WeWork India Adds 2.25 Lakh Sq Ft | Embassy REIT Buys ₹48.29 Cr BKC Office | Office Occupancies Could Near 90% by March 2027
This week’s FLEXO newsletter brings you the latest developments from India’s commercial real estate market. WeWork India is expanding its footprint across Bengaluru and Pune, while Embassy REIT is strengthening its presence in Mumbai’s BKC. At the same time, office occupancy across India’s top markets is expected to move closer to 90%, reflecting continued demand from GCCs, flexible workspace operators and corporates. Let’s explore the full story in this week’s updates!
WeWork India Adds 2.25 Lakh Sq Ft Across Bengaluru and Pune
WeWork India has opened two new flexible workspace centres, adding approximately 2.25 lakh sq ft and more than 4,500 desks to its portfolio. The WeWork Infinix Palladium in Whitefield, Bengaluru spans around 1.7 lakh sq ft with more than 3,100 desks, while WeWork Millennium Towers in Wakad, Pune covers about 55,000 sq ft with around 1,400 desks. The company separately has nearly 1.8 lakh sq ft leased to enterprise clients at Millennium Towers under its managed office offering. As of Q1 FY27, WeWork India operated across eight cities with more than 1.33 lakh desks.
Embassy REIT to Acquire ₹48.29 Crore Office Asset in BKC
Embassy Office Parks REIT will acquire an 8,048 sq ft commercial unit at First International Financial Centre in Mumbai’s BKC for ₹48.29 crore. The ground-floor premises comprise 5,231 sq ft of carpet area and 8,048 sq ft of saleable area, along with exclusive rights to seven car parking spaces. The property is being acquired from Citigroup Global Markets India through Earnest Towers, a special purpose vehicle of the REIT, with completion expected by Q3 FY27. The acquisition will further consolidate Embassy REIT’s ownership in FIFC, where it already owns around 0.4 million sq ft.
Office Occupancies Could Approach 90% by March 2027
Occupancy across India’s top six office markets is projected to reach 88.5% to 89% by March 2027, according to an ICRA report. The markets recorded around 70 million sq ft of net absorption in FY26 against 57.8 million sq ft of new supply, reducing vacancy to 12.2%. Despite an expected 58 to 60 million sq ft of fresh supply in FY27, demand from GCCs, flexible workspace operators and domestic corporates is expected to support further occupancy gains. GCC expansion is expected to remain particularly important in Bengaluru, Hyderabad, Chennai and Delhi-NCR.
DoorDash Opens First India Office in Hyderabad
DoorDash has opened its first India office in Hyderabad’s HITEC City, starting with around 500 professionals and planning to scale its workforce to more than 3,000 over the next two years. The hub will initially house Customer Experience and Integrity and general and administrative teams supporting DoorDash’s global operations. Hyderabad will be one of only three DoorDash-owned CXI hubs globally, alongside facilities in Tempe and Mexico City. The move adds another global technology and operations employer to Hyderabad’s growing GCC ecosystem.
Technopark Invites Bids to Operate GCC Launchpad
Technopark in Thiruvananthapuram has invited bids from experienced managed-office operators to run the Keralam GCC Launchpad at its Phase I campus. The proposed facility at the Chaliyar IT Building will provide ready-to-use, fully serviced office space for global companies looking to establish operations in Kerala, along with government facilitation for company formation and regulatory compliance. The selected operator will manage around 50,000 sq ft across the ground, first and second floors under a 20-year lease. Proposals are due by October 31, 2026.
Vishal Dadlani Sells Mumbai Commercial Unit for ₹3.34 Crore
Singer and music composer Vishal Dadlani has sold a commercial unit in Goregaon West, Mumbai, for ₹3.34 crore. The property, located at Shalimar Miracle, has a carpet area of 641 sq ft and a built-up area of approximately 770 sq ft. Dadlani had purchased the property in 2016 for ₹3.25 crore, while the latest transaction was registered in October 2026.
Smartworks Secures ₹305 Crore in New Corporate Deals
Smartworks has signed new office leasing agreements with corporate clients that are expected to generate ₹305 crore in contracted rental revenue over terms of up to 60 months. The new deals add to the company’s contracted rental revenue, with Smartworks having previously reported ₹5,400 crore as of June 30, 2026. The latest contracts span multiple cities and sectors, including technology, research, consulting, healthcare, sportswear and lifestyle. Large corporates account for around 92% of Smartworks’ revenue, highlighting continued enterprise demand for managed workspace.
ICICI Prudential AMC Acquires 56% Stake in Bengaluru Office Tower for ₹626 Crore
ICICI Prudential Asset Management Company has acquired a 56% stake in the Purva Zentech commercial tower on Bengaluru’s Kanakapura Main Road, representing more than 500,000 sq ft of office space. The transaction is valued at approximately ₹626 crore and adds another significant institutional investment to Bengaluru’s commercial real estate market. The acquisition gives ICICI Prudential AMC a substantial interest in a large office asset in one of the city’s established commercial corridors.
As India’s commercial real estate market continues to evolve, this week’s developments highlight three clear trends: flexible workspace is expanding, corporate demand remains strong, and institutional investors are continuing to deploy capital into office assets. From WeWork India’s expansion and Smartworks’ new enterprise contracts to DoorDash’s Hyderabad entry and Embassy REIT’s BKC acquisition, the market is becoming increasingly diverse across cities, occupier types and asset strategies.
Looking for the right workspace for your business? Let FLEXO help you find it. Get in touch at +91-95133 92400 or visit flexospaces.com. We’ll keep you updated with more insights next week!
