CoWrks emerging as huge competitor in APAC’s office market

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Bengaluru-based coworking space CoWrks has plans to expand to 11 million square feet of space throughout the country by 2020.

CoWrks currently runs 1.5 million square feet across Chennai, Bengaluru, Delhi-NCR, Mumbai and more, with the hopes of closing out 2019 with 2.5 million square feet of space.

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“CoWrks started with over 600 desks two years ago, and will close the financial year with 27,000 desks across five locations,” said CEO Sidharth Menda.

Technology, banking, and insurance companies are largely seeking out coworking spaces to avoid rising rent and the lack of ready-to-move-in offices in India. CBRE South Asia reports that India’s flexible space market increased by 15 million square feet in 2018, making it one of the biggest markets in the APAC region.

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