office space

International Workplace Group signs agreement with Max Group; leases office space in Noida

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International Workplace Group, a renowned global flexible workspace operator has recently rented a 50,000 sq ft office space in Max Group’s commercial tower at Noida. The group has taken this area for its premium brand ‘Spaces’ as part of its strategy to expand business in India.

According to IWG’s India Country Manager Harsh Lambah, “We have taken on lease about 50,000 sq ft area in Max Tower. Being Grade A and LEED-certified green building, we will introduce our premium brand ‘Spaces’ in Noida,”

He further said that this centre would have a seating capacity of 400-500 and the workplace is expected to start functioning from December or January.

The group currently is operating under two heads in India- ‘Regus’ and ‘Spaces’ and has 104 centres under Regus brand and six under Spaces in the country. At present, there are two ‘Spaces’ each in Gurugram and Bengaluru and one each in Mumbai and Chennai. The seventh will be in Max Tower, Noida.

Lambah also added that the company will be charging Rs 14,000-22,000 for co-working and Rs 28,000-45,000 for private offices, depending on location.

Talking about Max Tower, the project is currently in its final stage and is developed by the realty ‘Max Estates’ of Max Group. The location of the project offers smooth connectivity to South Delhi as well as Noida and Greater Noida. It has also started leasing process in this building that commands a monthly rent of over Rs 100 per sq ft.

Giving more information on the development, MaxVIL’s MD and CEO Sahil Vachani said, “The Company is hoping that the Max Towers will establish Noida as a viable corporate office destination. Till now, top-notch MNCs preferred South-Central Delhi or Gurgaon to seat their senior management.”

Max Tower will be LEED platinum certified building and the tower has been constructed by L&T, while Gensler, UK is the principal architect.