Smartworks leases 82000 sq ft in Mumbai

Flexible workspaces provider Smartworks has leased an 82,000 sq ft facility in Mumbai, taking its total footprint in India to 1.5 million sq ft.

“This lease in Mumbai is in line with our massive expansion spree across India. We plan to expand our footprint to at least 10 million sq ft over the next three to five years, with a focus on the west and south India,” Neetish Sarda, founder of Smartworks, said in a statement here.

The new facility on Andheri Kurla Road has been pre-booked by 40 per cent and is scheduled to be operational from January 2019. Some of the clients working out of new Mumbai facility include Marsh Insurance and NEC. The centre provides close proximity to Bandra-Kurla complex, airport and the Western Express Highway, connecting the entire city.

Smartworks’ other corporate clients include fortune 50 companies like Tata Communications, Microsoft, Arcelor Mittal, Amazon, Daikin, Lenovo, Bacardi, and OLX among others. According to a CBRE report, flexible space operators have grown rapidly in recent years, reaching a total footprint of just under 40 million sq ft as of H1 2018 in 16 major Asia Pacific cities, including NCR, Mumbai and Bengaluru.

“We have chosen the locations in Mumbai quite strategically as Smartworks primarily caters to enterprises. Hence, it becomes crucial to have convenient locations within the city for office goers. We have seen a shift in Mumbai in terms of office leasing by corporates which has added to the growth of managed workspaces as a segment,” Sarda added.