Novel Office US Revenue and Competitors

It was 2008 in Bangalore when Novel Office was first incorporated, a part of the Novel Group that was established in 1993 in Dallas, TX. We provide flexible offices that are environmentally-friendly and can be customized to specification so there isn't any construction waste and we can tailor them to the exact requirements of our customers. We started in India from humble beginnings, offering fixed dry wall partitions. After conducting extensive research over a 2-year period, we developed a completely customizable layout which can be set up in 10 days, compared to the 3-4-month period such an office would usually take to construct. To prove our concept, we bought an empty building from one of the top builders in India, which had been vacant for over six years and tenanted it in under a year. Just four months for the layout, and a little under 8 months to tenant it. With our proven concept, we decided to expand out US operations. We acquired a building in The Woodlands in Houston, TX, in March of 2017. It had an occupancy rate of 62% and over 26,000 square feet of vacant space. At the time, the Houston Real Estate Market was facing a downturn due to Oil Burst, and we specifically chose it, to test our model in a bad real estate market. We applied our concept to The Woodlands and within five months, in August 2017, we had achieved 100% occupancy. Our model was a success. We provide solutions from moveable glass walls, turnkey build out solutions, and are completely flexible when it comes to finishes, furnishings, and facilities, along with whatever else one can think of. As a landlord, it is natural for us to provide our tenants with the best space that we can. We have our operations across Bangalore, India in four locations. In the US, our centre in The Woodlands, TX is doing better than ever. In total, our inventory is about 700,000 Square Feet. We are just starting, and we'll soon be expanding our operations across India and the USA.