IPO-Bound Executive Centre India Opens 1,000-Seat Coworking Facility in Gurugram

New Delhi: Workspace solutions provider The Executive Centre (TEC) India has opened its new coworking facility, spanning 94,100 sq ft and over 1,000 desks, in Gurugram as part of its expansion plan.

In a statement on Tuesday, the company said it has launched a new centre at DLF’s commercial project ‘Atrium Place’.

Paul Salnikoff, Managing Director and Chief Executive Officer, The Executive Centre, said, “Gurugram continues to be one of India’s most dynamic business destinations, attracting global enterprises that expect more from their workplaces than ever before.” Hong Kong-based TEC provides flexible managed workspaces. It has over 260 centres in 38 cities and 15 markets, including India.

In January, TEC India secured capital market regulator Sebi’s approval to raise Rs 2,600 crore through an initial public offering (IPO).

According to real estate consultant Vestian, office leasing stood at a record 23.9 million sq ft in the June quarter across seven major cities, an increase of 27 per cent year-on-year.

“Managed offices, coworking, flexible spaces remained the second-largest occupier category with a 22 per cent share, reflecting occupiers’ growing preference for agile workplace solutions,” Vestian added.

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