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Google Managed and flexible office space provider that has occupied approximately 1 million square feet of office space smartworks‘ in the peer center Pune‘S Mundhwa locality for a total tenure of more than 36 months, persons with direct knowledge of the development said.
new office at commercial The tower Amar Pristine 81 (AP81) near Koregaon Park Annex will be used by Google to house its cloud computing business and is expected to house over 1,300 employees.
“The deal has been signed and Google will soon start functioning from this new office. As part of the lease agreement, the company has also received the signage rights,” said one of the persons mentioned above.
Currently, Google has four offices in India, including the country headquarters in Hyderabad.
Last year, the company extended its 3-year lease on office space spread over nearly 6 lakh sq ft in Hyderabad, following a lease agreement of 1.3 million sq ft in Bangalore.
ET’s email queries to Google and Smartworks did not elicit any response till the time of writing.
The demand for flexible workspace among large enterprise customers as well as start-ups is expected to grow significantly in the coming year.
As per estimates, flexible office space is expected to grow at an average of around 15-20% per annum over the next three to four years. The rise of options such as work-near-home and hybrid models is expected to increase the demand and penetration of co-working office space in major cities and even in Tier II locations.
Part of working together India’s major property markets are set to witness a substantial increase in total office transactions in the second half of 2022 to 21% from 18% a year ago, showed a recent Knight Frank India report.
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