TEC invests $ 0.7 m to expand presence in SL; opens fourth centre in Colombo

Friday, 25 October 2024 02:32 - - {{hitsCtrl.values.hits}}

The Executive Centre (TEC), Asia’s largest premium workspace provider with a presence in 16 countries across Asia-Pacific, Middle East and Australia, is poised to further expand its footprint in Sri Lanka.

As part of its strategic growth, TEC has invested $ 750,000 to open a new floor in the East Tower of the World Trade Centre in Colombo.

This follows TEC’s maiden entry into Sri Lanka in 2017, when it first established two centres in the West Tower of the World Trade Center and one Centre at MAGA One.

Located in the iconic twin tower of Colombo, the newly designed workspace adheres to international design standards, promising enhanced experiences and improved productivity for its members. Currently, TEC’s overall occupancy rate in Sri Lanka is at 96%, making it a preferred choice for businesses. Building on the success of its existing centres, the new additional space spread across approximately 9,000 sq.ft. with a total of 160 workstations, will provide state-of-the-art facilities including lounge, co-working area, meeting rooms, phone booths and a barista bar. This is yet another step towards the company’s continuing expansion in South Asia, backed by a robust demand for flexible workspaces.

The Executive Centre Managing Director, West India, South India and Sri Lanka Manish Khedia said: “The Executive Centre is investing $ 750,000 to expand our presence in Colombo, a market poised for significant growth in the coming years. Our expansion reaffirms our commitment to the Sri Lankan market and our readiness to meet the dynamic needs of businesses in this enterprising economy. This investment underscores our dedication to offering innovative, flexible work solutions, providing premium workspaces with a global network and state-of-the-art infrastructure.”

In 2023, TEC significantly broadened its global presence by adding 26 new centres, marking its total to over 220+ centres across 36 cities. The most notable expansion occurred in South Asia and the Middle East, where 12 new centres were opened, doubling TEC’s footprint in the region since the pre-pandemic period. TEC will be announcing further expansions in India and the Middle East in 2024. As TEC celebrates 30 years of excellence this year with its robust financial performance and effective business model, it is well-positioned to continue leading the premium workspace industry.