Signalling The Come Back of Commercial Real Estate in India, Awfis Leases 85,000 Sq Ft Office Space in River Side Tower, Noida

Awfis, one of India's largest flexible workspace providers, has leased 85,000 square feet of space at Noida's River Side Tower. Currently, Awfis operates 11 coworking spaces in the Delhi-NCR area, with ambitions to expand to 10-15 more locations by the end of 2022. 

This huge commercial office space deal in Noida is surely a pointer to the recovery of the commercial real estate market in India overall. There has been a major rebound in the overall commercial real estate segment with some of the biggest companies gobbling up huge chunks of office spaces on lease in various cities and towns across India.

The centre, which will have around 1500 seats, is scheduled to open by the end of March 2022.

Currently, Awfis operates 11 coworking spaces in the Delhi-NCR area, with ambitions to expand to 10-15 more locations by the end of 2022.

Amit Ramani, CEO and creator of Awfis, expressed enthusiasm at the prospect of collaborating with River Side Tower to build a new workplace in Noida. The rapid rebound and increased demand for flex workplaces in this area have prompted Awfis to continue developing grade-A flex workspaces to accommodate enterprises of all sizes. 

He also voiced confidence in the trend's expansion, predicting that even the most conventional businesses would recognise the value in establishing hub and spoke offices to enable employees to work closer to their homes and spend less time travelling.