Major co-working operators leased only 1.2 million sq ft in 2016, which accounted for 3 per cent of the overall leasing volume in our country. More than 50 per cent centres are based in Bengaluru, NCR and Mumbai with 60 to 80 per cent occupancy.
Colliers, in its report on co-working space forecasts that the plan is to lease 8 to 9 million sq ft by 2020. It also foresees that the concentration of co-working space will intensify further in Bengaluru, Mumbai, and Gurugram due to the availability of adequate infrastructure and opportunities for start-ups there.
Apart from the above cities, Hyderabad may also pick up the pace as companies such as Apple, Google and Amazon, have recently taken large office spaces in the city, which will create further opportunities for start-ups and a few SMEs. Among Tier II locations, cities that have a high presence of technology companies such as Pune, Jaipur, Chandigarh, Ahmedabad and Kochi, should also witness the emergence of co-working hubs.
Read more: Business Today