Your Weekly Dose of News from the Commercial Real Estate Industry
Etherea leases 2,60,000 sq ft at Bhutani Group's Noida project
Renowned co-working and managed office provider Etherea Coworking has acquired 2,60,000 sq. ft. in two buildings owned by the Bhutani Group , located in Sector 127 and 62 in Noida. It is in addition to their workspace in the Bhutani Group's location in Sector 90.
Ashish Bhutani , CEO of the Bhutani Group, has confirmed that Etherea has been given about 1 lakh square feet in both Bhutani Techno Park and Cyber Park, totaling 4 lakh square feet. Etherea has agreed to pay a rent rate of Rs 61 per square foot. Ashish Bhutani has observed that more people are seeking flexible office spaces, and he anticipates that this trend will continue. Last year, the Bhutani Group gave WeWork India 6.6 lakh square feet.?
Nitin Gupta , CEO of Etherea, has confirmed this new partnership and announced that the workspaces in Sectors 127 and 62 will be ready by the end of this year. He has also noticed a surge in demand for flexible workspaces and plans to expand Etherea's locations in India and overseas.?
The company is looking to expand to Dubai and Goa, and they are optimistic about launching their services in these locations early next year.
COWRKS Debuts in Pune
Leading flexible workspace provider, COWRKS , has launched a new coworking space in Pune. The space is located in Baner's business district and covers an area of 54,541 sq. ft., offering 678 desks. It features open spaces, private offices, dedicated desks, and meeting rooms and is conveniently located near the metro and other landmarks & vital facilities.
COWRKS is famous for delivering flexible workspace solutions that cater to modern business demands. They provide ready-to-use offices or tailored spaces to match specific needs.?
Launching the Pune centre is a significant step in the company's growth strategy and enhances its presence in India's prominent business zones.
Parul Thakur , Business Head at COWRKS, expressed excitement about the Pune launch. Pune is recognised for its thriving business scene and dynamic entrepreneurial energy, and COWRKS aims to create an environment that fuels both startups and multinational companies. With its unique workspace solutions, the Pune centre is expected to become a pivotal place for the city's business community.
The Pune Center offers world-class infrastructure and promotes a sense of community. The centre is also equipped with state-of-the-art technology, including wireless video conferencing in meeting rooms and a user-friendly app that provides access to various services.
Tesla to open the first India office in Pune
领英推荐
Elon Musk's Tesla secured an office space in Pune's Panchshil Business Park. The location is in Viman Nagar and covers 5,850 square feet on the first floor of the B wing. The agreement between Tesla India Motor, Energy Pvt Ltd, and Tablespace Technologies Pvt Ltd for the leased space is set for five years.
Tesla will pay ?11.65 lahks per month for the space and has placed a security deposit of ?34.95 lahks, spread over 60 months. The contract included parking for five cars and ten bikes and was signed on July 26, 2023.
The rental agreement has a lock-in period of 36 months with a yearly rent increase of 5%. Rent will start from October 1, 2023.
Panchshil Business Park is currently under development and spans over 10,77,181 square feet. It is centrally located near Nagar Road and only three kilometres from Pune International Airport. Additionally, it's close to residential areas like Kalyani Nagar and Koregaon Park.
Tesla's entry into India began in Bengaluru in 2021, but its progress could be faster. Reports from May suggest that Tesla plans to establish an electric vehicle factory and battery manufacturing in India. The minister of state for electronics and information technology, Rajeev Chandrasekhar , highlighted Tesla's profound interest in India.
During a recent visit to the US, Musk met with India's Prime Minister, Narendra Modi . Musk expressed his eagerness to establish Tesla in the country as soon as possible and build a production facility in India.
BW Business World's Inaugural Event on Flex
BW Businessworld is a well-known name in the world of business journalism. They are always ahead of the curve in recognizing emerging trends in the corporate world. One of their commendable initiatives is the BW Flex Spaces Conclave & Awards 2023. This event highlighted the rapid changes in workspaces, especially the rise of flexible spaces in the post-pandemic era.
The BW Flex Spaces Conclave & Awards 2023 was an essential platform for industry experts to come together, discuss, and plan for the future of third-party-operated workspaces. The event acknowledged the industry's ongoing changes and praised how these spaces have adapted to the new normal.
Over 100 award applications were received, and 39 nominees were shortlisted. Each nominee presented their case to a distinguished jury panel. The selection criteria included innovative approaches, tangible impacts, resources used, and quantifiable performance outcomes. The jury included influential figures such as Anuj Puri of ANAROCK Property Consultants, Annurag Batra from BW Businessworld , and Dr. Binti Singh of KRVIA .
A notable event highlight was the insights shared by Paras Arora , the founder of Qdesq . He stood out as a powerful speaker, shedding light on the role of Qdesq in this evolving landscape.