Home-grown managed office and co-working space provider, Work Easy Space Solutions Private Ltd (WorkEZ), is planning to add over 1.4 million sq ft of office space in the next 12-15 months.
“By March 2023, we are looking to cross the one million sq ft mark and we are looking to get into Tier-2 cities and other major metros. Our goal is to reach 2 million sq ft by the end of 2023 and grow from there,” Sunil Reddy, Co-founder and MD, WorkEZ, told BusinessLine.
The company on Wednesday announced signing three new properties in different parts of Chennai, with a total capacity of 4,000 seats spread across 0.2 million sq ft. The new additions have taken the Chennai-headquartered managed office space provider’s total capacity to 12,000 seats, spanning 0.6 million sq ft across seven centres in Chennai.
The new centres ‘WorkEZ The Address’, ‘WorkEZ Chambers Guindy’ and ‘WorkEZ Clubhouse’ are located in key micro markets such as the 200-feet Radial Road in Pallavaram, Guindy and off Anna Salai respectively.
“We started with a 0.1-million sq ft centre at the end of 2019, and have grown six-fold in the last three years,” Reddy added.
He also added that most of the organisations are looking for cost-effective and efficient ways to bring their employees back to office and the managed office space industry is the biggest beneficiary of this trend.
Nearly 80 per cent of WorkEZ’s clients are enterprises across industries such as IT, BFSI, manufacturing, tech-driven companies, while small businesses and start-ups account for the remaining.
WorkEZ is also looking to expand into Tier-2 cities in Tamil Nadu, besides foraying into other states.
“For Tier-2 expansion, we are looking at Coimbatore, Madurai and Tiruchi in Tamil Nadu. We are also exploring cities such as Kochi, Thiruvananthapuram, Visakhapatnam and some cities in the North since some of our existing clients have asked for managed office space in other states as well,” said Prathap Murali, WorkEZ’s Head of Business for India.