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Business EconomyPosted at: Mar 14 2019 2:38PM


Brigade Group forays into co-working space, launch ‘BuzzWorks’

Bengaluru, Mar 14 (UNI) Eying the fast growing co-working office space market, Real Estate giant Brigade Group today announced the launch of ‘BuzzWorks’, the company’s new brand of Co-working office space.
Speaking at a press conference here on Thursday, the group Chairman and Managing Director M R Jaishankar said BuzzWorks was a natural extension of the group’s commercial office portfolio and a forward integration of its business. ‘’We have come a full circle. Started as a commercial developer in Bengaluru in 1986, the group had completed more than 10 million sft of office space and another 11 million sft of office space is under various stages of construction. BuzzWorks will offer us a new avenue for expansion of our business.’’
Ms Nirupa Shankar, Executive Director of Brigade Enterprises said BuzzWorks would launch over 2500 seats across seven locations and 3 cities to begin with. The geographical locations include Bengaluru, Kochi and GIFT city near Ahmedabad to begin with.
‘’We plan to expand operations in other cities with time. Out of the current 11 million sft office space being developed, 2.5 lakh sft will come under BuzzWorks. The company had set aside Rs 100 crore to be invested in BuzzWorks,’’ she said.
Ms Shankar said the co-working office space market is growing at 50 per cent per annum and the group was ready to match this growth rate by creating the office space in the sector. Buzzworks has a potential to grow from current 2.5 lakh sft being developed, to one million sft in the next three years, she added.
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