{"id":2352,"date":"2022-08-31T11:01:42","date_gmt":"2022-08-31T05:31:42","guid":{"rendered":"https:\/\/www.theofficepass.com\/toppings\/?p=2352"},"modified":"2024-02-05T14:34:04","modified_gmt":"2024-02-05T09:04:04","slug":"the-office-pass-plans-to-open-2-new-neighborhood-coworking-spaces-before-diwali","status":"publish","type":"post","link":"https:\/\/www.theofficepass.com\/toppings\/the-office-pass-plans-to-open-2-new-neighborhood-coworking-spaces-before-diwali.html","title":{"rendered":"The Office Pass (TOP) Plans To Open 2 New Neighborhood Coworking Spaces Before Diwali"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><strong>Gurugram, 30th August 2022<\/strong>: Neighborhood Coworking operator <a href=\"https:\/\/www.theofficepass.com\/\">The Office Pass (TOP)<\/a>, which currently runs 12 Coworking offices in Delhi and NCR region, plans to open 2 new offices in the city before Diwali. This expansion is a result of strong demand for flexible workspace post covid. Companies and employees want to work in an office space close to their residence \/ business and that is creating a tailwind for Neighborhood small office format. This expansion will strengthen TOPs dominant position further and will make it the largest Coworking operator in Delhi NCR with 14 offices.<\/span><\/p>\n<p style=\"text-align: justify;\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-2359 size-medium\" src=\"https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/7-595x275.jpeg\" alt=\"Coworking Space in Sector 3, Noida\" width=\"595\" height=\"275\" srcset=\"https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/7-595x275.jpeg 595w, https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/7-768x355.jpeg 768w, https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/7-960x443.jpeg 960w, https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/7.jpeg 1052w\" sizes=\"(max-width: 595px) 100vw, 595px\" \/><\/p>\n<ul>\n<li><em>To open the first office in Sept 2022 and the second in Oct 2022 around Diwali<\/em><\/li>\n<li><em>TOP will become the only Coworking operator to have 14 <a href=\"https:\/\/www.theofficepass.com\/coworking-south-delhi\">Coworking offices in Delhi<\/a>\u00a0and NCR region\u00a0<\/em><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The first office will be launched in September 2022 at Sector 3, Noida (walking distance from Sector 16 metro station). This will be followed by the second office at Unitech Cyber Park, Sec 39, Gurgaon (near HUDA City Centre metro station). The latter will be launched in October 2022 around the festival of Diwali. They will have a combined capacity of over 650 seats.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><em>\u201cAs companies move away from traditional leases and people prefer to work from an office close to their place of residence, we are experiencing good demand for our Neighborhood Coworking model. This has encouraged us to scale faster. If there are no covid related disruptions &amp; business sentiment remains unaffected by the impending global slowdown, we hope to open one new Coworking office every 45 \u2013 60 days<\/em>,\u201d <em>said Mr Aditya Verma, Founder &amp; CEO, The Office Pass (TOP).<\/em><\/span><\/p>\n<p style=\"text-align: justify;\"><img decoding=\"async\" class=\"alignnone size-medium wp-image-2368\" src=\"https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/the-office-pass-new-office-in-sector-3-noida-595x359.png\" alt=\"\" width=\"595\" height=\"359\" srcset=\"https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/the-office-pass-new-office-in-sector-3-noida-595x359.png 595w, https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/the-office-pass-new-office-in-sector-3-noida-768x463.png 768w, https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/the-office-pass-new-office-in-sector-3-noida.png 823w\" sizes=\"(max-width: 595px) 100vw, 595px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Last year has been extremely healthy for the Coworking industry. TOP\u2019s revenue in FY\u201922 grew by 135% and the business turned EBDITA positive (in spite of many Covid related disruptions). The company expects an even stronger growth in FY\u201923.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><em>Commenting on the company\u2019s expansion Brijesh Damodaran, Partner, Auxano Capital one of the early investors in The Office Pass (TOP) said, &#8220;TOP is the first player in the Neighbourhood Coworking space\u00a0and\u00a0today it\u2019s a market leader in this space. Managing\u00a0the working capital efficiently\u00a0along with being diligent in identifying new office spaces has been its USP. Increasing\u00a0its geographical reach outside of NCR is the next big step for TOP and 2022 should see this in action.&#8221;<\/em><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">TOP\u2019s 12 existing offices (10 in Gurgaon and one each in Noida and South Delhi) are running at over 90% occupancy. The company hopes to achieve break-even in the new offices within 3-4 months of their respective launch.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><em>\u201cThe current growth in the Coworking business is driven by four key factors. Firstly, new companies are opting for flexible workspaces over traditional leases. Secondly, there is headcount expansion among existing customers. Next, Coworking operators like TOP are able to pass on an economic benefit to corporates that helps them lower their office operational expenses by 18-22%. Finally, less competitive intensity in the Coworking segment post covid. Many of these factors will continue to be in play over the next 12-18 months,\u201d added Aditya.<\/em><\/span><\/p>\n<p style=\"text-align: justify;\"><img decoding=\"async\" class=\"alignnone wp-image-2357 size-medium\" src=\"https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/2-595x275.jpeg\" alt=\"Office Space in Sector 3 Noida\" width=\"595\" height=\"275\" srcset=\"https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/2-595x275.jpeg 595w, https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/2-768x355.jpeg 768w, https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/2-960x443.jpeg 960w, https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/2-584x270.jpeg 584w, https:\/\/www.theofficepass.com\/toppings\/wp-content\/uploads\/2022\/08\/2.jpeg 1052w\" sizes=\"(max-width: 595px) 100vw, 595px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The Indian flex space market has seen huge growth over the last few years. It is still very early days for Coworking players. It\u00a0is pertinent to note is that the current flex market penetration in total office stock stands at approximately 3.5%.\u00a0 According to JLL\u2019s office market report, India\u2019s average penetration rate for the top seven cities could reach around the 4.0-4.5% mark over the next two years.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The <a href=\"https:\/\/www.theofficepass.com\/toppings\/4-reasons-why-demand-for-coworking-spaces-continues-to-grow-in-delhi-ncr.html\">demand for flexible workspace<\/a> was largely driven by freelancers and start-ups in 2015-2019. However, post COVID, organisations of all sizes have developed a fancy for this format. Going forward the demand will be largely driven by small to mid-sized companies and large companies and MNCs using Coworking for their distributed \/ hybrid office formats.<\/span><\/p>\n<h3><strong>About The Office Pass (TOP) <\/strong><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The Office Pass (TOP) is a technology driven Neighbourhood Coworking &amp; Managed Office space provider. TOP is the only Coworking &amp; Managed Spaces Company in India that promotes #Walk-to-Work. TOP\u2019s vision is to have multiple Coworking offices spread across the city.\u00a0TOP offices are located in CBD areas and around residential Neighbourhoods, so one can find the nearest office in less than 10 minutes. You can think of TOP as a convenient store for Coworking (like 7-ELEVEN).<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">TOP currently runs 12 offices across Gurgaon, Noida and Delhi. 127 mid to large size companies are using TOP Coworking and Managed office services. The company plans to open over 50 Neighbourhood offices over the next 2 years with presence in multiple cities across India.<\/span><\/p>\n<p>To learn more, visit <a href=\"http:\/\/www.theofficepass.com\/\">www.theofficepass.com<\/a> and follow TOP on <a href=\"https:\/\/www.linkedin.com\/company\/theofficepass\/\">LinkedIN<\/a>,<a href=\"https:\/\/www.facebook.com\/theofficepass\/\"> Facebook<\/a> and<a href=\"https:\/\/twitter.com\/theofficepass\"> Twitter<\/a>.<\/p>\n<p><a href=\"https:\/\/www.theofficepass.com?o=p\" class=\"pass btnheadm\" style=\"\r\n    width: 219px;\r\n    margin-left: 20%;\r\n    padding-top: 10px;\r\n    padding-bottom: 10px;\r\n    position: relative;\r\n    display: block;\r\n    padding: 10px 15px;\r\n\"><span style=\"\">BOOK A COWORKING TOUR<\/span><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Gurugram, 30th August 2022: Neighborhood Coworking operator The Office Pass (TOP), which currently runs 12 Coworking offices in Delhi and NCR region, plans to open 2 new offices in the city before Diwali. This expansion is a result of strong &hellip; <a href=\"https:\/\/www.theofficepass.com\/toppings\/the-office-pass-plans-to-open-2-new-neighborhood-coworking-spaces-before-diwali.html\">Continued<\/a><\/p>\n","protected":false},"author":10,"featured_media":2366,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[288],"tags":[],"_links":{"self":[{"href":"https:\/\/www.theofficepass.com\/toppings\/wp-json\/wp\/v2\/posts\/2352"}],"collection":[{"href":"https:\/\/www.theofficepass.com\/toppings\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.theofficepass.com\/toppings\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.theofficepass.com\/toppings\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.theofficepass.com\/toppings\/wp-json\/wp\/v2\/comments?post=2352"}],"version-history":[{"count":8,"href":"https:\/\/www.theofficepass.com\/toppings\/wp-json\/wp\/v2\/posts\/2352\/revisions"}],"predecessor-version":[{"id":2399,"href":"https:\/\/www.theofficepass.com\/toppings\/wp-json\/wp\/v2\/posts\/2352\/revisions\/2399"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.theofficepass.com\/toppings\/wp-json\/wp\/v2\/media\/2366"}],"wp:attachment":[{"href":"https:\/\/www.theofficepass.com\/toppings\/wp-json\/wp\/v2\/media?parent=2352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.theofficepass.com\/toppings\/wp-json\/wp\/v2\/categories?post=2352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.theofficepass.com\/toppings\/wp-json\/wp\/v2\/tags?post=2352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}