Managed Co-Working Player Urban Vault to Add 10,000 Seats in Bengaluru within This Quarter

·      With this new addition, Urban Vault's total inventory of managed co-working seats in Bengaluru will surge to an impressive 25,000 seats

·      New seats to come up at prime locations in Sarjapur Road, Hebbal, Koramangala, and HSR Layout

·      Urban Vault plans to enter markets in Delhi, Hyderabad, and Pune in the coming year

Bengaluru, Oct 25, 2023— Urban Vault, one of the leading managed office space providers in India, on Monday announced the addition of 10,000 desks across major micro-markets of Bengaluru as part of the company's strategy to expand its portfolio to meet rising demand for flexible workspace.

Founded in 2018, Urban Vault currently has 15,000 desks across 40 centres in Bengaluru. The total area under its portfolio is 10 lakh square feet. With this latest addition, Urban Vault's total inventory of managed co-working seats in Bengaluru will surge to an impressive 25,000.

"There is a huge demand for managed flex spaces from corporates of all sizes. We are expanding our portfolio in a big way. We are adding 10,000 seats across prime locations in Bengaluru," Urban Vault Co-founder and CEO Amal Mishra said.

The company will add around 3,000 seats in Sarjapur Road, 3,000 seats in Hebbal, 2,000 seats in Koramangala, and 1,000 seats in HSR Layout.

The average rental cost per seat is Rs 10,000.

With addition of 10,000 desks, Urban Vault's total portfolio will reach 25,000 desks in Bengaluru. The number of centres will increase to 45 and the total area under the portfolio will reach 15 lakh square feet.

"Flexible workspace has become a preferred option for corporates looking to expand their businesses. Even those companies which are accustomed to traditional office setups are opting not to renew their lease agreements, instead transitioning towards co-working spaces," Mishra said while talking about the potential of the flex space market.

Mishra highlighted that managed office space offers flexibility and helps corporates save on capital expenditure. "Corporates do not have to worry about managing physical infrastructure and housekeeping of their offices," Mishra said.

Urban Vault's innovative solutions and customer-centric approach have been instrumental in its success. From private offices to virtual spaces, the company delivers tailor-made, high-quality solutions. This allows businesses to redirect their focus towards their core activities, while Urban Vault takes care of their workspace requirements.

Leading enterprises such as BluSmart, and Gensol Group have already recognized the value of Urban Vault's flexible workspaces. These spaces foster agility and innovation, making them a magnet for high-calibre professionals.

Looking ahead, Urban Vault is poised for extensive expansion, with plans to enter markets in Delhi, Hyderabad, and Pune in the coming year. This strategic move is driven by the company's vision to offer its transformative workspace solutions to a wider audience.

ABOUT URBAN VAULT

Founded in 2018, Urban Vault is a managed office space provider based in Bengaluru. With a remarkable growth trajectory, the company now manages over 1 million sq ft of office space. Urban Vault started with a modest 40-seater capacity and has expanded to accommodate more than 15,000 seats across 40 centers in Bengaluru, and one center in Hyderabad. Currently, the company has set its sights on expanding its business in the North region.