MaxVIL Launches Managed Office Space Business

Max Asset Services (MAS), a subsidiary of Max Group’s listed entity Max Ventures & Industries (MaxVIL), on February 25 announced its entry into the managed office spaces business with the launch of WorkWell Suites at the newly-developed office complex Max House, Okhla. The company plans to operationalise nearly 2 lakh sq ft of managed office space in the Delhi NCR over the next three years, the company said. MAS’s first managed office spaces offering at Max House, Okhla has a total leasable area of 14,000 sq. ft. with a total sitting capacity of 200 seats. It will cater to corporates with a team size of between 20 to 100. Max House, Okhla, comprising around 1,05,000 sq. ft. of a leasable area was launched for leasing recently by its sister company Max Estates. Max Asset Services has planned a low capex model for building this capacity. Managed Office Spaces is gaining due to the increasing acceptance in companies, of flexible office spaces as a rental option. Flexible workspaces as a segment have grown rapidly to now form a notable around 10% of the new office leasing in India, as per a recent Cushman & Wakefield report. Co-working and managed office spaces are the two most popular formats of flexi-office space. The current footprint of MAS’s managed offices stands at 34,000 sq. ft. with top tier clients like a US-based ed-tech firm and a top engineering MNC. In addition, MAS provides the WorkWell experience to 24,000 sq. ft. of conventional office space clients delivering the best of wellness, technology and hospitality for their office operations, the company said. Conscious of the increased concerns about hygiene and health, WorkWell Suites offer health and safety protocols such as Advanced MERV13 air filtration, contactless entry, automated temperature and mask detection system,  shoe sanitisation and vehicle disinfection facility.