HYDERABAD (Metro Rail News): L&T Metro Rail (Hyderabad) Limited (L&TMRHL) has initiated a unique concept of ‘Office Bubbles’ – offering the secured, remote, co-working spaces as part of its Transit oriented Development (ToD). This concept is going to be one of its kind ever explored in Indian Metro Rail history. Through Office Bubbles, L&TMRHL would fulfil the surging demand for co-working spaces and locational flexibility of office spaces in Hyderabad.
Transit Oriented Development segment of Hyderabad Metro Rail has been creating vibrant urban spaces integrated with a high-quality transit system with a focus on enhancing the quality of life. ToD offers around 18.5 million sqft of space for work, shopping, leisure, entertainment, healthcare along with parking and circulation area. Focusing on IT companies, Office Bubbles concept offers ‘Hub and Spoke’ model, enabling them to open strategically dispersed smaller offices across the city. LTMRHL would be using the high-quality transit oriented spaces in the un-paid (pre-ticketing) areas on the concourse level of its stations. Close to 0.4 million sqft would be dedicated to Office Bubbles for lease, encompassing 1750 sqft of 2 units across 49 typical metro stations and 5,000-30,000 sqft of spaces at 8 non-typical metro stations. One can expect spaces to be offered in bare shell, warm shell, and plug & play formats depending on the clients’ requirements.
Mr. KVB Reddy, MD & CEO, L&T Metro Rail (Hyderabad) Limited said, “We are proud to offer ‘Office Bubbles’ as first of its kind concept being rolled out in the Indian urban transportation sector. Office Bubbles aspires to help corporates with its competitive advantage of highly connected, secured and reliable Remote Co-working Spaces. This solution would also cater to the new normal, where locational flexibility and data security become a prime concern for the corporates. This concept is not only a natural and logical choice for start-ups, but also large corporations who are progressing towards co-working spaces owing to the agility and flexibility it offers.”
Benefits of Office Bubbles:
- Offer Flexible workspace, working style with a reduction in employee travel time
- Predominantly lower operational costs, better infrastructure, and networking opportunities
- Protection of clients’ intellectual property
- Secured spaces in 57 stations across the city with CCTV and Access Control.
- Dedicated data connectivity (LAN) coupled with ready Fibre Optic Network
- Reliable power supply, High safety & security including fire safety compliant infrastructure
- Availability of round-the-clock security and operations
- Easy travel for employees by metro rail; available Parking spaces
- Downsized city centre offices and reduced costs
- Other conveniences – Bank ATMs, F&B Outlets, etc.
- Easy to isolate any affected person(s), without disturbing functioning of other units, in event of any pandemic or related crises
While the concept of co-working spaces has been gaining momentum over the past few years for its efficiencies in space management; during the pandemic times, it has gained further traction when corporates are exploring the concept of multiple smaller offices spread across different locations over a consolidated office located centrally.
Co-working spaces are understood to be flexible to adapt to the new normal in smart and creative ways by responding to the needs of evolving business landscape. Market studies show that co-working spaces in India are becoming growth drivers in office leasing market. Demand for co-working spaces is driven by the changing nature of work environment that is now based upon agility, collaboration, and flexibility. Companies in order to support the wider strategic agenda (based on collaboration, innovation, flexibility as well as talent attraction and retention) are seeking co-working spaces.
Leasing trends across the top seven cities in India including Hyderabad clearly reflect the rising proportion of mainstream corporates and established entities from different sectors increasingly opting for co-working spaces. Further, as the start-up economy expands, there is a growing need for co-working office spaces with elevated standards of amenities to provide better flexibility, low-risk and scalable workspace solutions that provide customised services, which can evolve and adapt to their occupants.
