With the fall in revenues and reduction in staff, companies have started looking at compact office spaces that have all the modern amenities and yet do not cost much in terms of rentals and maintenance. Therefore, the demand for serviced office space has grown. Serviced offices provide a one-stop solution to companies and entrepreneurs, offering services such as executive offices, internet connectivity, video conferencing, wireless access, telephone and fax lines, receptionists and client service representatives, apart from on-site executive assistants, and meeting/board rooms on a pay-as-you-use basis. Ms Meenal Sinha, managing director, Servcorp India, said, "Slowdown has affected the serviced office business in a positive way. Our business grew 30 per cent in the past few months as multinational corporations and domestic players were looking at furnished office accommodation for convenience and cost-savings as team strength and expense sheets have been curtailed."

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