Bangalore-based Brigade Group to create 7 co-working spaces in 3 cities

91Springboard coworking space in Bangalore

Real estate firm Brigade Enterprises said it plans to set up seven co-working facilities in three cities as it enters one of the fastest growing segments in commercial real estate.

Brigade’s Buzzworks coworking venture will start off with 2,500 seats, the company said.

Coworking spaces refer to large buildings full of flexible ‘work spaces’ that can be rented on a per month, or even weekly or daily, basis. Customers can rent just one seat, or 100, depending on their need.

Such places, which often come with a food court and other shared facilities, are preferred by start-ups and other fast-growing companies as they help keep costs down.

Besides coworking spaces, Buzzworks plans to provide managed offices, which are halfway between a full-fledged office and a coworking space.

All locations will provide high speed internet, security, housekeeping and refreshment services, the Bangalore-based company said

The real estate player also has plans to partner with food and beverage services, gyms and salons at these locations.

Co-working spaces are increasingly fashionable in Indian cities like Bangalore and Mumbai due to the rise of start-up culture. They allow technology start-ups to operate without having to make heavy investments into office space.

With the increasing number of start-ups, the market for coworking spaces too has exploded in recent years, with many new players entering the field in the last five years alone.

Prominent players in the coworking space include WeWork, The Hive, Regus, 91SpringBoard and IShare Space.

Established in 1986, Brigade Enterprises is one of the biggest names in real estate in the Bangalore market, and is present in both residential as well as commercial markets.