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Smartworks, a leading co-working firm in India, is expanding its footprint with a new centre in Gurugram s Cyber City. With over 8 million sq ft across 14 cities, it plans to raise $70-90m for future growth. The flexible office space industry is estimated to reach 81 million sq ft by 2025.
The relaxation of Special Economic Zone (SEZ) regulations, coupled with growing demand for flexible office solutions, is poised to enhance the availability of grade-A office spaces. This development has the potential to alleviate the prolonged scarcity in a high-demand market segment. Additionally, partial de-notification is anticipated to release space formerly designated for domestic business purposes.