TEC invests $0.7 million to increase pressure in SL; opens a fourth center in Colombo

The Executive Center (TEC), Asia’s largest premium workspace provider with operations in 16 countries across Asia Pacific, the Middle East and Australia, is set to further expand its presence 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 Center in Colombo.

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

Located in Colombo’s iconic Twin Towers, the newly designed workspace adheres to international design standards, promising enhanced experiences and enhanced productivity for its members. Currently, TEC’s overall occupancy rate in Sri Lanka is 96%, making it a preferred choice for businesses. Building on the success of its existing centers, the new additional space spans approximately 9,000 square feet. with a total of 160 workstations, will offer state-of-the-art facilities including a lounge, coworking space, meeting rooms, telephone booths and a barista bar. This is another step towards the company’s continued expansion in South Asia, supported by strong demand for flexible workspaces.

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

In 2023, TEC significantly expanded its global presence by adding 26 new centers, bringing its total to more than 220 centers across 36 cities. The most notable expansion took place in South Asia and the Middle East, where 12 new centers were opened, doubling TEC’s presence in the region since pre-pandemic times. TEC will announce further expansions in India and the Middle East in 2024. As TEC celebrates 30 years of excellence this year with its strong financial performance and efficient business model, it is well positioned to continue to dominate the spaces sector high-end work.