“We have seen WeWork and other similar firms enter the market recently in Mumbai, so there is clearly an appetite for smaller spaces with flexible leases. Whilst large, single tenant offices are dominating construction at the moment, purpose-built business parks are also being proposed to cluster complementary businesses together.
“We are currently working on a number of these including a 50-acre masterplan that will serve 70,000 people and over 3 million sq ft. of workplace.”
Because demand is so high and the sector’s expansion is so fast, there are quality issues. Ankit explained: “There is a sense that people don’t want to miss the opportunity, so developments are going forward quickly. This can have an impact on the quality of the build or the fit-out. But, by taking the time to get this right, the market will have more suitable stock, which will attract occupiers and deliver a better return on investment for owners.
“It is important to also invest in the quality of amenities and ensure that the front of house areas have impact. This delivers an experience for visitors and has a large influence on the perception of the development and companies that
“The best way to judge a workplace is on the quality of placemaking it offers. A standalone tower can have a similar impact to a business park if placemaking is championed. This can be through the creation of the right mix of uses within the masterplan, exceptional architecture, the inclusion of quality landscape and public realm, or through the integration of a new brand and wayfinding identity.”