Coworking firm Incuspaze has leased 1.15 lakh square feet in Bengaluru’s Whitefield to open a facility with 1,800 seats. This expansion supports their growth strategy amid rising demand for flexible workspaces in southern India, including Chennai and Hyderabad.
Coworking giant Incuspaze is making a significant move to cater to the growing demand for flexible workspaces by leasing a massive 1.15 lakh square feet in Bengaluru. This new facility in Whitefield, a prime tech hub, marks a major milestone in the company’s aggressive expansion strategy.
Incuspaze’s founder and CEO, Sanjay Choudhary, has always been committed to fostering a collaborative and creative environment for businesses. “Our new facility is designed to foster creativity and collaboration among businesses,” Choudhary stated, reaffirming the company’s commitment to providing dynamic and versatile workspaces.
The new Bengaluru centre will house 1,800 seats, adding to Incuspaze’s impressive portfolio. Since its establishment in 2016, Incuspaze has grown remarkably to encompass 44 centres across 18 cities, totalling 3 million square feet. This rapid expansion is a testament to the company’s ‘space-as-a-service’ model, which leverages technology to offer innovative real estate solutions tailored to enterprises, MSMEs, and startups.
The decision to expand in Bengaluru is not arbitrary, but strategic. Vestian CEO Shrinivas Rao said, “Bengaluru is India’s most active office market, accounting for the highest absorption of 23 per cent in pan-India during H1 2024.” The IT-ITeS sector leads this absorption, with flex spaces contributing to 5.4 per cent. Rao further noted that flex spaces constitute nearly 16 per cent of total absorption across India for the same period, with expectations of rising demand as rental costs soar in the city’s core office markets.
Incuspaze’s focus is wider than Bengaluru’s. The company aims to broaden its reach in southern India, targeting key cities such as Chennai and Hyderabad. This regional focus is part of a broader strategy to meet the surging demand for flexible office solutions driven by the evolving needs of modern businesses.
In summary, Incuspaze’s substantial lease in Bengaluru signifies a physical expansion and a strategic commitment to supporting the dynamic needs of the workforce in India’s bustling tech hubs. As the demand for flexible workspaces grows, Incuspaze is poised to remain at the forefront, offering innovative and adaptable solutions for various business needs.
