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Q. What kind of demand do you see for managed and flexible office spaces in India?

The surging demand for flex spaces can be attributed mainly to the changing preferences of occupiers post pandemic.  The office segment took the road to recovery and began to rebound with agility, the market witnessed a sharp uptick in rental and leasing prices with demand for flexible office at an all-time high. Many enterprises prefers managed models due to flexibility and lower cost. Moreover, flex space arrangements seemed viable for near to medium term space requirements of occupiers. Apart from these, there are other factors like customization, tech enablement and locational advantages which acted as demand drivers.

Q. What are the key trends that you envision in the managed office space landscape evolving over the next few years? 

In the age of flexible workplace solutions, managed office spaces have always been driven by the imperative to offer a versatile work setting. However, the significance of agile workspaces is set to expand even further in 2023 and the coming years. This heightened role arises from their capacity to empower employees with the flexibility to customize their workspace usage. This evolution is likely to be shaped by a variety of trends including the integration of technology, the rise of coworking as a service, the influence of digital marketing, and the emergence of innovative work environments.

Q. What are your plans for Enzyme?

In this year & by 2024, we want to capture the Bangalore market from North to South and from East to West. We have plans to expand to two more cities by the year 2025 and mostly it will be Hyderabad and Noida.

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