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The Executive Centre, a serviced and virtual office provider, will open offices in Bangalore and Chennai by 2012.
It is a leading premium service office provider in Asia.
The office space provider also intends to open its second centre in Mumbai.
The Executive Centre has a suite of premium ‘A' grade office spaces in 28 cities in the Asia-Pacific. Its clientele include Salesforce, Blackberry, Facebook, Microsoft and Google, the provider said.
Serviced offices appear to be gaining ground despite the global economic uncertainty. There is a natural tendency for companies to curb overheads and the most common way is to reduce office space or seek short-term leases, it said.
The company has recorded an annual growth rate of 26 per cent since 2004. The demand comes from multinational corporations and start-ups, particularly technology companies.
It has earmarked $18 million for expansion this year with the aim of increasing its total capacity by 31 per cent.
murug@thehindu.co.in
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