Incuspaze, a chain of premium co-working and managed office spaces with 25 centres across 10 cities, is delighted to announce the appointment Sanjay Chatrath as Managing Partner of India Business. Chatrath has over 20 years of rich experience in leading and scaling the businesses in real estate sector.
Chatrath will play a key role in Incuspaze growth and operations in India. Sanjay has been at the forefront of the astounding evolution of the real estate industry in India over the past decade and has been part of some of the most innovative projects. Before being named Managing Partner, Sanjay was Managing Director responsible for Colliers International business in North India. In his previous roles Sanjay was responsible for managing the overall P&L for North India and have been driving some of the landmark transactions in the industry with Fortune 500 clients. His understanding of real estate and relationship with countries Top real estate companies will be paving way for Incuspaze in acquiring more Grade A assets across the country.
Commenting on this key appointment, Sanjay Choudhary, Founder and CEO of Incuspaze said, “The last year was a major setback for commercial real estate industry as a whole; and coworking was not immune to it. However, we have always been positive about the future of our industry and to continue our growth plans, we are adding 6 new centres by end of January 2021. The mindset shift of corporates to move into flexible office spaces, coupled with our increasing presence in multiple cities across India, will see an accelerated growth in the market this year. This will enable us to reach our target of 1.5 million square feet of managed office space by end of year 2021. Chatrath’s reputation for leading and scaling business precedes him, and I am sure his addition to the leadership team will contribute towards the growth of the company while ensuring operational excellence to deliver world class services to Fortune 500 clients & SME’s across India.
Coworking/Managed offices have continuously challenged and disrupted the commercial real estate space leasing activity, having grown from an approximately 5% share in 2016-17 to about 15% in 2019. Whilst the pandemic has impacted the growth trajectory in 2020, I strongly feel that this segment will continue to grow at a very quick pace and will contribute approx. 25% of the overall demand in 2021-2022
Adding to the above, Sanjay Chatrath, Managing Partner – India says, “I am looking forward to work alongside with the team. In last 4 years, Incuspaze has laid down a strong foundation and has created immense value for its existing member base while widening their foot prints across India. Even during pandemic Incuspaze added signed over 6 centres across 4 new cities. With projected flexible offices growth post pandemic, 2021 surely is going to be an exciting year for Incuspaze and me.”