Co-working firm Incuspaze leases 1.15 lakh sq ft office space in Bengaluru

Incuspaze is also planning to expand its footprint in neighbouring Chennai and Hyderabad by 2 million square feet over the next two years

Published on: Jul 15, 2024, 20:15:29 IST

By HT News Desk

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Gurugram-based flexible workspace provider Incuspaze has leased 1.15 lakh square feet of office space in East Bengaluru’s Whitefield area, the company said in a statement on July 15.

Coworking firm Incuspaze leases 1.15 lakh square feet office space in Bengaluru (Representational photo) (Incuspaze)

Additionally, the player plans to expand its footprint in neighbouring Chennai and Hyderabad by 2 million square feet over the next two years, the statement showed.

“With a motive to cater to the rising demands of today’s corporate clan, it is crucial for us to expand through the length and breadth of India,” said Sanjay Chatrath, Managing Partner, Incuspaze.

Also Read: Flexible space provider Incuspaze leases 5.8 lakh square feet space in Gurugram

The new facility in Whitefield will accommodate 1,800 seats. The standalone building is at a distance of 50 meters from the metro station, and located near campuses of several Fortune 500 companies, the company said in a statement.

Earlier this month, the co-working firm announced that it has leased 5.8 lakh square feet of office space in Gurugram, which included 2.20 lakh sq ft space in M3M Urbana Premium on Golf Course Extension Road, and 3.5 lakh sq ft in Udyog Vihar.

Also Read: Office leasing across top 6 markets up 16% annually at 15.8 mn sq ft in Q2 2024; Mumbai and Bengaluru drive demand

The flexible workspace provider is currently present in 44 locations across 18 cities with a total portfolio of around 3 million square feet.

Rising trajectory of flexible office segment across India

According to a June 2024 report by property consultancy Colliers, the flexible office space segment across the top-6 cities in India registered its highest ever quarterly demand in the April-June period at 2.6 million square feet. Bengaluru and Delhi-NCR alone accounted for 65% of this demand.

“Flex operators have already leased about 4.4 million square feet of space in H1 2024, underscoring the occupiers’ continued preference for flex spaces,” said Vimal Nadar, who is a senior director and head of research at Colliers India.

Also Read: BHIVE coworking leases commercial space from Adani Realty for ₹1.39 crore a month

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