The company has already delivered 1.2 million square feet of office space
to several clients post the pandemic outbreak in cities such as Bengaluru, Delhi-NCR, Pune, and Hyderabad. It offers dedicated workspaces to clients in terms of design, fitouts, meeting rooms, recreational areas etc.
Simpliwork is next targeting Mumbai and would have centres coming up there in the next two quarters. “Over the next two years we will deliver at least 500,000 square feet office space
in Mumbai,” said Walia, whose company has so far delivered 2.4 million square feet of flexible office spaces in total to medium and large enterprises with an investment of up to Rs 500 crore in customisation.
According to a JLL report, India’s office market witnessed a net absorption of 5.4 million sq ft in quarter ending September, an increase of 64 per cent versus quarter ending June 2020.
“While we continue to see the impact of the pandemic on various businesses, there is a significant surge in activity across most office markets under consideration. This is seen in gross leasing which more than doubled from the previous quarter at 13.8 million sq ft. At the same time, it is important to note that large and mid-sized occupiers across major markets continue to review their real estate portfolios in a bid to optimise cost, higher emphasis is being given on sustainability and employee well-being as well as adoption of flexible working practices.” said Ramesh Nair, CEO and Country Head, India, JLL.
As Simpliwork’s nature of business requires multi-year contracts which are anywhere between 3 year and 5 years, it has not witnessed any fall through with any client post Covid spread.