Ocean Lifespaces leases 1 lakh sqft of office space to IndiQube

CHENNAI: Ocean Lifespaces has leased around one lakh sqft. of office space in Guindy to IndiQube, a tech-enabled, integrated workspace start-up.

This leasing for a Grade A asset in the commercial office space will see Ocean Lifespaces expand its current portfolio of real estate assets, after having established itself in the commercial, residential, and industrial segments.

SK Peter, Director, Ocean Lifespaces said, “Chennai has been fast emerging as one of the preferred destinations for companies with start-up friendly policies, a burgeoning real estate industry and a flourishing enterprise culture.

“According to a recent report of International Property Consultants, Chennai’s net absorption nearly doubled on a QoQ basis to 0.53 mn sqft in Q1-2022. Chennai is expected to add nearly 14.2 mn sqft of office space over the next three years which presents a significant market opportunity to Ocean Lifespaces” he added.

Rishi Das, Cofounder IndiQube said “We see an immense potential in Chennai, especially in micro markets like Guindy, and our collaboration with Ocean Lifespaces is a testimony for the same.”

“This will be our fourth property in Guindy and fifth in Chennai as a whole. We partner with landlords, transform their properties and create a consistent experience for start-ups, enterprises and offshore development centres with a unique national plug and play model,” he added.