WeWork India has leased about 1.75 lakh sq ft at Skyview 20, Hyderabad, and sub-leased the entire Grade-A space to JP Morgan at a substantial rent premium. The deal highlights rising demand for full-floor managed offices, Hyderabad’s strengthening flex market, and JP Morgan’s continued expansion across India’s key commercial hubs.
Hyderabad has recorded one of its biggest office deals, with WeWork India leasing around 1.75 lakh sq ft at Skyview 20 in Hitech City and sub-leasing the entire space to JP Morgan Services India. The transaction underlines how fast global banks and tech majors are shifting to “full-floor managed solutions” in India’s key tech corridors.
Big-ticket flex deal in Skyview 20
According to registration records and CRE Matrix data, WeWork has signed a five-year lease with Mahanga Commercial Properties for two full floors in Skyview 20, a Grade-A tower in Madhapur. The starting rent is ₹1.72 crore per month, or about ₹98 per sq ft, backed by a security deposit of ₹10.3 crore.
Soon after, the flex operator entered a 60-month General Service Agreement with JP Morgan Services India, transferring the complete 1.76 lakh sq ft to the financial services major. The agreement starts at a monthly rent of ₹4.38 crore, or ₹249 per sq ft, for 1,501 desks and 176 dedicated car parking slots. The rent spread highlights the premium that large occupiers are willing to pay for “ready-to-use, scalable facilities” instead of managing fit-outs and operations themselves.
Why JP Morgan is paying a premium
For JP Morgan, the deal plugs directly into Hyderabad’s western IT corridor, with metro access, walking distance to major tech campuses, and a dense cluster of BFSI and global capability centres (GCCs). Skyview 20, part of the larger Skyview campus, has emerged as a “preferred hub” for enterprise occupiers that want high-spec infrastructure without taking bare-shell space.
Analysts say the transaction reflects a wider Hyderabad trend in which multinationals are choosing built-out, managed floors over traditional leases. This approach shortens fit-out timelines, supports compliance with global workplace standards, and makes it easier to “expand or customize quickly” as headcount grows. For firms running large back-office and technology operations, that combination is often more valuable than chasing the lowest base rent.
WeWork’s enterprise pivot gains more weight
The deal also fits neatly into WeWork India’s enterprise strategy. The operator is repositioning itself from a coworking brand towards a managed workspace platform focused on banking, consulting, and technology clients. High-value, multi-floor agreements, such as the Skyview 20–JP Morgan transaction, allow WeWork to deepen relationships with blue-chip occupiers while locking in long-term revenues across top Indian cities.
Earlier this year, JP Morgan also pre-leased 1.16 lakh sq ft in a Bandra Kurla Complex tower in Mumbai at a monthly rent of ₹6.91 crore, reinforcing its long-term view on India as a strategic global operations hub.
Hyderabad’s flex market steps up
Hyderabad’s flex market has been steadily gaining share within India’s office ecosystem. With 79.7 million sq ft of flex stock across the top eight cities as of Q2 2025, India is already the “Asia-Pacific region’s largest flex market”. It is projected to cross 100 million sq ft by 2026, according to Cushman & Wakefield’s Global Trends in Flexible Office 2025 report.
By pushing a single, large enterprise requirement through a managed operator, the WeWork–JPMorgan deal strengthens Hyderabad’s position in this growth story. It signals that Hitech City, the Financial District, and Gachibowli will continue to attract global banks and GCCs seeking future-ready, flexible offices rather than traditional, long-term leases.
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