Smartworks, a leading provider of flexible workspace solutions, has leased a massive 4.7 lakh square feet of office space in Gurugram, a move that highlights the company’s growing demand in the region. This lease marks the fourth managed campus for Smartworks in Gurugram, further establishing its presence in the city.
Smartworks Expands in Gurugram : Growing Demand for Managed Campuses
The leased office space is located in DLF Commercial Building in DLF City-V, Gurugram. This expansion is a testament to the increasing demand for fully managed and serviced campuses, as stated by Neetish Sarda, founder at Smartworks. The company operates 45 centres across 13 cities, with a total super built-up area of 9.12 million square feet as of August 14, 2024.
Smartworks Prepares for Initial Public Offering (IPO)
Smartworks has received approval from the Securities and Exchange Board of India (Sebi) to launch an initial public offering (IPO), which is expected to raise around Rs 659 crore. The company plans to use the funds from the IPO to repay loans and for general corporate purposes. Singapore-based Keppel Ltd is a significant backer of Smartworks, having invested $29 million since 2019.
Growth and Expansion Plans of Smartworks
As Smartworks continues to growth in Gurugram and other regions, the company is poised to play a significant role in the flexible workspace industry. With its fourth managed campus in Gurugram, Smartworks is a strong contender in the market, and its IPO plans are expected to further accelerate its growth.
Regional and Market Trends
The expanding demand for managed campuses is reshaping the commercial real estate industry, with companies like Smartworks at the forefront of this change. This trend is expected to continue, with more companies seeking out flexible, managed, and serviced spaces to accommodate their growing needs.
