Corporate leasing of flexible workspace increases by 59% in June quarter

25 Jul 2022 , 08:28 AM

According to Cushman & Wakefield, corporate leasing of flexible workspace increased by 59% in April-June to 28,167 desks across the top eight cities as companies embrace managed office space in the face of uncertainty.

In the April to June quarter of 2016, businesses rented 17,691 seats in coworking spaces in eight major cities: Delhi-NCR, Mumbai, Pune, Bengaluru, Hyderabad, Chennai, Kolkata, and Ahmedabad.

“Many organizations, especially the major multinationals, have adopted the managed space idea leading to enterprise flex seat deals standing at 28,167 seats sold in Q2-22,” real estate consultant Cushman & Wakefield stated in its most recent report on India’s office market.

The three cities that are leading enterprise deals in flexible seats are Bengaluru, Pune, and Hyderabad, which have accounted for over 75% of all deals since the beginning of 2021.