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

India’s office market recorded a historic 43 million sq. ft. of gross leasing in H1 2026, up 5% year-on-year despite global uncertainty. GCCs and flexible workspace operators led demand, while lower new supply pushed vacancy to post-pandemic lows, strengthening rental growth and reinforcing confidence in India’s commercial real estate sector.
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Smartworks has completed the acquisition of Singapore-based Workstudio Spaces, expanding its managed workspace portfolio in the city to over 76,000 square feet across four centres. The deal adds more than 45 enterprise clients and over 1,500 seats, strengthening the company’s position in Singapore’s growing flexible workspace market.
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Awfis Space Solutions will hold a group meeting with analysts and institutional investors on July 10, 2026, in Mumbai. The session will discuss publicly available information on the company’s business and strategy, in compliance with SEBI regulations, and highlight Awfis’ commitment to transparency and regular investor communication.
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India’s office leasing declined marginally in Q2 2026, with gross leasing falling 1% to 21 million sq. ft. and net absorption dropping 14.5%. However, demand remains healthy, led by GCCs. A shortage of Grade A office supply is emerging as the primary challenge, keeping rentals firm across key markets.
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IndiQube reported a strong Q4 FY26 with revenue from operations rising 35.2% year-on-year to ₹401.5 crore while quarterly losses fell nearly 28%. The flexible workspace operator also expanded to 130 centres across 17 cities, reflecting stronger occupancy, improving operating leverage, and continued growth despite rising operating costs.
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ICICI Securities has assigned a target valuation of ₹937 to WeWork India, citing strong growth prospects driven by GCC expansion, AI-led demand, and premium flexible office solutions. The brokerage expects robust revenue and EBITDA growth while highlighting the company’s ambitious plan to expand its portfolio to 11.6 million square feet.
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