Max Ventures & Industries forays into managed office spaces; stock trades higher by 1 per cent

On Thursday, Max Asset Services (MAS), a subsidiary of Max Group’s listed entity, Max Ventures & Industries, announced its entry into the ‘managed office spaces’ business with the launch of ‘WorkWell Suites’ at its newly-developed office complex Max House, Okhla.  

MAS’ first managed office spaces offering at Max House, Okhla has a total leasable area of 14,000 sq. ft with a total seating capacity of 200.   

Over the next three years, MAS plans to operationalise nearly 2 lakh sq. ft of managed office space in Delhi NCR. The company has planned a low Capex model for building this capacity.  

Managed office spaces are gaining due to the increasing acceptance in companies and of flexible office spaces as a rental option. Flexible workspaces as a segment have grown rapidly to now form a notable, approximately 10 per cent, of the new office leasing in India.  

At 2.28 pm today, the company’s stock was trading at Rs 53.15, up by 1.05 per cent against its previous close of Rs 52.60 on BSE.