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The Executive Centre to open five new centres in India

Thursday, 18 Jun 2020
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Hong Kong-based The Executive Centre (TEC), which provides premium serviced office space, will make an investment of over Rs 100 crore in India. The capital expenditures will mostly be on creating physical and IT infrastructure. 
 
As part of its expansion plan, the company will open five new co-working facilities in the country. The five new centres will come up at Bengaluru, Gurugram, Chennai and Pune. 
 
TEC has already taken on lease nearly two lakh sqft area of office space to start these facilities. These centres have a capacity of around 2,300 desks.They will become operational by March 2021. 
 
TEC, which entered India in 2008 with its first property in Mumbai, currently has around 30 centres, spread over eight lakh sqft with a capacity of 8,000 desks across major cities. 
 
The company is bullish on the demand for flexible office space post COVID-19 as corporates will look to cut capital expenditure on setting up their own offices. 
 
The company's revenue stood at around USD 35 million during FY20 and will grow further with opening of new facilities. 
 
There are 1,000 operational co-working centres, with a capacity of over four lakh seats, across six cities namely, Delhi-NCR, Bengaluru, Mumbai, Pune, Hyderabad and Chennai. 
 
The number of flexible space operators has risen from single digits to around 350 over the last three to four years.

 

 
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