IndiQube Secures Massive 320,000 Sq Ft Lease Expansion in Bengaluru CBD as Flexible Workspace Market Booms

Flexible workspace provider IndiQube Spaces has announced the successful leasing of approximately 320,000 square feet across three towers located in Bengaluru's Central Business District, marking a significant strategic expansion in India's largest flexible workspace market.

Strategic Lease Secured with 15-Year Agreement

The company revealed that the newly acquired space, which will be branded as IndiQube Symphony, forms part of an ambitious renovate-and-upgrade project that has been secured through a comprehensive 15-year lease agreement. Industry sources indicated that this development represents a crucial component of IndiQube's broader growth strategy.

IPO Funding Powers Aggressive Expansion Plans

The workspace expansion is being funded through a substantial ₹650 crore capital raise from the company's Initial Public Offering (IPO), with ₹462.6 crore specifically earmarked for capital expenditure towards establishing new centers. This significant investment underscores the company's commitment to capturing a larger share of India's rapidly growing flexible workspace market.

Ambitious Growth Targets Set for Next Three Years

With the fresh fundraise, IndiQube has set ambitious targets to add 3 million square feet of flexible workspace stock over the next three years. This expansion would bring the company's total area under management (AUM) to 11.47 million square feet by FY28, positioning it as a major player in the sector alongside competitors like Awfis and other flexible workspace companies.

Bengaluru to Drive Majority of Future Growth

According to industry sources, Bengaluru is expected to account for a significant portion of this growth trajectory, with approximately 1.79 million square feet of new workspace stock planned for the period. This focus on Bengaluru aligns with the city's status as India's leading office space market and its continued dominance in the technology and startup ecosystem.

The flexible workspace sector in India has been experiencing unprecedented growth, with companies increasingly opting for flexible lease arrangements and modern workspace solutions. This trend has been further accelerated by changing work patterns and the need for agile business operations.