Manufaqtury (Manufactory of Offices)

Manufaqtury is a PropTech company that provides offices for medium-sized businesses and corporations with a built-to-suit coworking service: the business signs a lease agreement, and Manufaqtury prepares offices at its own expense or builds them in accordance with customer requirements. In the future, the company manages and develops spaces using an IT platform.

Manufaqtury bills itself as an "operating system" of real estate (Q: OS) that accelerates occupancy and promotes the inner life of business centers or multifunctional complexes, attracting a new audience and creating additional traffic for infrastructure.

Financial performance

2025: Revenue growth for 5 years by 355% to 1.2 billion rubles

The revenue of MANUFAQTURY for five years increased by 355% and amounted to 1.2 billion rubles in 2025. According to forecasts, by the end of 2026 this figure will reach 1.996 billion rubles. Dynamic growth was the result of the development of several areas of activity: management of property assets and their operation, fit-out offices "turnkey," digitalization and provision of client service. The player focuses on increasing the capitalization of owners' assets: since 2023, the management company has earned over 3.08 billion rubles for its clients, and the average growth in net operating income at the facilities was 65%. The company announced this on December 17, 2025.

The company's business began with the launch of a network of service offices under its own management. The product has been developing since 2019 and as of December 2025, MANUFAQTURY ranks 11th in terms of service space and the number of jobs among all networks: The player's portfolio includes three popular sites with a total area of ​ ​ 15.7 thousand square meters. m and more than 1.5 thousand workplaces. As a result of the rotation of tenants in 2025 and an increase in rental space, the projected revenue increase in service offices over the next three years will amount to 680 million rubles, which exceeds the indicators of the base scenario while maintaining the current terms of contracts by 210.8%. The growth of net operating income for the same period will amount to 309.84 million rubles.

{{quote 'In 2020, the list of business areas was replenished with the option of creating headquarters according to the built-to-suit format, which gradually transformed into a fit-out service - finishing offices in the "one window" format, with a single contract and a fixed budget. As a general contractor, we take over the entire repair process - from the design project to furnishing and final cleaning. To date, we have created 63.2 thousand square meters. m of offices with 13.5 thousand employees, - said Olga Volodina, co-founder, general director of MANUFAQTURY. }}

With the introduction of the fit-out service, the company launched a detailed guide for market participants on the cost of building materials, based on joint research with KUBRAVA PROJECT MANAGEMENT. In 2025, the first online bot, the Repair Cost Calculator, was introduced. A publicly available tool allows you to calculate the cost of turnkey repairs of any office - "in concrete" or for renovation - in all details and with hidden items of expenses.

Another major strategic focus was property management - Property and Facility management. We are working comprehensively to increase the profitability and capitalization of assets. On average, at the facilities under our management, the growth of NOI - net operating income, is 65%. In total, the Criminal Code earned over 3.086 billion rubles for client office facilities in the period from 2023 to the end of 2025, including through non-rental sources of income, "said Andrei Kulagin, co-founder and managing partner of MANUFAQTURY.

MANUFAQTURY is an active player in the digitalization of commercial real estate. One of the first products was the Q: OS platform for managing flexible offices. The system allows you to configure the sharing of office resources - workplaces, meeting rooms, parking, etc. Since 2022, the development has been implemented in 27 offices located in 10 cities. The system is used by 11 thousand active users, with its help more than 245 thousand bookings were made. The average share ratio is 5.5.

History

2021

Main activity

As of December 2021, the main activity of Manufactory of Offices LLC is the lease and management of its own or leased real estate.

Attracting 2 billion rubles

In early August 2021, it became known about the investment of 2 billion rubles in Manufaqtury. WS Capital, an investment company, has invested in PropTech.

The funds received startup intend to spend, in particular, to achieve the goal of becoming the largest EEU in a company operating in the built-to-suit format, or "build-to-order." On the Manufaqtury page Facebook , by the beginning of August 2012, it was said that the area of ​ ​ real estate managed by the company had recently grown to 10 thousand square meters. m.

Russian developer of the "operating system" for real estate Manufaqtury attracted 2 billion rubles of investment

As Forbes writes with reference to the director of the WS Capital fund Andrei Malyshev, by 2021 there is a high market demand for a new type of office and technology for managing office real estate in the context of the COVID-19 coronavirus pandemic. Through investments, Manufaqtury will primarily finalize a mobile application that will allow employer clients to reduce office costs, says startup co-founder Andrei Kulagin. In his opinion, in "post-covid reality, the number of employees no longer determines the office footage."^[1]

2019: Founding of the company

The startup was founded in 2019 by the former managing partner of the Deworkacy coworking network Andrei Kulagin and Olga Volodina, who previously worked at the Moscow Innovation Agency and the Internet Initiatives Development Fund (IIDF).

Notes