Concorde has leased one lakh forty thousand square feet to BHIVE in Bengaluru in a transaction that totals Rs 2.4 bn. The leased area is stated as 0.14 million square feet. The transaction places both parties prominently in the city office market.

The landlord Concorde structured the agreement to house a large flexible workspace operation while BHIVE will consolidate its presence in the tech hub. The arrangement follows a trend of corporate tenants and operators securing sizable city centre assets. The deal reflects demand for adaptable offices in Bengaluru, where businesses continue to prefer located campuses with modern amenities.

Industry participants assess that transactions of this size contribute to overall leasing volumes in major urban markets and strengthen investor interest in commercial assets. The sum involved, stated as Rs two point four bn, carries weight for asset owners and underlines the commercial appeal of Bengaluru. The conversion to bn and mn units clarifies scale and will be used in reporting.

The lease will support operations and client expansion for the coworking operator while adding a lease anchor for the developer. The transaction adds to a series of large format deals that underpin the office ecosystem in the city. Market participants will follow how similar lettings influence rental values and space utilisation across corporate and flexible office segments.

The transaction is part of a broader cycle of capital allocation to commercial real estate in the city, reflecting demand from technology, professional services and flexible workspace providers. Such large scale leases provide income visibility for owners and operating scale for occupiers as they plan medium term growth.