NEW DELHI: Table Space, a Bengaluru-based firm that provides managed workspaces, has leased over 200,000 square feet in Delhi and Gurugram from realty major DLF. With this deal, the company which so far had presence in Bengaluru, Mumbai, Hyderabad and Pune will now be entering the Delhi-NCR market. “We have taken about 60,000 sq ft in DLF Prime Towers in Okhla in Delhi and another 1.7 lakh sq ft in Cyber City in Gurgaon [now Gurugram]. We will further expand in the Delhi-NCR market,” said Kunal Mehra, co-founder of Table Space, which offers ‘Grade A’ workspaces and caters to large and mid-market tenants looking to occupy for long periods. According to DLF, which is backed by Singapore’s sovereign wealth fund GIC, another co-working aggregator, Simpliwork, has also taken up 44,000 sq ft at its Prime Towers last month. Prime Towers had 650,000 sq ft of total leasable area, of which only 47,000 sq ft is now vacant. This includes 13,000 sq ft of retail shops on the ground floor. Average rental in the building is Rs 75 per sq ft per month with common area maintenance charges of Rs 11 per sq ft per month.
India is one the most attractive destinations for multinational companies looking for high-value work and talent pool. DLF recently leased 200,000 sq ft to Facebook in Gurugram’s Cyber City. “The space has been taken at DLF Atria on NH8. Average rental in the area is Rs 120 per sq ft,” said a senior company executive. The company is also developing 11 million sq ft DLF Downtown project in Gurugram under DLF Cyber City Developers, a JV between DLF and GIC.
February 21, 2020