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

India’s flexible workspace market is projected to grow nearly threefold to USD 9–10 billion by 2028, driven by the rapid expansion of Global Capability Centers. A new Smartworks–UnearthIQ report highlights a major shift toward asset-light office models, with flex spaces emerging as the fastest-growing segment in commercial real estate.
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Indian corporates are moving a share of their portfolios into flexible, serviced offices. Flex delivers agility, cost visibility, faster go-live timelines, and better access to talent across micromarkets, while strengthening portfolio resilience. With institutional capital backing major operators, flex has matured from a pandemic trial to a strategic CRE lever.
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India’s flexible office sector is undergoing transformation, fueled by aggregator models that streamline workspace access and drive innovation through technology. These aggregators bring together diverse coworking spaces under one virtual roof, modernising how teams discover and utilise offices for hybrid work.
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Flexible workspaces have evolved from niche startup hubs to mainstream solutions for corporations and global enterprises, driven by the need for agility, cost-efficiency, and resilience. With recent economic and security challenges—like COVID-19 and regional tensions—businesses increasingly view long-term leases as liabilities and seek office models tailored to rapid change.
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IndiQube Spaces, based in Bengaluru, is quickly establishing itself as a prominent name in India’s flexible workspace industry. As of March 2025, the company manages 8.4 million square feet across 115 centres in 15 cities and serves more than 750 clients. Although it’s still losing money, its rapid growth and expansion plans have led to an IPO of ₹700 crore. The funds will help build new centres, pay off debts, and prepare for future growth.
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Ofis Square hosted Knight Frank India at its MG Road centre to explore strategic collaboration in the flexible office sector. The event highlighted the rising demand for agile workspaces driven by hybrid work models. It reinforced both companies’ commitment to innovating India’s commercial real estate landscape through partnership and shared vision.
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