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The Office Pass (TOP) plans to open 2 new neighbourhood Co-working spaces by Diwali

Gurugram, August 31, 2022: Neighbourhood Coworking operator The Office Pass (TOP), which currently runs 12 Coworking offices in Delhi NCR, plans to open 2 new offices in the city before Diwali. A press release issued by the company says that, this expansion is a result of strong demand for flexible workspace post covid. 

The first office will be launched in September 2022 at Sector 3, Noida (walking distance from Sector 16 metro station). This will be followed by the second office at Unitech Cyber Park, Sec 39, Gurgaon (near HUDA City Centre metro station). The latter will be launched in October 2022 around the festival of Diwali. They will have a combined capacity of over 650 seats. 

“As companies move away from traditional leases and people prefer to work from an office close to their place of residence, we are experiencing good demand for our Neighborhood Coworking model. This has encouraged us to scale faster. If there are no covid related disruptions & business sentiment remains unaffected by the impending global slowdown, we hope to open one new Coworking office every 45 – 60 days,” said Aditya Verma, Founder & CEO, The Office Pass (TOP).

Commenting on the company’s expansion Brijesh Damodaran, Partner, Auxano Capital one of the early investors in The Office Pass (TOP) said, “TOP is the first player in the Neighbourhood Coworking space and today it’s a market leader in this space. Managing the working capital efficiently along with being diligent in identifying new office spaces has been its USP. Increasing its geographical reach outside of NCR is the next big step for TOP and 2022 should see this in action.”

The Indian flex space market has seen huge growth over the last few years. According to JLL’s office market report, India’s average penetration rate for the top seven cities could reach around the 4.0-4.5% mark over the next two years.