EMEA Flex Space Market Review for Q1 2024
- Reports
- May 1, 2024
Pune experienced a significant surge in office leasing during the first half of 2025, driven by Global Capability Centres and flex space operators. Leasing reached 38–51 lakh sq ft, with GCCs alone accounting for 15 lakh sq ft in Q2. Despite rising vacancies from new supply, rents climbed 3% to ₹77/sq ft.
READ MORENeoSOFT has expanded its presence with new offices in Mumbai, Airoli, and Pune, adding 1,100 tech roles to boost its NeoNXT cloud platform. The move includes launching innovation hubs for AI, Gen AI, and automation, positioning the company as a leader in India’s evolving digital engineering and enterprise solutions landscape.
READ MOREPune’s commercial real estate market surged in early 2025, driven by rising demand from Global Capability Centres (GCCs) and flexible office spaces. Office leasing jumped 91% year-on-year, with coworking spaces making up 43% of total activity. Key hubs like Baner-Balewadi continue to lead this rapid growth.
READ MOREPune’s office space market grew 19% in 2024, leasing 80 lakh sq ft, driven by global firms, technology companies, and flexible workspaces. New supply surged 58%, and rentals reached ₹77 per sq ft. With Grade A spaces in demand and GCCs dominating, Pune is emerging as a top business hub.
READ MOREIndia Accelerator launches a 23,000 sq. ft. coworking space in Pune, catering to startups, freelancers, and businesses. Equipped with modern amenities, the 500-seat facility fosters collaboration and innovation through community events. Backed by mentorship and funding, IA supports Pune’s thriving startup ecosystem, which is ranked South Asia’s 5th largest innovation hub.
READ MOREAccording to Knight Frank, Pune has emerged as India’s second-largest coworking hub, with 123 office space collaborations since 2018. The city’s appeal lies in flexible, cost-effective workspaces, attracting businesses of all sizes. As demand rises, Pune’s coworking landscape reshapes office trends nationwide, second only to Bangalore.
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