Managed office space industry in India has been experiencing significant growth over the past decade. The demand for managed office spaces has been driven by the rapid expansion of the IT, Big enterprises, Unicorns, IT-enabled services sectors, highly tech startups, and the increasing interest of foreign investors in India.
According to a report by property consultant Knight Frank, India's office space market recorded a gross absorption of 42 million square feet in 2021, marking a 35% YoY growth. Bengaluru, Hyderabad, and Mumbai were the top three cities that witnessed the maximum demand for office spaces.
Co-working spaces have also gained popularity in India, with many startups and small and medium enterprises opting for flexible office spaces. The co-working industry is expected to grow at a CAGR of 25-30% over the next five years, according to a report by JLL. Below are the top successful leaders in Managed Office Space Provider In India
- Karan Virwani - CEO of WeWork India, a global provider of coworking & flexible office space solutions.
- Neetish Sarda - CEO of Smartworks, India's Leading Managed & Flex Space Provider in India with a footprint of 7 million+ sq. ft. across 38 locations in 12 cities and caters to more than 450 organisations. He is the son of Mr Ghanshyam Sarda, who is the founder of Sarda Group of Industries, which deals mainly in Jute Industry.
- Amit Ramani - Founder and CEO of Awfis, a leading provider of coworking and managed office space solutions.
- Manas Mehrotra - Founder and Chairman of 315Work Avenue, a rapidly growing coworking and managed office space provider in India.
- Suresh Rangarajan - Founder and CEO of CoWrks, a provider of flexible and managed office space solutions.