People privy to the developments said that Google has picked up nearly 1 lakh sq ft office space in managed and flexible office space provider Smartworks’ coworking center in Pune’s Mundhwa locality for a total tenure of over 36 months.
New Google’s Capacity at Pune
The new capacity shall house more than 1,300 employees and shall be utilised by Google to operate its cloud computing business.
The new office will be at commercial tower Amar Pristine 81 (AP81) near Koregaon Park Annex.
One of the people involved said that “The deal has been signed and Google will start operating from this new office anytime soon. As part of the lease agreement, the company has also received signage rights”.
Including the country headquarters in Hyderabad, there are in all four offices in India.
Following an agreement to lease 1.3-million-sq-ft in Bangalore, the company extended its 3-year lease on office space spread over around 6 lakh sq ft in Hyderabad in last year.
Since flexibility has taken the centre stage, the demand for flexible workspace is surging among large enterprise clients as well as start-ups and is also expected to rise substantially in the coming year.
Demand for Flexible Office Spaces on Rise
Over the period of next three to four years, the flexible office spaces are expected to grow by an average of around 15-20% per annum as per the estimates.
Across the key cities and even tier II locations, with the rise of options such as the work-near-home and hybrid model, the demand and penetration of coworking office spaces will rise.
As per a recent Knight Frank India report, from 18% a year ago, the share of co-working segment in total office transactions in the second half of 2022 across key property markets of India has witnessed a considerable growth to 21%.
