Urban Vault has delivered a 16,000 sq ft managed office for Green SM in Gurugram, marking the electric ride-hailing company’s first workspace in India. The partnership reflects growing demand for flexible office solutions among global firms entering the country, while coworking operators continue expanding rapidly across major Indian cities.
India’s flexible office market has received another boost as Urban Vault, a leading managed workspace provider, has handed over a 16,000 sq ft office facility in Gurugram to Green SM, the electric ride-hailing company backed by Vietnam’s Vingroup. The new workspace, located on Golf Course Road in Sector 54, will accommodate nearly 500 employees and serve as Green SM’s first operational office in India. The deal highlights a growing trend among international companies entering the Indian market and choosing managed workspaces over conventional long-term office leases.
The partnership is part of a broader arrangement under which Urban Vault will support Green SM’s office requirements across major Indian cities. For fast-growing companies, flexible workspaces provide speed, scalability, and operational efficiency—factors that are becoming increasingly important as businesses seek to establish or expand their presence without making large upfront real estate commitments. Urban Vault, which currently manages more than 2.80 million sq ft of workspace and over 70,000 seats across 80 locations, has emerged as one of the key players benefiting from this shift in workplace strategy.
Demand Remains Strong Across Major Cities
Commenting on the partnership, Urban Vault Co-founder and CEO Amal Mishra said, “The trust placed in Urban Vault by Green SM reflects our ability to deliver high-quality, scalable, and agile workspace solutions for global enterprises entering India.” He added that the company is committed to supporting Green SM’s growth plans as it builds its operations in the country. Mishra also noted that while Urban Vault currently operates only one centre in the Delhi-NCR region, discussions are underway to expand further in Gurugram and Noida to capture rising demand.
According to Mishra, demand for managed and flexible office spaces remains particularly strong across India’s Tier I cities. While activity in Tier II markets is still relatively limited, industry participants remain optimistic that adoption will gradually increase as businesses explore more agile workplace models beyond major metropolitan hubs.
Coworking Sector Continues Its Growth Momentum
Green SM India CEO Bach Tuan Anh emphasised the importance of having a dependable workspace partner during the company’s expansion journey. He stated, “India is a strategic market for Green SM and as we build our presence across the country, having a reliable workspace partner is essential. Urban Vault’s ability to provide fully managed, flexible, and scalable office solutions across key cities aligns perfectly with our expansion plans.”
The announcement comes at a time when India’s coworking and flexible office sector is experiencing rapid growth. Recent market data from Colliers India shows that coworking operators leased 3.9 million sq ft of office space during the January–March 2026 period, representing a 77% year-on-year increase. The surge reflects strong enterprise demand for flexible workstations, managed offices, and hybrid workplace solutions. Urban Vault’s latest deal with Green SM underscores how workspace flexibility is increasingly becoming a critical component of corporate expansion strategies, particularly for international businesses entering one of the world’s fastest-growing office markets.
