Co-working space company Smartworks has signed a largest co-working space deal 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 co-working space 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.