India's Leap Towards Sustainable & Innovative Workspace Design
- Industry News
- March 13, 2024

Prime Offices Fund has acquired a 1.1 million sq ft Grade A office asset in Pune’s Kharadi for nearly ₹1,000 crore. The joint venture deal expands the fund’s footprint to three cities, taking its total portfolio to 3.8 million sq ft and reinforcing its institutional office investment strategy.
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MetLife has leased 58,290 sq ft at Oxygen Business Park, Noida, strengthening its GCC footprint in NCR. The deal follows large office transactions by EY GDS, IBM, and Eternal Ltd. Stable rentals near ₹56–57 per sq ft and structured escalations highlight sustained demand for Grade A office space.
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Blackstone and Bagmane Group-backed Bagmane Prime Office REIT has named Richard Hugh Andrew as CEO ahead of its proposed ₹4,000-crore listing. With 20 million sq ft in Bengaluru, 98% occupancy, and strong GCC-led demand, the platform could become India’s sixth listed REIT, deepening institutional participation in commercial real estate.
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India’s flexible workspace sector has grown rapidly, expanding from 34 million sq. ft. in 2019 to nearly 100 million sq. ft. in 2025, according to JM Financial. The brokerage has initiated ‘buy’ ratings on WeWork India, Smartworks, and IndiQube, citing strong enterprise demand, rising GCC activity, and scalable managed office platforms.
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