Tag: Qdesq

Business

India’s flex space stock to cross 60 million sq ft by 2023

Nov 23, 2021 by Rekha Nair 0 Comments #CEO (India) and MD (Market Development-Asia), #Colliers, #Colliers India, #Founder & CEO, #Paras Arora, #Qdesq, #Ramesh Nair, #Senior Director and Head of Research, #Vimal Nadar

Gurugram– Colliers forecasts flex workspace stock to cross 60 million sq ft in metro and non-metro cities by 2023, as occupiers embrace agility and flexibility in their work models, mentioned in a recent release by Colliers and Qdesq.

The demand for flex space will be largely driven by Consulting, IT-BPM and E-commerce companies who are establishing multiple satellite offices in suburban locations in metro cities. Metro cities remain the stronghold of flex spaces, accounting for about 88% of the total flex stock as of Q3 2021, mentioned in the report.

“Reverse migration to Tier 2 cities, constant growth of new startups and increased occupier confidence driven by vaccination rates, have helped in overall improvement of the flex industry across the country. The flex market in India is evolving with many enterprises incorporating a flex space component in their portfolio. It is encouraging that flex spaces are currently operating at about 70%, with the trend moving towards pre-pandemic levels. Occupiers are looking at next-generation offices and the future workplaces will be unique to each occupier. Flex workspace operators must continue to focus on customization and providing on-demand workspaces,” said Ramesh Nair, CEO (India) and MD (Market Development-Asia), Colliers.

The flex market in India is evolving with many enterprises incorporating a flex space component in their portfolio. There are currently 3410 flexible centres across major cities, operating at about 70%, with the trend moving towards pre-pandemic levels.

“The next 12-18 months is expected to witness businesses of all sizes reassessing the use of their office. The importance of agility and decentralization has been underlined and highlighted by the pandemic and will become critical to businesses as they adapt to change, impelling the industry forward and that’s what the future looks like for India. Making Flex mainstream”, said Paras Arora, Founder CEO, Qdesq.

Flex space is also emerging in non-metro cities as large enterprises are moving to a decentralised structure focusing on the flexibility and convenience of their employees. The total flex stock in non-metro cities to reach 7.8 mn sq ft by 2023, a 50% increase from current levels.

Major non-metros like Ahmedabad, Coimbatore, Indore, Jaipur, Kochi and Lucknow are witnessing robust activity and are the top 6 emerging non-metro flex locations.

Occupancy levels inching towards pre pandemic levels:

After a dip in occupancy and prices during covid, flex space is reviving in the latter part of 2021 with an average occupancy of 71%. Prices per seat have also seen an improvement by 21% as of September 2021, after falling by about 30% during the pandemic.

“Metro cities are seeing renewed demand from occupiers across the spectrum in the latter part of 2021. Even in non-metro cities, occupiers are taking up seats for their sales and regional offices, leading to higher occupancy. Occupiers are evaluating the concept of ‘work from near-home’ through satellite and hub-and-spoke offices. We foresee that these offices will be an amalgamation of traditional leases and flex spaces,” says Vimal Nadar, Senior Director and Head of Research, Colliers India.

Colliers recommends flex space operators to focus on enhancing occupier experience by digitizing workspaces and providing add-on services, which shall receive more enquiries. As occupiers focus on health and wellness, demand for well managed Grade-A properties with superior infrastructure is ought to increase. Inclusion of digital infrastructure and smart facilities shall also contribute in achieving greater operational efficiency, reduce energy consumption and higher customer retention.

Business World

Qdesq Launches Qdesq Flexi, the New Definition of Remote Working

Jan 22, 2021 by Rekha Nair 0 Comments #co-founder and CTO, #Founder and CEO, #Lavesh Bhandari, #Paras Arora, #Qdesq

India – With 1.4m desks in 3000+ centres across 52+ cities, Qdesq Flexi is India’s largest platform to book flexible passes for any number of days.

Qdesq launches the brand new office space solution – Qdesq Flexi, the new definition of remote working. Qdesq Flexi unifies flexibility on usage, location, and venue; productivity in aesthetically designed spaces; financial prudence as pay per usage without any rigidity or blockage; and convenience on a single platform. One can book a desk, cabin for day(s) or monthly.

“Being at the centre of the flex industry in India, we have noticed the increasing preference of remote working, not only for individuals but also for enterprises and corporates. Many organisations have been pondering upon the perfect solution to ensure flexibility for their teams,” says Paras Arora, founder and CEO, Qdesq. “With the increased demand for hub & spoke model and work from anywhere, the need to bring about a platform that enables real-time booking increases as well.”

The last year was all about restructuring the office policies to deal with the issues like decreased productivity, lack of effective team collaboration, unused real-estate operational costs, blending of professional and personal life along with health risk due to the density at the office, resulting in the loop of problems.

“It was necessary to ensure business continuity, sustainability, expense optimization along with team productivity and employee safety, which gave rise to Qdesq Flexi. While the platform is capable of providing real-time availability and booking of desks, it was imperative to create a solution dedicated to enterprises. Therefore, through the exclusive enterprise admin dashboard, management can lay down policies, i.e. set limits and allowances based on day, budget, etc. They can customize them for different teams or departments, utilise tech-interface for booking and approval matrix, periodic reporting, and wallet or post-payment services as per convenience. Moreover, all central/state invoices are generated on the platform, which in turn cuts down the friction of collating them,” says, Lavesh Bhandari, co-founder and CTO, Qdesq.

Business World

Businesses Challenging the Tides by acquiring more of Shared Spaces

Aug 4, 2020 by Gouri Achary 0 Comments #Asia-Pacific (APAC) market, #CBRE report, #concept of shared office spaces, #Flipspaces, #MyBranch, #Qdesq

Shared office spaces have become quite popular in India in the last 5 years. Its massive growth has disrupted the conventional work environment and helped India to get on a modern track.

Steady economic development and burgeoning startup community in India is driving the flexible workspace industry. In the Asia-Pacific (APAC) market, India has the 2nd largest flexible workspace market, second only to China. CBRE report has found out that in the last 4 years, US$3 billion has been infused in the shared office space market, making it one of the fastest growing emerging markets.

The concept of shared office spaces is catching up in metros and now in tier II and tier III cities in India.

There are multiple ways in which this pandemic has changed the way we work. One of the major transformations would be, with more people working remotely companies will plan to open regional hubs or provide access to co-working/shared office spaces wherever their workers are concentrated rather than have the majority of their workforce at one central office.

Few of the popular startups who are helping businesses to smoothly open their new offices or provide shared spaces are listed below.

1.    MyBranch:  Searching for the right office space can cause a lot of stress. In a bid to resolve this conundrum, The company helps you to have local sales and virtual office space in your preferred location in 25+ cities across India. This envisages to provie you Instant Business Presence and Expansion across PAN India with Best-in-Class Offerings – Sales Office Spaces, Managed Services, Virtual Office And Meeting, Conference, Training Rooms. The company incepted in the year 2016 as a business unit within the prestigious Narayan Bhargava Group that has been serving the BFSI sector for over 20 years.

2.   Qdesq: A coworking aggregator Qdesq, founded in November 2015, is a premier destination that offers a tech-enabled platform for the workforce to search and book flexible workspaces. Offering an easy, effective, and brokerage free solution, the company serves as a true marketplace to make an informed choice for workspace seekers. Whether it is co-working spaces, shared workspaces, managed workplaces, virtual offices, or individual offices, Qdesq offers them all.

3.   Flipspaces: Founded in July 2015, Flipspaces is a tech-enabled venture in interior design, products, and projects for commercial spaces. Flipspaces follows a differentiated approach through its tech-suite which creates efficiency and enhances the customer experience in every step of their interior design and build journey. Flipspaces was co-founded by IIT alumni, Kunal Sharma and Ankur Mucchal, both serial entrepreneurs with a history of build, scale, and exit.