MVN Aero One Leases 3 Lakh Sq Ft to Spring House in Gurugram

New Delhi, Jun 29 (PTI) Realty firm MVN Aero One has pre-leased 3 lakh square feet office space to co-working operator Spring House in its upcoming project in Gurugram.

The office space has been given in the upcoming project 'MVN Aero One Mall' located in Sector-37 D, Dwarka Expressway, Gurugram, Haryana.

The company will develop 15 lakh square feet area over the next 4 years in the first phase of this mixed-use project comprising retail and workspaces.

"Today's workforce seeks more than just a workspace; they desire an environment that inspires creativity, enhances productivity, and integrates seamlessly with lifestyle amenities. By integrating Spring House Co-Working with our luxury retail experience, we're meeting this demand head-on...," said Varun Sharma, Founder and Managing Director, MVN Aero One.

This concept not only redefines the traditional office space but also sets a new standard for integrated, upscale commercial environments, he added.

The company expects an annual rental income of Rs 40-45 crore from this 3 lakh square feet area.

The company, which develops luxury projects, is building a housing project in Bengaluru.

According to real estate consultant Vestian, there are around 50 major flexible space operators in the country.

The top 10 players hold more than 80 per cent of the total flexible office space portfolio.

A Vestian report mentioned that flexible office spaces broadly include dedicated desks, hot desking, co-working spaces, and serviced and managed office spaces.

While co-working centres are at the most flexible end of the spectrum, managed offices would be at the less flexible end, Vestian noted.