The Executive Centre (TEC) has decided to invest Rs 125 crore into its India business to launch eight new centres in major cities including Chennai, Hyderabad, Mumbai, Bengaluru, Gurugram, and New Delhi. This initiative comes as a response to the rising demand for flexible workspaces.

Currently, TEC has over 220 centres in 36 cities across 16 countries, spread across 1.3 million square feet of workspace and 12,500 desks in 50 centres. In 2023 alone, TEC saw its India revenue increase by 31%, raking in Rs 475 crore.

Paul Salnikow, the Founder and CEO of TEC, stated, “India continues to be one of the biggest and fastest-growing markets for The Executive Centre. The demand for flexible workspaces in the country has been on the rise with the changing preferences and requirements of the modern workforce.”

This rise is being attributed to IT/ITES, BFSI, and startups, leading to a surge in Global Capability Centres (GCCs).

Rajat Kapur, Managing Director for North India, UAE, and Saudi Arabia, laid out the expansion map of these eight centres. He informed that TEC is funnelling over Rs 47 crore into three centres in South India: RMZ One Paramount in Chennai, RMZ Nexity in Hyderabad, and Raheja Cignus in Bengaluru.

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Additionally, Mumbai has Rs 33 crore earmarked for 59,000 square feet of prime real estate at First International Financial Centre and One BKC. In North India, Gurugram and New Delhi will see a Rs 42 crore investment spread over 96,000 square feet in DLF Cyber City and Aerocity.

Kapur added that the demand for office space in India remains solid, particularly from corporates eager to plant their GCC roots.

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