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Incuspaze Leases 1 Lakh sq ft Office Space in Gurugram

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By Rediff Money Desk, New Delhi   Dec 15, 2024 16:57

Co-working firm Incuspaze has leased 1 lakh sq ft office space in Gurugram from Bharti Real Estate to expand its business amid rising demand for managed flexible workspaces. Incuspaze will offer 1500+ seats in this upcoming centre, which is likely to be operational by March next year.
Incuspaze Leases 1 Lakh sq ft Office Space in Gurugram
New Delhi, Dec 15 (PTI) Co-working firm Incuspaze has taken on lease one lakh square feet of prime office space in Gurugram from Bharti Real Estate to expand its business amid rising demand for managed flexible workspaces from corporates.

Gurugram-based Incuspaze provides managed office space to corporates.

Established in 2016, Incuspaze has centres at 50 locations across 18 cities with a total portfolio of 40 lakh square feet area.

Incuspaze said it has leased 1,00,000 square feet of office space in a commercial project, HQ27, developed by Bharti Real Estate.

It will offer 1500+ seats in this upcoming centre, which is likely to be operational by March next year.

Sanjay Chatrath, Co-founder & Managing Director, Incuspaze said, "Gurugram's strategic location, proximity to Delhi, and excellent connectivity make it a key driver of India's commercial real estate boom. The city offers the perfect blend of a thriving business environment, and a pleasant business atmosphere, which are essential for fostering productivity and work-life balance."

Incuspaze will offer global businesses a workspace that combines convenience, accessibility, and a modern, sustainable environment that supports both employees and enterprises, he added.

Real estate consultant JLL India facilitated this leasing deal. In this year, Incuspaze said it has added 20 lakh square feet of office space in Noida, Mumbai Jaipur, Pune, Chennai, Ahemdabad, Bengaluru, and Gurugram.

"We plan to add another 2 million (20 lakh) square feet in our portfolio by the end of December 2025," Incuspaze founder and CEO Sanjay Choudhary told PTI recently.

Choudhary said the company is looking to raise USD 25 million (over Rs 210 crore) to expand its business across major cities before planning to launch its Initial Public Offer (IPO).

Earlier this year, Incuspaze raised USD 8 million from the India Inflection Opportunity Fund and other financial Institutions. Choudhary said the demand for premium office space remains strong, especially from multinational companies looking to set up Global Capability Centres (GCCs) in India.

Incuspaze caters to enterprises, MSMEs and startups by providing hassle- free managed office, co-working and traditional workspace solutions.

According to real estate consultant Vestian, flexible office space operators had a portfolio of 67 million square feet of prime office space till June this year and the number is set to cross 100 million square feet by 2026-end.

The flexible office market has witnessed a demand shift post-pandemic from startups and SMEs to large conglomerates owing to flexibility and cost advantages, Vestian added.
Source: PTI
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