Incuspaze Leases Over 3 L sq ft in Bengaluru's QUBE Software Park & 4 L Sqft in Alphathum building in Sector 90, Noida Expressway

Targets 1 Million sq ft in 12 Months, Expands with Major Deals in Noida and Mumbai

New Delhi, India – Incuspaze, the flexible workspace provider, has taken a significant step in expanding its presence by leasing 325,000 sq ft of office space at QUBE Software Park in Bengaluru. This move follows a prior lease of 156,000 sq ft in Whitefield, showcasing the company’s aggressive growth strategy. With plans to acquire one million sq ft of office space in Bengaluru over the next 12 months, Incuspaze is reinforcing its position in the city’s thriving IT corridor.

Strategic Expansion in Bengaluru

According to Sanjay Chatrath, managing partner at Incuspaze, the decision to focus on Bengaluru was driven by the availability of large land parcels, proximity to a robust IT talent pool, and well-established residential hubs. The Outer Ring Road continues to be a prime location for IT growth, making it an attractive area for workspace expansion. Bengaluru accounted for 20.4% of the overall gross leasing in Q1 2024, highlighting its strong demand for flexible office spaces.

Growing Demand for Flexible Workspaces

The surge in demand for flexible workspaces is being fueled by Bengaluru’s booming IT sector, a strong talent pool, and the need for scalable, cost-effective office space. With plans to add 2 million sq ft of office space across Bengaluru and other key South Indian cities within the next 12 months, Incuspaze is capitalizing on this growing market trend.

Presence Across Major Indian Cities

Incuspaze currently operates in 44 locations across 18 cities, with a total portfolio of 3.5 million sq ft. The company recently leased 400,000 sq ft from Bhutani Infra in Noida, marking one of the largest office space transactions in the NCR region. This space is located in the Alphathum building in Sector 90, Noida Expressway, reinforcing the company’s foothold in Delhi-NCR.

Nationwide Expansion and Future Plans

In addition to its Bengaluru and Noida expansions, Incuspaze recently leased 57,351 sq ft in Mumbai’s Hiranandani Light Hall Business Park and 580,000 sq ft in Delhi-NCR. Flex spaces saw record leasing activity of 2.6 million sq ft across the top six cities in Q2 2024 (April-June), with Bengaluru and Delhi-NCR accounting for 65% of this activity, signaling rising demand in these markets.