Smartworks has taken on a lease of 0.18 million (mn) square feet of managed office space in Andheri, a major western suburb of Mumbai, marking a notable expansion of its footprint in the city. The leased area equates to one hundred and eighty thousand square feet and will be operated as flexible, managed workspace serving a range of corporate clients. The company said the move aims to enhance access to quality plug and play offices for firms seeking rapid occupancy and flexible terms.

Andheri’s transport links, proximity to the airport and established commercial infrastructure make it attractive to occupiers across sectors, and landlords have been repositioning assets to cater to demand for managed solutions. Industry observers have noted that suburban nodes are gaining favour as firms balance cost, commuting times and talent availability. The lease is likely to contribute to further momentum in conversion of traditional office assets into managed or flexible formats.

The broader flexible workspace market has been supported by hybrid working models and a resurgence of business travel, prompting operators to expand selectively in gateway cities such as Mumbai. Firms have preferred plug and play options to reduce upfront capital expenditure and to scale operations with minimal lead time, and managed offices offer operational support and shared amenities that underpin productivity. Investors and owners are responding by offering customised fit outs and service level agreements to meet corporate expectations.

The Smartworks transaction will enhance the operator's capacity to serve small and medium enterprises as well as larger corporate accounts that require satellite offices or decentralised teams. Market participants expect that such leases will help stabilise occupational demand in peripheral commercial districts and support a broader recovery in office utilisation. The expansion underscores a strategic emphasis on flexible delivery models as companies recalibrate their real estate portfolios for post-pandemic working patterns.