New Delhi: US-based Sage Groups, a global publisher of books & academic journals has also joined the bandwagon to occupy flexible office spaces. Sage has inked a 9-year direct deal with Avanta India, a leading co-working operator in the National Capital Region. Sage will lease a 100-workstation space at Avanta’s co-working centre at Nehru Place.
For the uninitiated, Avanta India holds 5 premium business centers in Delhi-NCR. One in the landmark Statesman Building, and another one at the Ambadeep Tower in Connaught Place. The other premises include Park Centra Gurgaon, ITT in Nehru Place alongside one at Saket Business District.
Brands like Sage opting for flexible spaces highlights the growing prominence of the segment in India. Co-working and flexible office spaces are aggressively expanding their foothold in the overall commercial leasing landscape in India. Going forward close to 20% of the leasing will comprise co-working spaces in the country.
Not just start-ups and SMBs, but larger corporates and MNCs are also getting lured towards the segment. Recently IIFL & Kotak Group also finalized coworking spaces with Avanta India at Connaught Place centre, in the heart of New Delhi.
“In the past 2 years, we have seen many multinational companies preferring flexible office spaces for their operations in India. This trend of MNCs and financial institutions pivoting to flexible office spaces will further gain momentum in 2023.” Quoted Mr. Ankit Gupta, Regional Director, Realistic Realtors.
There are numerous inherent benefits of co-working spaces, which are driving demand. One can pay per use, giving the occupier a heightened degree of flexibility. There is no overhead in managing the space and the occupier can focus entirely on the core business alongside optimizing cost. Co-working also promotes better networking and employee engagement.
SAGE Publishing, is an American independent publishing company founded in 1965 in New York and now based in Newbury Park, California. The company publishes more than 1,000 journals, more than 800 books a year, reference works and electronic products covering business, humanities, social sciences to name a few.