Awfis has set up its first space, spread over 65,000 sq. ft at Gemini Circle, Nungambakkam
Awfis, a homegrown coworking service provider, has entered the Chennai market and has set up its first space, spread over 65,000 sq. ft at Gemini Circle, Nungambakkam. This centre has 1,200 seats.
“Chennai is an untapped market with great underlying potential for the flexible workspace sector. With industries opening up to the flexible/shared workspace concept, we are confident that this trend will continue to grow,” said Amit Ramani, CEO and Founder, Awfis.
He added, “Due to pandemic-induced restrictions, even the most traditional companies will see merit in setting up satellite offices outside metros, with offices spread across multiple locations to help people work near home or to enable distributed workspace model.” Mr. Ramani also pointed out that with good connectivity to metro trains, Chennai as a market had tremendous potential in the coworking space.
Over the next 12-18 months, the firm intended to scale up to 5-6 centres in Chennai. “By March 2021, we will add the next three centres,” Mr. Ramani said and added that the firm was looking at places, including Anna Salai, T. Nagar and Guindy. Plans were on cards to enter tier-2 towns in Tamil Nadu. Awfis currently had 67 operational coworking centres with 35,000+ seating capacity. It had 10 centres in Bengaluru, eight in Hyderabad, along with multiple centres in Mumbai, Delhi, Kolkata, among other prominent cities across India. The firm intended to create workspaces with over 2,00,000 seats in 15 cities in the next 36 months. These centres would cater to large corporates, SMEs as well as start-ups.
According to data provided by real estate research firm, Jones Lang LaSalle (JLL), Chennai has over 17.9 lakh sq. ft. of coworking stock with 33,383 seats of which the total absorption is 22,579.
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