Incuspaze appoints Sanjay Chatrath as managing partner for India biz

Incuspaze is a chain of premium co-working and managed office spaces with 25 centres across 10 cities Incuspaze founder and CEO Sanjay Choudhary said, The last year was a major setback for the commercial real estate industry as a whole and co-working was not immune to it.

Co-working firm Incuspaze on Tuesday said it has appointed Sanjay Chatrath as managing partner of India business. Earlier, Sanjay Chatrath was managing director (North India) of property consultant Colliers International. He has over 20 years of experience in the real estate sector, according to a company statement. Incuspaze is a chain of premium co-working and managed office spaces with 25 centres across 10 cities Incuspaze founder and CEO Sanjay Choudhary said, ''The last year was a major setback for the commercial real estate industry as a whole; and co-working 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 six new centres by the end of January 2021.'' The company has set a target to reach 1.5 million sq ft of managed office space by the end of 2021, he said.

Choudhary said Chatrath's addition to the leadership team will contribute towards the growth of the company. ''In the past four years, Incuspaze has laid down a strong foundation and has created immense value for its existing member base while widening their footprints across India. Even during the pandemic, Incuspaze signed over six centres across four new cities,'' said Chatrath.

Chatrath said that projected flexible offices growth post-pandemic, the year 2021 surely is going to be an exciting year for Incuspaze and me. Co-working and managed offices have continuously challenged and disrupted the commercial real estate space leasing activity, having grown from an about 5 per cent share in 2016-17 to about 15 per cent in 2019, the statement said.