Expansions of coworking spaces
India’s leading provider of managed office spaces, BHIVE and DEVX Co-Work Company are charting an expansion path.
BHIVE has leased 42000 sq ft of premium Grade A office space in Garudacharpalya, Mahadevapura in Bengaluru. This marks the company’s second collaboration with Brigade Group, following its purchase in Summit A in the same development. This collaboration leverages Brigade’s legacy of quality and excellence, providing BHIVE with strategically located premium real estate that supports its expansion and service offerings in key business areas.
The new facility with an excellent location in the tech industry area, is designed to support 1200 plus seats and includes features like collaboration zones, tech-enabled conference rooms, dedicated parking spaces etc., echoing BHIVE’s commitment to providing accessible and state-of-the-art managed office space solutions.
BHIVE Workspace’s continued growth is supported by a strong financial performance with the company projecting a revenue target of Rs 348 crore for FY 2024-25, doubling its growth trajectory while maintaining profitability in the competitive managed office space market. The lease is part of BHIVE’s broader strategy to expand our managed office space portfolio by an additional 1 MSF during the current financial year.
Gujarat’s largest managed office space provider, DevX has expanded into Noida by launching 2 more coworking spaces in Noida. These two new spaces are in addition to the two ongoing spaces which have a combined space of 60000 sq ft. Located in Sector 125 and Sector 62, these facilities have a combined space of 37000 sq ft.
Envisioned as a Startup Accelerator, DevX, according to its Co-Founder Umesh Uttamchandani, the expansion in Noida, is a part of the company’s strategy to deepen its presence in Tier 2 and 3 cities. “Our goal is to support Global Capability Centres (GCCs) and large enterprises by providing upscale flexible office spaces with global standards at competitive rates that cater to their evolving needs.
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