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Smartworks ties up with 2 realtors for largest co-working space deal

Co-working space company Smartworks has signed a pact with Amar Builders and Pristine Properties in Pune to set up India’s largest co-working facility. Smartworks has leased 5,00,000-sq ft space in an upcoming project, Amar Pristine Eighty Three (AP83), in Koregaon Park.

The facility will be operational by 2021. With this new facility, Smartworks retains its market leadership position in Pune and also claims to be a leader across the country in this space. AP83 is the largest deal in terms of space signed by any co-working space provider in India.

Smartworks has over 6,000 seats across its four facilities in Pune with over 90% occupancy and AP83 will be its fifth facility in the city.

This facility would have green certification and design implementation of the Internet of Things (IoT) for building management. Neetish Sarda, the founder of Smartworks, said with robust office space demand in Pune, their new facility would help in meeting office space demand in the region and Pune was geared to lead the next wave of growth.

Smartworks recently raised $25 million from Singapore-based Keppel Land, a real estate developer, and multi-faceted property firm. Presently, Smartworks has 23 operational centers in nine cities, offering a total of about 43,000 workstations spread over 2.3 million sq ft in the Delhi-National Capital Region, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai, and Pune. Smartworks caters to over 400 organizations, comprising mainly large enterprises and high-growth start-ups such as Amazon Web Services, Bacardi, DHL, Ernst & Young, Hitachi, Jaguar Land Rover Automotive, Microsoft Corporation, and Petronas.

Smartworks inks largest coworking deal in Pune with 0.5m sqft

Mumbai, Nov 18 (PTI) In the largest deal in the shared office space in the country, the Noida-based SmartworksCoworking has leased out a 5-lakh sqft-area from the upcoming commercial project Amar Pristine Eighty-Three (AP83) in Pune.

This is the fifth facility for the company in Pune and will be operational by 2021, the company said. It already has a portfolio of 6,000 seats in the city.

According to reports, the second-largest single-location deal in this space was struck by WeWorks which picked up 1.22 lakh sqft space in Pune.

According to the JLL estimate, around 330 flexible workspace operators are present in the top seven cities now.

The average size of transactions in the co-working segment has increased from 37,000 sqft in 2017 to 52,000 sqft in 2018 and further to 97,000 sqft in the first half of 2019.

Smartworks, which recently raised USD 25 million from the Singapore-based Keppel Land, operates in nine cities, offering about 43,000 workstations spread over 2.3 million sqft of space.

‘AP83 is the largest deal in terms of the area signed by any co-working space provider. We have picked up nearly 60percent of the space that is being jointly developed by AmarBuilders and Pristine Properties at Koregaon Park in Pune,’ Smartworks founder Neetish Sarda told PTI on Tuesday.

This is Smartworks’ second tie-up with Amar Buildersafter the 1.5 lakh sqft facility at Baner in Pune.

Sarda said with the deepening slowdown in the real estate sector, commercial property developers are exploring various opportunities, including partnering with coworking space operators.

‘We have adopted a lease model, where we take up the space on lease and re-lease it to other customers. Our target is to have 4 million sqft space by March 2020,’ Sarda said.

Commenting on this partnership, Amar Buildersexecutive director Hrishikesh Manjrekar said, ‘the coworking segment has gained momentum of late. Through this partnership, we plan to cater to the growing demand for curated coworking spaces in the city from enterprises and start-ups.’ PTI PSK BEN BEN

employee productivity - workspaces

Smartworks expands footprint, signs India’s largest co-working facility

Pune (Maharashtra)[India], Nov 19 (ANI/NewsVoir): Smartworks, India’s leading agile workspace provider for large enterprises, today signed a 5.00.000 sq. ft. space lease in an upcoming project, Amar Pristine Eighty – Three (AP83) in Koregaon Park, Pune with Amar Builders, and Pristine Properties. The facility will be operational by 2021. With this new facility, Smartworks retains and strengthens its market leadership position in Pune and across India.

AP83 is the largest deal in terms of space signed by any co-working space provider in India. The facility is strategically located in Koregaon Park, the most prominent and prestigious hub for the eastern commercial market of the city with excellent connectivity from all modes of local transport to the airport, railway station, and the proposed metro station. The project design emphasizes sustainable development as well as technology, with a proposed Green Certification and design implementation of IoT for building management. The project offers one the largest floor plates within the micro-market and is an ideal destination for growing business within the ever-growing Pune commercial market.

Smartworks has over 6000 seats across its four facilities in Pune with over 90% occupancy; AP83 will be its 5th facility in the city.

Commenting on the deal, Neetish Sarda, Founder of Smartworks said, “We are delighted to partner with Amar Builders and Pristine Properties for our largest coworking space in the country. We have received an incredible response from Pune, and with robust office space demand, we believe the city is all geared up to lead the next wave of growth. This new facility will add to our growing portfolio and help us meet the office space demand from the enterprises in the region.”

Commenting on this partnership, Hrishikesh Manjrekar Executive Director – Amar Builders said, “The coworking segment has gained momentum in the last few years. We are happy to partner with Smartworks to cater to Pune’s ever-growing demand for curated coworking spaces for enterprise and start-up segment. With the strategic location and design that maximizes the spotlight, AP83 offers a plethora of shops, boutiques, restaurants, and cafes under one roof and hence is a preferred office location.

Smartworks and Amar Builders have joined hands for the second time after the success of its 1.5 lakh sq. ft. area facility, ASTP, in Baner, Pune. We look forward to strengthening our association on future projects as well,” he added.

Commenting further, Pritam Goyal, Managing Director of Pristine Properties said, “Smartworks’ consistent dedication to client-centric values, has made them a leader in delivering office experience, and we are thrilled to partner with them on this project. AP83 is one of the most prestigious projects, and we are confident that it will offer its occupants the optimal environment for their new office spaces.”

Smartworks recently raised the US $25 million from Singapore based Keppel Land – Asia’s premier real estate developer and multi-faceted property company. Presently, Smartworks has 23 operational centres in nine cities, offering a total of about 43,000 workstations spread over 2.3 million sq. ft.

At present, Smartworks caters to over 400 organizations, comprising mainly large enterprises and high-growth start-ups such as Amazon Web Services, Bacardi Limited, DHL, Ernst & Young, Hitachi, Jaguar Land Rover Automotive PLC, Microsoft Corporation, Petronas, Red Hat, Ricoh, and Samsung.

About Smartworks

Smartworks is India’s largest provider of agile workspaces, with a footprint of 2.3 million sq. ft. across 23 locations in 9 cities (Delhi NCR, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai, and Pune) catering to more than 400 organizations across large enterprises, SMEs and start-ups. Founded in April 2016, Smartworks is redefining the Indian office experience by focusing on design, hospitality, technology, and customer delight experience. Smartworks is also the only Indian agile workspace provider to have become profitable in India.

Central to this ambition is the company’s motto, ‘Workspaces that work for you,’ with the vision of creating the perfect environment by just not building communities, but also ensuring their member employees are productive in the workplace.

Smartworks expands footprint, signs India’s largest co-working facility

Pune (Maharashtra)[India], Nov 19 (ANI/NewsVoir): Smartworks, India’s leading agile workspace provider for large enterprises, today signed a 5.00.000 sq. ft. space lease in an upcoming project, Amar Pristine Eighty – Three (AP83) in Koregaon Park, Pune with Amar Builders, and Pristine Properties. The facility will be operational by 2021. With this new facility, Smartworks retains and strengthens its market leadership position in Pune and across India.

AP83 is the largest deal in terms of space signed by any co-working space provider in India. The facility is strategically located in Koregaon Park, the most prominent and prestigious hub for the eastern commercial market of the city with excellent connectivity from all modes of local transport to the airport, railway station, and the proposed metro station. The project design emphasizes sustainable development as well as technology, with a proposed Green Certification and design implementation of IoT for building management. The project offers one the largest floor plates within the micro-market and is an ideal destination for growing business within the ever-growing Pune commercial market.

Smartworks has over 6000 seats across its four facilities in Pune with over 90% occupancy; AP83 will be its 5th facility in the city.

Commenting on the deal, Neetish Sarda, Founder of Smartworks said, “We are delighted to partner with Amar Builders and Pristine Properties for our largest coworking space in the country. We have received an incredible response from Pune, and with robust office space demand, we believe the city is all geared up to lead the next wave of growth. This new facility will add to our growing portfolio and help us meet the office space demand from the enterprises in the region.”

Commenting on this partnership, Hrishikesh Manjrekar Executive Director – Amar Builders said, “The coworking segment has gained momentum in the last few years. We are happy to partner with Smartworks to cater to Pune’s ever-growing demand for curated coworking spaces for enterprise and start-up segment. With the strategic location and design that maximizes the spotlight, AP83 offers a plethora of shops, boutiques, restaurants, and cafes under one roof and hence is a preferred office location.

Smartworks and Amar Builders have joined hands for the second time after the success of its 1.5 lakh sq. ft. area facility, ASTP, in Baner, Pune. We look forward to strengthening our association on future projects as well,” he added.

Commenting further, Pritam Goyal, Managing Director of Pristine Properties said, “Smartworks‘ consistent dedication to client-centric values, has made them a leader in delivering office experience, and we are thrilled to partner with them on this project. AP83 is one of the most prestigious projects, and we are confident that it will offer its occupants the optimal environment for their new office spaces.”

Smartworks recently raised the US $25 million from Singapore based Keppel Land – Asia’s premier real estate developer and multi-faceted property company. Presently, Smartworks has 23 operational centres in nine cities, offering a total of about 43,000 workstations spread over 2.3 million sq. ft.

At present, Smartworks caters to over 400 organizations, comprising mainly large enterprises and high-growth start-ups such as Amazon Web Services, Bacardi Limited, DHL, Ernst & Young, Hitachi, Jaguar Land Rover Automotive PLC, Microsoft Corporation, Petronas, Red Hat, Ricoh, and Samsung.

About Smartworks

Smartworks is India’s largest provider of agile workspaces, with a footprint of 2.3 million sq. ft. across 23 locations in 9 cities (Delhi NCR, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai, and Pune) catering to more than 400 organizations across large enterprises, SMEs and start-ups. Founded in April 2016, Smartworks is redefining the Indian office experience by focusing on design, hospitality, technology, and customer delight experience. Smartworks is also the only Indian agile workspace provider to have become profitable in India.

Central to this ambition is the company’s motto, ‘Workspaces that work for you,’ with the vision of creating the perfect environment by just not building communities, but also ensuring their member employees are productive in the workplace.
This content is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

Smartworks signs India’s largest co-working space deal in Pune

Smartworks, India’s leading agile workspace provider for large enterprises has leased 500,000 sq ft space in an upcoming project Amar Pristine Eighty-Three (AP83) in Koregaon Park, Pune with Amar Builders, and Pristine Properties.

The facility will be operational by 2021, said a press statement by Smartworks.

“AP83 is the largest deal in terms of space signed by any co-working space provider in India. The facility is strategically located in a prestigious hub for the eastern commercial market of the city with excellent connectivity from all modes of local transport to the airport, railway station, and the proposed metro station” the press release added. The project offers one the largest floor plates within the micro-market.

Smartworks has over 6,000 seats across four facilities in Pune with over 90 per cent occupancy; AP83 will be its fifth facility in the city.

Neetish Sarda, the founder of Smartworks, said, “We have received an incredible response from Pune, and with robust office space demand, we believe the city is all geared up to lead the next wave of growth. This new facility will add to our growing portfolio and help us meet the office space demand from the enterprises in the region.”

Smartworks recently raised $25 million from Singapore based Keppel Land – Asia’s premier real estate developer and multi-faceted property company. Presently, Smartworks has 23 operational centres in nine cities, offering a total of about 43,000 workstations spread over 2.3 million sq ft, the press statement added.

Smartworks ties up with 2 realtors for largest co-working space deal

This facility would have green certification and design implementation of the Internet of Things (IoT) for building management. Neetish Sarda, the founder of Smartworks, said with robust office space demand in Pune, their new facility would help in meeting office space demand in the region and Pune was geared to lead the next wave of growth.

Co-working space company Smartworks has signed a pact with Amar Builders and Pristine Properties in Pune to set up India’s largest co-working facility. Smartworks has leased 5,00,000-sq ft space in an upcoming project, Amar Pristine Eighty Three (AP83), in Koregaon Park.

The facility will be operational by 2021. With this new facility, Smartworks retains its market leadership position in Pune and also claims to be a leader across the country in this space. AP83 is the largest deal in terms of space signed by any co-working space provider in India.
Smartworks has over 6,000 seats across its four facilities in Pune with over 90% occupancy and AP83 will be its fifth facility in the city.

This facility would have green certification and design implementation of the Internet of Things (IoT) for building management. Neetish Sarda, the founder of Smartworks, said with robust office space demand in Pune, their new facility would help in meeting office space demand in the region and Pune was geared to lead the next wave of growth.

Smartworks recently raised $25 million from Singapore-based Keppel Land, a real estate developer and multi-faceted property firm. Presently, Smartworks has 23 operational centres in nine cities, offering a total of about 43,000 workstations spread over 2.3 million sq ft in Delhi-National Capital Region, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai and Pune. Smartworks caters to over 400 organisations, comprising mainly large enterprises and high-growth start-ups such as Amazon Web Services, Bacardi, DHL, Ernst & Young, Hitachi, Jaguar Land Rover Automotive, Microsoft Corporation and Petronas.

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Smartworks expands footprint, signs India’s largest co-working facility

Smartworks, India’s leading agile workspace provider for large enterprises, today signed a 5.00.000 sq. ft. space lease in an upcoming project, Amar Pristine Eighty – Three (AP83) in Koregaon Park, Pune with Amar Builders, and Pristine Properties. The facility will be operational by 2021. With this new facility, Smartworks retains and strengthens its market leadership position in Pune and across India.

AP83 is the largest deal in terms of space signed by any co-working space provider in India. The facility is strategically located in Koregaon Park, the most prominent and prestigious hub for the eastern commercial market of the city with excellent connectivity from all modes of local transport to the airport, railway station, and the proposed metro station. The project design emphasizes sustainable development as well as technology, with a proposed Green Certification and design implementation of IoT for building management. The project offers one the largest floor plates within the micro-market and is an ideal destination for growing business within the ever-growing Pune commercial market.

Smartworks has over 6000 seats across its four facilities in Pune with over 90% occupancy; AP83 will be its 5th facility in the city.

Commenting on the deal, Neetish Sarda, Founder of Smartworks said, “We are delighted to partner with Amar Builders and Pristine Properties for our largest coworking space in the country. We have received an incredible response from Pune, and with robust office space demand, we believe the city is all geared up to lead the next wave of growth. This new facility will add to our growing portfolio and help us meet the office space demand from the enterprises in the region.”

Commenting on this partnership, Hrishikesh Manjrekar Executive Director – Amar Builders said, “The coworking segment has gained momentum in the last few years. We are happy to partner with Smartworks to cater to Pune’s ever-growing demand for curated coworking spaces for enterprise and start-up segment. With the strategic location and design that maximizes the spotlight, AP83 offers a plethora of shops, boutiques, restaurants, and cafes under one roof and hence is a preferred office location.

Smartworks and Amar Builders have joined hands for the second time after the success of its 1.5 lakh sq. ft. area facility, ASTP, in Baner, Pune. We look forward to strengthening our association on future projects as well,” he added.

Commenting further, Pritam Goyal, Managing Director of Pristine Properties said, “Smartworks’ consistent dedication to client-centric values, has made them a leader in delivering office experience, and we are thrilled to partner with them on this project. AP83 is one of the most prestigious projects, and we are confident that it will offer its occupants the optimal environment for their new office spaces.”

Smartworks recently raised the US $25 million from Singapore based Keppel Land – Asia’s premier real estate developer and multi-faceted property company. Presently, Smartworks has 23 operational centres in nine cities, offering a total of about 43,000 workstations spread over 2.3 million sq. ft.

At present, Smartworks caters to over 400 organizations, comprising mainly large enterprises and high-growth start-ups such as Amazon Web Services, Bacardi Limited, DHL, Ernst & Young, Hitachi, Jaguar Land Rover Automotive PLC, Microsoft Corporation, Petronas, Red Hat, Ricoh, and Samsung.

About Smartworks

Smartworks is India’s largest provider of agile workspaces, with a footprint of 2.3 million sq. ft. across 23 locations in 9 cities (Delhi NCR, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai, and Pune) catering to more than 400 organizations across large enterprises, SMEs and start-ups. Founded in April 2016, Smartworks is redefining the Indian office experience by focusing on design, hospitality, technology, and customer delight experience. Smartworks is also the only Indian agile workspace provider to have become profitable in India.

Central to this ambition is the company’s motto, ‘Workspaces that work for you,’ with the vision of creating the perfect environment by just not building communities, but also ensuring their member employees are productive in the workplace.

This content is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

coworking space in omr

Smartworks inks largest coworking deal in Pune with 0.5m sqft

This is the fifth facility for the company in Pune and will be operational by 2021, the company said. It already has a portfolio of 6,000 seats in the city. According to reports, the second largest single- location deal in this space was struck by

MUMBAI: In the largest deal in the shared office space in the country, the Noida-based Smartworks Coworking has leased out a 5-lakh sqft-area from the upcoming commercial project Amar Pristine Eighty-Three (AP83) in Pune

This is the fifth facility for the company in Pune and will be operational by 2021, the company said. It already has a portfolio of 6,000 seats in the city.

According to reports, the second largest single- location deal in this space was struck by WeWorks which picked up 1.22 lakh sqft space in Pune.

According to JLL estimate, around 330 flexible workspace operators are present in the top seven cities now.

The average size of transactions in the co-working segment has increased from 37,000 sqft in 2017 to 52,000 sqft in 2018 and further to 97,000 sqft in the first half of 2019.

Smartworks, which recently raised USD 25 million from the Singapore-based Keppel Land, operates in nine cities, offering about 43,000 workstations spread over 2.3 million sqft of space.

“AP83 is the largest deal in terms of the area signed by any co-working space provider. We have picked up nearly 60 per cent of the space that is being jointly developed by Amar Builders and Pristine Properties at Koregaon Park in Pune,” Smartworks founder Neetish Sarda told PTI on Tuesday.

This is Smartworks’ second tie-up with Amar Builders after the 1.5 lakh sqft facility at Baner in Pune.

Sarda said with the deepening slowdown in the real estate sector, commercial property developers are exploring various opportunities, including partnering with coworking space operators.

“We have adopted a lease model, where we take up the space on lease and re-lease it to other customers. Our target is to have 4 million sqft space by March 2020,” Sarda said.

Commenting on this partnership, Amar Builders executive director Hrishikesh Manjrekar said, “the coworking segment has gained momentum of late. Through this partnership, we plan to cater to the growing demand for curated coworking spaces in the city from enterprises and start-ups.”

Co-working firm Smartworks raises Rs 175 cr from Keppel Land

Co-working firm Smartworks on Thursday announced raising of USD 25 million (about Rs 175 crore) from Singapore’s Keppel Land Ltd to fund its expansion plan of more than doubling the seating capacity to one lakh.

Founded in April 2016, Smartworks Coworking Spaces Pvt Ltd currently has 23 co-working centres, comprising about 43,000 seats spread over 2.3 million sq ft area, across nine cities.

“We have raised USD 25 million from Keppel Land. This is our first round of external funding. We wanted to have a strategic partner or growth. The fund will be utilised for expansion,” Smartworks founder Neetish Sarda told reporters here.

Keppel Land invests $25mn in Smartworks Coworking Space

Keppel Land Limited (Keppel Land) has invested $25mn in Smartworks Coworking Space Pvt. Ltd (Smartworks), a leading Pan-India flexible space solutions provider with a presence in nine major Indian cities, namely, Delhi, Noida, Gurgaon, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai and Pune.

Founded by Neetish Sarda and co-founded by Harsh Binani in April 2016, Smartworks has grown rapidly to become India’s market-leading provider of quality flexible spaces for enterprise companies. Presently, Smartworks has 23 operational centres in nine cities offering a total of about 43,000 workstations spread over 2.3 million sf. Its centres currently cater to over 400 organisations, comprising mainly large enterprises and high-growth startups such as Amazon Web Services, Bacardi Limited, DHL, Ernst & Young, Hitachi, Jaguar Land Rover Automotive PLC, Microsoft Corporation, Petronash, Red Hat, Ricoh and Samsung. Over the next five years, Smartworks plans to grow its footprint to 20 million sf and provide office solutions for over 200,000 working professionals.

Tan Swee Yiow, CEO of Keppel Land, said, “Smartworks’ innovative business model, coupled with its strong knowledge of the Indian enterprise office segment and execution abilities, is highly scalable and relevant, particularly in India’s growing market for commercial office spaces. This investment allows Keppel Land to enter one of the world’s fastest-growing flexible office markets, opening doors for further growth through this collaboration.

“There are also many opportunities for cross-learning and collaboration between Smartworks and Keppel Land’s smart serviced co-office platform, KLOUD, which currently has a presence in Singapore, Vietnam and Myanmar.”

Mr Neetish Sarda, Founder of Smartworks, said, “We are delighted to partner with Keppel Land, Asia’s premier real estate developer and multi-faceted property company. We are excited to continue driving our exponential growth in our mission to deliver lasting and affordable office experiences with state-of-the-art office infrastructure and recreational facilities for India’s leading enterprises in partnership with Keppel Land.

“The flexible space segment in India has been growing rapidly, and Smartworks has been an active participant in this business over the past three years, with a large and widespread network across nine cities. Smartworks is also already cash flow positive and is profitable at a consolidated level. With this strategic investment by Keppel Land, we will be able to scale up even more rapidly across India’s Tier 1 and Tier 2 cities and further invest in building up our next generation product, improving client experiences, as well as boosting our talent and technology.”

Smartworks provides office spaces which can be rapidly configured and customised in just four to six weeks according to the needs of their enterprise clients, offering a full suite of solutions at a value price point without upfront capital expenditure. All of its centres include common amenities such as cafeterias, meeting spaces, training rooms, crèches, gymnasiums and first aid clinics, which have been well-received by clients. Smartworks was also the first agile space provider in India to use a humanoid robot for operational duties.

Strong economic fundamentals, growing urbanisation and the government’s pro-business policies have led to India attracting an influx of foreign investment across all sectors, in particular, the property market. Leasing activity in the commercial real estate segment rose by 40% year-on-year (y-o-y), crossing 30 million sf in the first half of 2019, the highest recorded, and is poised to reach 50 million sf by end-2019. Within this segment, the flexible space market has risen by 52% y-o-y in the first half of 2019.

The above transaction is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.