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

Smartworks has expanded its Pune portfolio by adding 1,63,942 square feet of managed office space. Backed by a ₹25 crore investment, the new facility is expected to become operational in July 2026, supporting the company’s business growth as demand for enterprise-focused flexible workspaces continues to rise across India.
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Smartworks has expanded its Singapore footprint beyond 50,000 sq ft with the launch of a new 15,000+ sq ft managed office at Manulife Tower in the CBD. The move targets growing demand from Fortune 500 firms and GCCs, while reinforcing the company’s international growth strategy.
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Kochi continues to emerge as one of India’s fastest-growing Tier-II office destinations, supported by expanding Grade-A office stock, strong leasing activity, and a growing GCC ecosystem. Flexible workspace operators led office demand with a 37% share in Q1 2026, while retail and residential markets also recorded healthy growth.
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Premium flexible workspace operator The Executive Centre (TEC) has leased 465,000 sq ft across Bengaluru, Hyderabad, and Chennai, adding over 6,000 workstations. The expansion is being driven by rising demand from GCCs, multinational corporations, and enterprise occupiers, reinforcing South India’s position as a major growth engine for India’s office and flexible workspace market.
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India’s leading flexible workspace operators are expected to invest ₹4,000-4,500 crore to add 15-20 million sq ft of new capacity over the next two financial years. The expansion is being driven by strong enterprise and GCC demand, with flex workspaces projected to account for nearly 25% of office absorption in the coming years.
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The Executive Centre has leased 2 lakh sq ft at Avance Business Hub in Hyderabad’s HITEC City for a premium flexible workspace centre. The five-year deal reflects rising enterprise demand, strong IT corridor growth, and continued investment in serviced offices, with expansion plans targeting scalable workspace solutions across India’s major technology markets.
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