India’s flexible office stock projected to reach 160 million sq ft by 2030
Real Estate

India’s flexible office stock projected to reach 160 million sq ft by 2030

India retained its position as the world's most mature flexible office market, scoring 100 per cent on Cushman & Wakefield's Flexible Office Market Maturity Index, according to the firm's Global Trends in Flexible Office 2026 report.

India's flexible office inventory reached 88.7 million sq ft (MSF) in H1 2026, accounting for 10.5 per cent of the country's total office stock. The report projects this to exceed 100 MSF in 2026 and reach approximately 160 MSF by 2030.

Flexible office operators leased 8.5 MSF across India's top eight cities in H1 2026, their strongest first-half performance to date. Flexible workspaces accounted for around 20 per cent of overall office leasing during the period.

Between 2023 and 2025, operators leased 44.1 MSF, representing more than 720,000 seats. Demand for managed offices averaged 350 to 500 seats per requirement. The number of flex seats demanded annually is estimated to have increased from around 38,000 in 2020 to 300,000 in 2026, nearly seven-fold growth.

The trend is also gaining ground beyond the major office markets. Flexible office operators accounted for 35 per cent of overall office leasing in Pune, 33 per cent in Ahmedabad and 26 per cent in Hyderabad during H1 2026. Tier-II cities are emerging as potential growth markets, alongside the international expansion of Indian operators.

The report also cited an Upflex analysis of nearly 23,000 on-demand bookings, which found that India's share of global bookings rose from 2.2 per cent in H1 2025 to 10.2 per cent in H1 2026, making it the second-most active market after the US.

Changing operator strategies and occupier demand

Flexible office operators are expanding beyond conventional coworking into managed offices, fit-out solutions and integrated workplace services. The report noted a growing focus on premium assets and the upgrading of older office stock.

Global capability centres (GCCs) and multinational companies are increasingly using flexible offices to establish and expand their presence in different markets. The report also identified AI-led businesses as an emerging source of demand, given their need for scalable, plug-and-play workplaces.

Indian operators are also exploring international markets. Smartworks has expanded into Singapore, while Table Space is planning an entry into the Philippines through a strategic stake in KMC Solutions. Meanwhile, international operators such as JustCo and providers from the Middle East are expanding their presence in India.

Institutional capital is supporting the sector's expansion and consolidation. According to the report, four flexible office operators are publicly listed, with another initial public offering (IPO) in the pipeline.

Ramita Arora, Executive Managing Director, Bengaluru, and Head, Flex, India, Cushman & Wakefield, said flexible offices had become an integral part of occupiers' real estate strategies, supporting businesses from market entry to team expansion and longer-term portfolio requirements. She added that institutional participation, improving product quality and emerging demand from AI-led businesses were strengthening the sector's growth prospects.

Cushman & Wakefield's Flexible Office Market Maturity Index evaluates markets on parameters including market size, leasing activity, operator presence, workplace formats, landlord participation, operating models, managed space adoption, market transparency and tenant demand.

India retained its position as the world's most mature flexible office market, scoring 100 per cent on Cushman & Wakefield's Flexible Office Market Maturity Index, according to the firm's Global Trends in Flexible Office 2026 report.India's flexible office inventory reached 88.7 million sq ft (MSF) in H1 2026, accounting for 10.5 per cent of the country's total office stock. The report projects this to exceed 100 MSF in 2026 and reach approximately 160 MSF by 2030.Flexible office operators leased 8.5 MSF across India's top eight cities in H1 2026, their strongest first-half performance to date. Flexible workspaces accounted for around 20 per cent of overall office leasing during the period.Between 2023 and 2025, operators leased 44.1 MSF, representing more than 720,000 seats. Demand for managed offices averaged 350 to 500 seats per requirement. The number of flex seats demanded annually is estimated to have increased from around 38,000 in 2020 to 300,000 in 2026, nearly seven-fold growth.The trend is also gaining ground beyond the major office markets. Flexible office operators accounted for 35 per cent of overall office leasing in Pune, 33 per cent in Ahmedabad and 26 per cent in Hyderabad during H1 2026. Tier-II cities are emerging as potential growth markets, alongside the international expansion of Indian operators.The report also cited an Upflex analysis of nearly 23,000 on-demand bookings, which found that India's share of global bookings rose from 2.2 per cent in H1 2025 to 10.2 per cent in H1 2026, making it the second-most active market after the US.Changing operator strategies and occupier demandFlexible office operators are expanding beyond conventional coworking into managed offices, fit-out solutions and integrated workplace services. The report noted a growing focus on premium assets and the upgrading of older office stock.Global capability centres (GCCs) and multinational companies are increasingly using flexible offices to establish and expand their presence in different markets. The report also identified AI-led businesses as an emerging source of demand, given their need for scalable, plug-and-play workplaces.Indian operators are also exploring international markets. Smartworks has expanded into Singapore, while Table Space is planning an entry into the Philippines through a strategic stake in KMC Solutions. Meanwhile, international operators such as JustCo and providers from the Middle East are expanding their presence in India.Institutional capital is supporting the sector's expansion and consolidation. According to the report, four flexible office operators are publicly listed, with another initial public offering (IPO) in the pipeline.Ramita Arora, Executive Managing Director, Bengaluru, and Head, Flex, India, Cushman & Wakefield, said flexible offices had become an integral part of occupiers' real estate strategies, supporting businesses from market entry to team expansion and longer-term portfolio requirements. She added that institutional participation, improving product quality and emerging demand from AI-led businesses were strengthening the sector's growth prospects.Cushman & Wakefield's Flexible Office Market Maturity Index evaluates markets on parameters including market size, leasing activity, operator presence, workplace formats, landlord participation, operating models, managed space adoption, market transparency and tenant demand.

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