IShareSpace, a Mumbai-based sharing space provider, has announced that it is planning to expand its number seats to about 2,000 across 15 centres by 2018.
As the demand for co-working space has been increasing rapidly, the co-working space company believes that now is the perfect time to expand its business. With that thought, IShareSpace is looking for new locations in new cities as well as within the cities to set up its centres. Currently, the company is actively searching for a property Andheri suburb of Mumbai and Indiranagar in Bangalore.
Started in April 2016 with 40 seats in Mumbai, the company now has a total of 420 seats across four centres in Mumbai, Bangalore, Chennai and Gurgaon. It is ready to use sub-leasing, management contracts and profit-sharing options to tie-up with land lords for its expansion.
“At two of our centres, we are already witnessing around 95% occupancy levels and the way shared office space segment is growing, we are looking to expand our portfolio rapidly. We are looking to raise $2 million-$5 million by the end of this year to support our expansion plan,” says Priyanka Krishnan, Co-Founder, IShareSpace.
Source: ET Realty