MUMBAI: Flexible office spaces provider Incuspaze has leased 57,351 square feet in Mumbai at Hiranandani Light Hall Business Park.
The company has recently added 5.8 lakh sq ft in Delhi NCR and 1.15 lakh sq ft office space lease in Whitefield, Bangalore and plans to expand 2 million square feet of workspace over the next two years in South India. Incuspaze has a nationwide presence in 44 locations across 18 cities with a total portfolio of 3.5 million sq. ft.
The expansion into Mumbai is driven by the increasing presence of multinational corporations (MNCs) and foreign direct investment (FDI) in the city.
“Our new location will offer working environment and foster productivity and growth for our clients,” said Sanjay Choudhary, CEO & Founder, Incuspaze.
Mumbai has experienced a significant surge in office space demand, with gross absorption doubling in Q2 2024 compared to Q2 2023. The city, along with Bengaluru, led office demand in Q2 2024, accounting for 52% of India’s total leasing activities.
Flex space operators leased 2.6 million sq ft of office spaces across the top six cities, with Mumbai being a significant contributor.
“Our new facilities are designed to foster collaboration, innovation, and productivity, providing businesses of all sizes with the flexibility and resources they need,” said Sanjay Chatrath, Managing Partner, Incuspaze.
