Simpliwork Offices announced its expansion in Chennai, as part of its ambitious pan-India growth strategy. This marks a major milestone in the Bengaluru-based company’s phenomenal growth in the last 2 quarters.The two new centres in Chennai – DownTown, Taramani with DLF and Commerzone, Porur with Mindspace Business Parks REIT – add over 1.5 lakh sq. ft. of Grade A inventory in the city that continues to be a growth corridor for new business entrants in India.
Commenting on the company’s expansion plans, Kunal Walia - CEO & Founder, Simpliwork Offices, said, “The office market in Chennai is known for its resilience. A key market, it accounts for a growing share of India's total Grade A office space stock and demand. Given its strategic location housing multiple micromarkets, its numerous manufacturing hubs and a strong talent pool, the city has always had the potential to attract occupiers across segments, provided we can develop the requisite Grade A flex workspace infrastructure.”
Simpliwork Offices, is all set to double its inventory to 6 million sq.ft. by end 2023, to capitalize on the accelerated demand for outsourced flex workspaces among large corporates across markets. The company will be investing Rs 650 crore as well as raising private equity funds over the next two years.