The Executive Centre Moves Forward With Expansion
Hong Kong-based serviced office operator The Executive Centre remains confident that demand for flexible office space will grow as corporations look for cost-effective workplace solutions.
The company now has plans to invest 100 crore to open five new locations across India as part of its expansion plan and are expected to open by March of next year. Currently, the company has 30 facilities.
“There has been very little impact on the company’s revenue as most of our clients are large corporate firms,” said Nidhi Marwah, TEC Managing Director, South Asia.
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Marwah added that the company’s revenue has remained at $35 million during the last financial year.
This news follows the flexible workspace industry’s struggle to weather lockdowns caused by the pandemic. While smaller coworking competitors are expected to be acquired, consolidate or close their doors, operators like TEC are banking on large companies turning to their services as they look for flexible leases and to cut costs.
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