TEC of Hong Kong Invests INR 100 Cr to Lease over 2 Million sqft Across 8 Locations in India

New Delhi:

The Executive Centre (TEC), a flexible workspace provider based in Hong Kong, has invested 100 crore in the first half of 2023 to lease approximately 200,000 square feet of space in eight centres, according to Nidhi Marwah, the company's group managing director for South Asia and the Middle East.

56% of office space occupiers, according to a CBRE survey, intend to allocate more than 10% of their total office portfolio to flexible spaces by 2025.

"It is always our intention and aspiration to surpass our past accomplishments. But the availability of decent locations is always a problem," said Marwah.

The Executive Centre has expanded its presence by opening locations in Hyderabad, Gurgaon, Bengaluru, Delhi, and Mumbai, but has no current intentions to expand into additional cities.

"Each of these spaces is in a different stage of fit out. We used to sign contracts for 30,000 to 40,000 square feet of space, but now we're signing contracts for 50,000 to 60,000 square feet of space everywhere," Marwah explained.

The company's new centres are located at Helios Business Park in Bengaluru, DLF Centre in Delhi's Connaught Place, One Horizon Centre and DLF Downtown in Gurgaon, FIFC in Mumbai, Salarpuria Knowledge City and RMZ Nexus in Hyderabad, and Prestige Palladium Bayan in Chennai.