TEC invests US$ 750K to expand presence in Sri Lanka

• Opens fourth centre in Colombo

The Executive Centre (TEC), Asia’s largest premium workspace provider with apresence 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 US$ 750K to open a new floor in the East Tower of the World Trade Center 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 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 percent, making it a preferred choice for businesses. Building on the success of its existing centres, the new additional space spread across approximately 9,000 sqft. with a total of 160 workstations, will provide state-of-the-art facilities includinglounge, coworking area, meeting rooms, phone booths and a barista bar. This is yetanother step towards the company’s continuing expansion in South Asia, backed by a robust demand for flexible workspaces.

Speaking about the expansion, Manish Khedia, Managing Director, West India, South India & Sri Lanka, The Executive Centre said, “The Executive Centre is investing US$ 750K 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+centresacross 36cities. The most notable expansion occurred in South Asia and the Middle East, where 12 new centreswere 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.