Demand for next generation SME workspaces on the rise as promoters enter valuations game

Demand for office space is rising from a segment of Small & Medium Enterprises (SMEs) which are now moving to high-quality real estate from industrial galas [shop floor office] and nondescript locations, considering the astronomical high valuations seen through listings in SME exchanges.

The purpose is to meet clients and investors at a smart address as well as to provide employees a better work environmental, developers and analysts said.

To cater to this trend, developers are designing office buildings that specifically meet the requirement of this segment which needs about 1,000 to 5,000 sq ft office space in key locations.

In Mumbai upcoming micro–Central Business Districts (CBDs) like Ghatkopar, Andheri, Kurla, Powai are being considered by SME’s for new age Grade A office spaces that provide accessibility, connectivity, parking space, natural environment, larger common areas and modern amenities alongside core office space.