Your Weekly Dose of News from the Commercial Real Estate Industry
Awfis Expands to GIFT City, Strengthens Ahmedabad Presence
Awfis Space Solutions Limited , a prominent provider of flexible workspaces, has unveiled a new coworking centre in Gujarat International Finance Tec-City (GIFT City), Gandhinagar. This new addition, Covering over 30,000 square feet, increases Awfis' presence in Ahmedabad to nearly 83,500 square feet.
This strategic move aligns with Awfis' broader goal to meet the growing demand for scalable and adaptable workspace solutions in India's key financial and tech hubs. The company is set to expand by adding 40,000 new seats nationwide, bringing its total to 1,35,000 seats by the fiscal year's end.
With a presence in 17 cities and over 175 centres, Awfis is solidifying its role as a major player in India's coworking industry.
Table Space Expands Footprint in Bengaluru with Major Acquisition
Table Space , a leading flexible workspace provider, has expanded its portfolio by acquiring 5 lakh square feet of office space in Bengaluru's Whitefield for around Rs 500 crore. This marks the second Table Space-owned asset, further strengthening the brand's presence in India's growing flexible workspace market.
Bengaluru contributes nearly 46% of Table Space's total revenue, so this strategic acquisition positions the city as the company's most vital growth hub. The demand for flexible workspaces continues to rise as companies adopt hybrid work models and opt for flexible solutions to reduce operational costs and streamline office management.
Founded in 2017, Table Space has developed over 9.5 million square feet of custom workspaces across 7 Indian cities, reinforcing its leadership in the enterprise-managed workspace sector.
54% Surge in Large Office Space Transactions Marks Booming Indian Market
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According to Knight Frank India , India's commercial real estate sector is witnessing a significant boost, with large office space transactions growing by 54% year-on-year in the first half of 2024. This surge highlights the increasing demand for spaces exceeding 100,000 sq ft across major cities like Bengaluru, Mumbai, NCR, and Hyderabad.
Bengaluru led the charge, transacting 4.5 million sq ft in large office spaces—a 32% rise compared to H1 2023. The mid-segment market also saw a remarkable 70% growth, driven by companies expanding Global Capability Centres (GCCs) to strengthen their Indian presence.
The growing adoption of flexible workspaces and corporate expansion continues to fuel this upward trend, underscoring the long-term potential of India's office leasing market.
Most In-Demand Locations This Week-
Metro City : Mumbai
Micro-market : Goregaon
Non-Metro City : Chandigarh
Micro-market : IT Park
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