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Smartworks Coworking Spaces Ltd has leased 1.41 lakh sq ft of office space at Bharti Real Estate's Worldmark commercial development in Aerocity, Delhi, as part of its ongoing expansion in the Delhi-NCR office market. The Gurugram-based flexible workspace operator will invest INR 25 crore to establish a new centre, which is expected to become operational by September. The expansion comes amid sustained demand for premium office space, particularly from Global Capability Centres (GCCs), and further strengthens the company's presence in one of India's largest enterprise office markets. As of the end of June, Smartworks operated 70 centres spanning 16.9 million sq ft across 15 cities in India and Singapore.
Smartworks Coworking Spaces Ltd has leased 1.41 lakh sq ft of office space at Bharti Real Estate's Worldmark commercial project in Aerocity, Delhi, to establish a new flexible workspace centre as part of its expansion strategy in the Delhi-NCR region. The Gurugram-based company disclosed the transaction in a regulatory filing on Wednesday, stating that it will invest INR 25 crore in developing the facility, which is scheduled to commence operations by September.
The new centre forms part of Smartworks' efforts to expand its footprint in the National Capital Region, where enterprise demand for Grade A office space has remained steady. Located in Aerocity, the Worldmark development has emerged as a prominent commercial destination, attracting occupiers across sectors due to its connectivity and business infrastructure.
Commenting on the expansion, Founder and Managing Director Neetish Sarda said that Delhi-NCR continues to be one of India's most significant enterprise office markets, while Aerocity has developed into one of the region's fastest-growing commercial hubs. He further noted that demand for premium office space from Global Capability Centres (GCCs) remains robust, adding that the new facility would strengthen Smartworks' presence in Delhi-NCR and enhance its ability to meet the evolving workspace requirements of enterprise occupiers.
The company follows an asset-light business model, under which it leases office space from real estate developers and transforms it into managed coworking centres catering primarily to large corporate clients. This approach enables Smartworks to expand its portfolio without owning commercial assets while responding to changing workplace requirements among enterprises.
According to the company, the addition of the Aerocity centre will complement its existing network in the region and support growing demand from occupiers seeking managed office solutions in established commercial locations.
As of June 30, Smartworks managed a portfolio of 16.9 million sq ft across 70 centres located in 15 cities in India and Singapore. The latest leasing transaction with Bharti Real Estate adds another large-format workspace to its portfolio and reflects the continued expansion of organised flexible office operators in key business districts across the country.
Source - PTI
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