In one of Hyderabad’s largest recent office-space transactions, WeWork India has leased 1.75 lakh sq ft at Skyview 20, a Grade-A tech park, on a five-year term at a starting monthly rent of Rs 172 million. The flexible workspace operator has sub-leased the entire two-floor area to JP Morgan Services India Pvt Ltd for 60 months at a starting monthly rent of Rs 438 million, according to documents accessed by CRE Matrix.

The agreements—first between Mahanga Commercial Properties and WeWork, and then between WeWork and JP Morgan—were registered in November 2025. In the primary lease registered on 7 November, WeWork agreed to a starting rent of Rs 98 per sq ft and paid a security deposit of Rs 103 million for the 1.75 lakh sq ft premises.

Six days later, on 13 November, WeWork signed a General Service Agreement with JP Morgan, sub-leasing 1.76 lakh sq ft at Rs 249 per sq ft. The significant rent spread reflects the premium attached to WeWork’s fit-outs, amenities and custom workspace design, alongside rising demand for fully managed offices from large corporates.

JP Morgan has taken 1,501 desks across the fifth and sixth floors, along with 176 car parks, and has paid a security deposit of Rs 259 million.

Skyview 20, located on Hitech City Main Road, is part of the larger Skyview campus in Hyderabad’s premier technology corridor. The development has attracted strong leasing from global financial and technology firms owing to its proximity to major corporate hubs, metro access and preference for high-density office environments.

Earlier this year, JP Morgan pre-leased 1.16 lakh sq ft in a Bandra Kurla Complex tower developed by Goisu Realty Private Limited, a subsidiary of Japan’s Sumitomo Realty & Development Company, for a monthly rent of Rs 691 million on a 10-year lease, documents accessed by Propstack showed.

India now leads the Asia-Pacific flexible workspace market with 79.7 million sq ft across the top eight cities as of Q2 2025. The total is expected to reach 85 million sq ft by year-end and exceed 100 million sq ft in 2026, according to Cushman & Wakefield. Bengaluru tops the list with 21.1 million sq ft, followed by Delhi-NCR, Pune and Hyderabad.