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IndiQube Spaces Ltd has leased over 48,000 sq ft of managed office space in Bengaluru to a healthcare technology firm for establishing a global capability centre (GCC), with the transaction valued at around INR 75 crore over five years. The deal reflects continued demand from multinational occupiers for flexible and managed workspaces in key IT markets. IndiQube, which operates across 17 cities with a portfolio exceeding 9.5 million sq ft, provides co-working and managed office solutions to corporate clients. The transaction highlights the role of flexible workspace operators in facilitating large-format office requirements for GCCs in India's commercial real estate sector.
IndiQube Spaces Ltd has leased more than 48,000 sq ft of managed office space at one of its centres in Bengaluru to a healthcare technology company for the establishment of a global capability centre (GCC), according to a regulatory filing issued in recent days. Advertisement
The agreement, valued at approximately INR 75 crore over a five-year tenure, reflects continued demand for flexible and managed office solutions among global firms setting up or expanding operations in India. The client, identified as a leading player in the healthcare technology segment, will utilise the space to house its GCC operations.
The transaction highlights the growing role of managed workspace providers in the commercial real estate sector, particularly in catering to large occupiers seeking scalable and ready-to-use office environments. Co-working and flexible office operators typically lease commercial space from developers and sub-lease it to enterprise clients, offering customised solutions that reduce upfront capital expenditure and provide operational flexibility.
Bengaluru continues to remain a key market for such transactions, driven by its established position as a technology and services hub. The city has witnessed sustained demand from global corporations setting up GCCs across sectors including technology, healthcare, finance and engineering services. These centres often require high-quality office infrastructure with the ability to scale operations over time.
IndiQube Spaces Ltd, which was listed on stock exchanges in the past year, currently operates across 17 cities with a portfolio of more than 9.55 million sq ft under management. The company provides a range of workspace solutions, including co-working, managed offices and enterprise-grade customised facilities for large corporates.
Industry participants indicate that the flexible workspace segment has evolved beyond catering to startups and small businesses, with increasing participation from large enterprises and multinational companies. GCCs, in particular, are emerging as a significant demand driver, given their need for rapid deployment, operational efficiency and cost optimisation.
The structure of such leasing arrangements allows occupiers to focus on core business operations while outsourcing workspace management, including facility maintenance, design and administrative services. For operators, long-term contracts with enterprise clients provide stable revenue streams and improved occupancy levels across their portfolio.
The deal underscores broader trends in India's office market, where flexible workspace providers are playing an intermediary role between developers and occupiers, facilitating efficient utilisation of commercial real estate assets.
With continued expansion of GCCs and sustained demand for Grade A office space, managed workspace operators are expected to remain integral to the evolving dynamics of India's commercial real estate sector, particularly in major urban centres such as Bengaluru.
Source - PTI
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