Urban Vault to add 10,000 co-working seats in Bengaluru

Urban Vault, a managed office space provider, has revealed its plan to add 10,000 co-working seats in various micro-markets across Bengaluru within the current quarter. The expansion aims to address the increasing demand for flexible workspaces in the region.

Established in 2018, Urban Vault has a presence in Bengaluru, offering 15,000 desks across 40 centres, covering approximately 10 lakh square feet of office space. With this latest announcement, Urban Vault's total inventory of managed co-working seats in Bengaluru is set to reach 25,000 seats.

Amal Mishra, Co-founder and CEO, Urban Vault, stated, "There is a growing demand for managed flex spaces from businesses of all sizes. We are expanding our portfolio by adding 10,000 seats in prime locations throughout Bengaluru."

Strategic location choices

The expansion will primarily target key areas, including Sarjapur Road (3,000 seats), Hebbal (3,000 seats), Koramangala (2,000 seats), and HSR Layout (1,000 seats). These additions aim to cater to the diverse workspace needs of businesses in Bengaluru.

The average rental cost per seat at Urban Vault is set at Rs 10,000. With the addition of 10,000 desks, Urban Vault's total portfolio in Bengaluru will encompass 25,000 desks across 45 centres, spanning 15 lakh square feet of office space.

Evolving corporate preferences

Mishra emphasised the appeal of flexible workspaces for corporations, stating, "Flexible workspace has become a preferred option for corporates looking to expand their businesses. Even companies accustomed to traditional office setups are now considering co-working spaces as alternatives to renewing their lease agreements."

Managed office space offers flexibility and potential cost savings for businesses by outsourcing the management of physical infrastructure and office maintenance.

Urban Vault provides various workspace options, from private offices to virtual spaces. Looking ahead, Urban Vault plans to expand into new markets in Delhi, Hyderabad, and Pune in the coming year.