hub and oak

Hub and Oak to Open Two New Co-Working Offices in Delhi

News

Leading co-working startup firm Hub and Oak has announced the opening of two new such office spaces in the national capital, Delhi soon. The centers will have a seating capacity of 750 seats and the company would invest about 4 crores to develop the spaces. The group has at present four co-working spaces with 400 seats operating across various areas of Delhi like Defence Colony, Bhikaji Cama Place, Jasola, and Nehru Place.

Giving more information on the same, Srishti Dhir, founder of the company said, “We are coming up with two new centers in Delhi by this year-end. The location of the office spaces has already been finalized. With this, our total capacity will be increased to over 1,000 seats,”

She further informed that the company has already invested approximately Rs 1.2 crore to set up the four operational centers and will now put in Rs 4 crore more to develop the newly announced centers.

The co-working startup offers seats in the price range of  Rs 10,000 to Rs 12,000 per month to professionals such as lawyers, chartered accountants, etc.

Hub and Oak’s current revenue stands at Rs 20 lakh per month and it is expected that it will reach Rs 60 lakh after the opening up of the two new centers.

“Our centers mostly have 100 % occupancy and this is the main reason we decided to expand our legs across other areas of the city as well as the country too through blitz-scaling strategy,” Dhir added.

The co-working space in the Indian commercial market is witnessing huge demand. A recent report also revealed that in 2019, office space taken up by co-working operators was almost 13% of the overall net leasing of 32.7 million sqft.