Noida-based coworking space provider company Kocreate and real estate consultancy firm Investors Clinic Infratech Pvt. Ltd have agreed to invest Rs 10 crore in an equal joint venture to create new shared workplaces. Both companies will invest Rs 5 crore each, Investors Clinic reported to media.
They are planning to benefit from an expected rise in demand for co-working spaces in the Noida and New Delhi after the Covid-19 crisis ends.
Investors Clinic will bring in spaces through exclusive tie-ups with builders, and Kocreate, a well-established player in managing state-of-the-art co-working spaces, will bring operational excellence to the development and management of centers.
The JV plans to add 5,000 seats to Delhi-NCR in a year and then extend operations nationwide. The new business will be known as Kocreat.
“In the last 3-4 years, I have been continuously watching the development of co-working spaces. We’ve been trying to extend our company activities and Co-working is the next major leap forward. We have provided excellence through our real estate services to our clients, customers and builders. It will be an extension of the current offerings, where we can give our partners exclusive profitable projects,” said Honeyy Katiyal, Co-founder of Investors Clinic.
“In the last three years, we have completed the efficient operation of co-working spaces. The JV with Investors Clinic will offer both parties a win-win situation as we look at market expansion and the Investors Clinic will move into a new area of real estate. We already have two centers that we operate in Noida, under the brand name of Kocreate,” said Nitin Gupta, Co-founder of Kocreate.