Flex office player TEC leases 1 lakh sq ft across 3 cities

Hong Kong-based flexible workspace provider The Executive Centre (TEC) has leased over 100,000 ft across three cities as demand for managed workspace has gone up considerably, its group managing director for South Asia and GCC, Nidhi Marwah, told ET.

The company has leased 25,000 sq ft in Bangalore, 35,000 sq ft in Chennai and 45,000 sq ft in Gurgaon and is in talks with developers to add more space in the portfolio.

TEC has invested ₹50 crore in the expansion and had a total outlay of ₹200 crore for 2022-23 to set up 8 to 10 centres in the country across existing markets. "In addition to the four new centres, we aim to cater to the accelerating demand by exploring new locations," Marwah said.