Green SM leases 16,000 sq ft office space in Gurugram from Urban Vault

Vietnamese mobility firm expands workspace footprint as it scales its all-electric taxi service, with plans to add more facilities across the Delhi-NCR region

Vietnamese mobility service provider Green SM on Wednesday said it has leased 16,000 square feet of office space in Gurugram’s Sector 54 from managed office-space provider Urban Vault.

 

While the company did not disclose the transaction value, it said the facility will serve as a key operational hub for Green SM as it launches its app-based all-electric taxi service in the country.

 

Currently, Urban Vault is providing workspace infrastructure with a capacity of approximately 500 seats for Green SM across locations. This capacity is expected to nearly double by the end of the year as the company scales up its operations in India.

 

People in the know told Business Standard that Green SM is also in talks to open more facilities in Gurugram and Noida.

 

“Urban Vault has partnered with Green SM to support its operational requirements in Bengaluru and Gurugram. Under the new partnership, we will provide managed office solutions for Green SM across India, supporting the company's rapid expansion plans,” said Amal Mishra, co-founder and chief executive officer of Urban Vault.

 

Backed by Vietnam-based VinFast Group, Green SM commenced operations in India on June 5, with Delhi-NCR as its first market. Calling India a strategic market, Green SM India Chief Executive Officer Bach Tuan Anh said having a reliable workspace partner is essential for the company’s expansion plans in the country.

 

The deal comes at a time when Gurugram is witnessing strong activity in the office leasing market. A large share of this activity is being driven by co-working operators.

 

According to a recent report by Colliers India, co-working operators leased 3.9 million square feet (msf) of office space from developers during January-March 2026 — a 77 per cent year-on-year increase — to establish centres and meet rising demand for flexible workspaces from enterprises.

 

Apart from co-working operators, developers are also witnessing increased office leasing activity in the Delhi-NCR market.

 

Last week, Google India leased approximately 617,000 square feet of office space at Atrium Place for a total rent of Rs 671 crore over a period of five years, according to transaction documents accessed by Propstack.

 

Similarly, Airbnb leased 46,437 square feet of office space for its global capability centre at Gurugram’s DLF Cyber City last month.