: Real estate firm is entering the co-working business through the brand , under which it plans to roll out 2,200 seats in the next two years. BuzzWorks will initially launch more than 200 seats at Whitefield and Rajajinagar at the Brigade Metropolis and Brigade Gateway campuses totalling 15,000 square feet. Later, the firm plans to offer co-working spaces in locations such as , , and as well. “BuzzWorks will be a natural extension of our office portfolio and a forward integration for our business,” said , executive director, Brigade Group. The Bengaluru-based group started off as a commercial space developer in 1986 and later expanded to other real estate segments including residential and hospitality. With co-working segment gaining traction, big companies now comprise about half the clients. This has prompted many real estate firms such as RMZ Corp and to enter the business with ambitious plans. India has more than 200 players operating over 420 co-working spaces across the country, according to . The consultancy has forecast twofold to threefold growth in this segment in the next two years alone. Besides, it has said that with office rents rising across India, co-working spaces are likely to grow at least 30% year-on-year in terms of space occupied, with Bengaluru, National Capital Region and Mumbai, followed by Hyderabad and Chennai, offering the best prospects for growth. Separately, Brigade Group has intensified its focus on the commercial real estate market. Brigade Enterprises has 11 million sq ft of office space under various stages of construction. It has a partnership with Singapore-based private equity firm GIC Singapore for commercial properties. The company also has 18 mn sq ft of residential development to its credit and plans to launch another 9 million sq ft by the next financial year. It has 0.5 million sq ft of retail space and around 781 hotel rooms under construction.
Brigade Group, one of India’s leading developers, is entering the co-working space with the launch of Buzzworks. The company aims to open centres with capacity for 2,200 desks over the next two years and its first sites with a total of 200 desks will be located at Whitefield and Rajajinagar. There are more than 200 co-workspace providers operating more than 420 co-working centres in India, according to Anarock Property Consultants.