India is currently the world’s fastest-growing office market. This is fueling the rise of the flexible workspace (coworking sector), which is the fastest-growing segment in commercial real estate . Numbers also demonstrate the same. The market share of the managed workplace model reached 30% in FY24, up from just 8% in FY18. Global capability centers, hybrid work models, and outsourcing fuel demand from large enterprises.

Also, flexible workspaces now account for about 20% of total office demand in India. Per Smartworks ‘ annual report, the sector grew at a compound annual growth rate (CAGR) of about 24% from 2020 to 2024. This momentum is projected to continue , and the total stock of flexible workspaces in Tier 1 cities is projected to grow at a CAGR of 18-20% from 2024 to 2027.

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