Islamabad : ‘The Hive’ – the fastest growing flexible office space provider in Pakistan – signed a 20-year tenancy agreement for the Oversees Employment Corporation Tower...
Islamabad : ‘The Hive’ – the fastest growing flexible office space provider in Pakistan – signed a 20-year tenancy agreement for the Oversees Employment Corporation (OEC) Tower here on Wednesday, making it The Hive’s fourth hub in the country and the second in Islamabad.
The Pakistan Real Estate Investment Management Company (PRIMACO), a 100% subsidiary of the Employees Old Age Benefits Institution (EOBI), Ministry of Overseas Pakistanis and Human Resource Development, executed the handover to Infinitum Innovations (of which The Hive is a brand) at a ceremony that had Special Assistant to Prime Minister (SAPM) on Overseas Pakistanis and Human Resource Development Sayed Zulfiqar Abbas Bukhari as chief guest.
According to representatives, the tower is expected to become operational in a year’s time and will contribute over Rs300 million to EOBI in addition to the incremental value over the next 20 years.
Covering a total of 100,000 sq. feet, this will become The Hive’s largest hub to date. Committed to leading the future of workspace, Owais Zaidi, the CEO of Infinitum Innovations explained, “Spaces are a powerful tool to build communities, inspire innovation, and drive engagement and efficiency. We have always designed our spaces with the intention of creating a holistic experience for people who work from The Hive. And with this new tower, we are looking to set an example for smart, flexible office spaces. We have already begun works on using technology to improve construction processes, space utilisation, and workspace efficiency.”
Zaidi further added, “In addition to positioning ourselves at the forefront of smart building innovation, we are equally committed to sustainability in the workspace and will therefore be investing in converting this into a LEED-certified building.”
Leadership in Energy and Environmental Design, LEED, is the most widely used green building rating system in the world.
The Hive has set a benchmark for coworking and serviced offices facilities in the country with its current hubs in Lahore, Karachi, and Islamabad and is host to some of the leading technology giants, large FMCGs, freelance professionals and mature start-ups.