Co-working firm BHIVE Workspace on Thursday said it has started a new centre in Bengaluru with a capacity of 5,000 seats as it seeks to tap a rise in demand for flexible office space.

In a statement, the company said it has expanded its co-working portfolio with the addition of Garuda BHIVE Workspace in BTM Layout, Bengaluru.

The co-working centre, developed in collaboration with the Garuda Group, is spread over two lakh square feet and will offer over 5,000 seats.

BHIVE has already leased spaces to start-ups in the healthcare tech, digital banking, insurance and apparel industries.

With the addition of this facility, the total co-working portfolio of BHIVE has reached 14 lakh square feet with a total of 40,000 seats across Bengaluru.

According to the FICCI-Colliers India report released recently, the total gross office leasing stood at 50.3 million square feet in 2022 across six cities--Delhi-NCR, Mumbai, Pune, Bengaluru, Hyderabad and Chennai. Out of this, the co-working operators took on a lease 7 million square feet area, which is 14 per cent.

After taking office space on lease from real estate developers and property owners, the co-working operators provide the workspace to corporates.