Zomato Is Checking Out the Most Prominent Address in Gurgaon, One Horizon Center, as the rent for the DLF owned property is seen as high. The firm is relocating to Vipul Tech Square on the Golf Course Road where Zomato has taken up around 1lakh sq ft spared over three floors. It plans to have its new-year party in the new office that is being fitted out now. Other tenants in the commercial property include Religare, Fareportal and Dell. In 2015, the Gurgaon-based firm had leased 1.2 lakh sq ft of office space at Rs 135 per sq ft per month in One Horizon Centre and operated its headquarters out of there. Zomato was paying more than Rs 1.6 crore per month for the facility. The office space that Zomato rented was working out to be very expensive for them. So they are relocating.
The firm is also in talks with flexible office operators to move some of its operations there according to confirmed sources. In the last two years, it had surrendered 75,000 sq ft office space in DLF’s property, before deciding to relocate. It will now pay a rent of Rs 90 per sq ft. Many startups have relooked their real estate strategy to cut cost. While big firms like Flipkart moved to new campuses consolidating their operations, small ones have either cut down on real estate or moved to co-working spaces due to lower costs and flexibility.
News Source: ET
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