Page 3 - Office Spaces

IndiQube to expand into new cities, targets 30% revenue growth in FY26

The recent market debutant entered new markets like Kolkata and Mohali in the quarter ended June

Knight Frank upbeat about the next phase of India's robust growth

The need for GCCs and India-facing businesses in India has increased dramatically. These two factors have contributed to the office demand, said Baijal, Knight Frank India, chairperson

Net office leasing in top 6 cities likely to sustain at record levels: ICRA

Rating agency ICRA on Thursday said net leasing of office space in the top six cities rose 14 per cent to 65 million sq ft last fiscal and the demand is likely to sustain during 2025-26. In a statement on Thursday, ICRA said it expects the net absorption or leasing of office space in 2025-26 across the top six cities (Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai Metropolitan Region (MMR) and Pune) to sustain at all-time high levels witnessed in the preceding year. The demand is driven by Global Capability Centres (GCCs), Banking, Financial Services and Insurance (BFSI) institutions, flex-space operators, and domestic Information Technology-Business Process Outsourcing (IT-BPM) firms. Quoting data of PropEquity, ICRA said that the net absorption stood at a record 65 million square feet in 2024-25 (14 per cent YoY growth) across India's top six cities. In the April-June quarter of this fiscal, 17 million sq ft of office spaces have been absorbed.

Knowledge Realty Trust to raise ₹4,800 cr, eyes asset buys post IPO listing

Blackstone- and Sattva-backed office REIT to raise ₹4,800 crore next week; India's largest REIT on listing eyes 60% net income growth by FY29

Smartworks Coworking aims to 'scale up' business after market debut

Smartworks plans to sustain 35% growth after its NSE-BSE listing, riding on robust demand for co-working spaces, expanding presence, and strong cash inflows

Office demand in Navi Mumbai rises 40% in 2024, to grow further: CRE Matrix

Demand for premium office spaces in Navi Mumbai rose 40 per cent in 2024 to 5.8 million square feet, and the leasing activities are expected to increase further on affordable rent, according to CRE Matrix. Real estate data analytics firm CRE Matrix Co-founder and CEO Abhishek Kiran Gupta noted, "Navi Mumbai is one of the most affordable office markets across major 7-8 cities, with a weighted average rental of around Rs 65 per square feet." He said the demand has been rising in the key office micro-markets of the Mumbai Metropolitan Region (MMR). In the first six months of this calendar year, he said the gross leasing of office space in Navi Mumbai exceeded by nearly 0.8 million (8 lakh) square feet. "There is a huge demand for Grade A office space in Navi Mumbai from global and domestic corporates," he said. The demand will further rise because of the infrastructure development in this part of MMR, including the new airport, Gupta observed. Tata Realty & Infrastructure Ltd, K .

India sees highest ever office leasing in H1 2025 at 48.9 mn square feet

Strong demand from Global Capability Centres and flexible office spaces drove India's office leasing to a record 48.9 million sq ft in the first half of 2025

Gross office space leasing soars 5% in Q2 of 2025: Cushman & Wakefield

With total leasing in the first half of the year at approximately 42 million square feet, the sector is on pace to exceed 90 million square feet in annual activity, potentially setting a new record

Office space demand from GCCs up 24% at 31.8 mn sq ft in FY25: Vestian

Leasing of office spaces to set up Global Capability Centres (GCCs) increased by 24 per cent last fiscal to 31.8 million square feet across seven major cities, according to a report. Data from real estate consultant Vestian showed that the leasing of office space to establish GCCs stood at 31.8 million (318 lakh) square feet in 2024-25 as against 25.6 million (256 lakh) square feet in the preceding year. "Over the past couple of years, GCCs have been the primary growth driver of India's office market. This growth has been fueled by cost optimization strategies, a skilled talent pool, rapid infrastructure development, favourable government policies, ease of doing business, and a supportive business environment," Vestian said in a statement on Wednesday. As per the Vestian's report, GCCs accounted for 42 per cent of the pan-India absorption in 2024-25, registering a marginal increase from 41 per cent a year earlier. Shrinivas Rao, CEO of Vestian said, "GCCs contribute significantly t

Urban Vault to invest ₹100 crore in FY26 to expand co-working footprint

The company adds over 700 desks in Gurgaon and plans to close FY26 with an annual run rate of ₹250 crore, with further expansion across Noida, Pune and Bengaluru

Co-working operators' office leases up 48% in top 7 cities: Colliers

Co-working centre operators have rented 65 lakh square feet of office space during the January-June period this year across seven major cities, up 48 per cent on an annual basis, on rising demand for managed and flexible workspaces from corporates, according to Colliers India. Co-working operators leased 44 lakh square feet in the corresponding period of 2024 calendar year across seven cities -- Delhi-NCR, Mumbai, Kolkata, Chennai, Hyderabad, Pune and Bengaluru. The co-working operators take office spaces on rent from real estate developers and property owners and then sub-lease it to corporates of all sizes. Although many corporates have started opting managed office space provided by co-working operators to save cost and hassles, a large number of companies still take conventional workspaces directly from builders and property owners. Colliers India data showed that the total gross leasing or absorption of office space rose 13 per cent to 337 lakh (33.7 million) square feet durin

Grade A office leasing up 11% in Q2 CY25, led by flex space demand: Report

Indian commercial real estate likely to have 'another impressive year' in 2025: Colliers

Office space demand rises 11% in April-June across top 7 cities: Colliers

Gross leasing of office space rose 11 per cent to 178 lakh sq ft across seven major cities during the April-June period on healthy demand from corporates despite global economic uncertainties, according to Colliers. The gross leasing stood at 161 lakh sq ft in the year-ago period across seven major cities. Real estate consultant Colliers India data showed that demand of workspace increased in six cities -- Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, and Pune. The leasing activities declined only in Mumbai, as per Colliers. The gross absorption or leasing does not include lease renewals, pre-commitments and deals where only a letter of Intent has been signed. "India's office market continues its upward trajectory in 2025, building on the momentum of past two years," said Arpit Mehrotra, Managing Director, Office Services, India, Colliers. Backed by diversifying occupier base, a steady supply pipeline and growing investor appetite, he said the calendar year 2025 is shaping u

Wipro inks 10-year lease for office space in MMR's Mindspace Business Park

The tech firm has taken space in building no. 2 of Mindspace Business Park with parking for 194 cars and a monthly rent of Rs 2.5 crore at Rs 64 per sq ft

Listed REITs can expand as 47% of office stock is over 10 yrs old: Anarock

Anarock and Colliers reports show only 117.2 million sq. ft. under listed REITs in India with ageing Grade A stock and micro-market concentration offering growth opportunities

Top 10 micro markets to drive 80% of India's office space growth: Colliers

A Colliers report finds that high-activity micro markets will drive the bulk of office demand and supply growth, fuelled by flex space, GCC traction and REIT-worthy stock

WeWork India expands footprint in Pune & Chennai, adds over 200K sq ft

WeWork India has secured its third location in Chennai since entering the market just over a year ago

Simpliwork expands Bengaluru footprint with 1.32 lakh sq ft office lease

The co-working firm plans to double its portfolio to 9.5 million sq ft by FY27 and expects revenue to reach ₹1,400 crore as demand for agile workspaces continues to grow

Global capability centres fuel premium play in India's office space

Demand for Grade-A, ESG-compliant, smart offices on the rise

Cushman-Nuvama JV to deploy ₹3,000 cr in 'offices of the future'

Jain explained that the GCCs' increased leasing in India has to do with the quality of talent, skill availability, and the possible cost arbitrage in India