- Flex operators capture nearly 20% of office leasing activity, with GLV touching a record 8.4 MSF in H1 2026
- GCCs contributed 44% of total flex seat leasing, reaffirming their role as the primary demand driver
- Bengaluru remained the largest flex market with 30% share of total seat uptake, followed by Hyderabad and Mumbai
India's flexible workspace sector continued its robust growth trajectory in the first half of 2026. According to Cushman & Wakefield's latest data, flexible workspace operators leased 191,306 seats across the top eight cities in H1 2026, marking a 68.4 % year-on-year (YoY) growth. The increase reflects occupiers' continued preference for flexible workspace solutions that offer operational agility, scalability and speed to market.
Flexible workspace operators continued to strengthen their presence in India's office market, recording 8.4 MSF of gross leasing volume (GLV) in H1 2026, the highest-ever half-yearly volume for the segment and a 55% increase from 5.4 MSF in H1 2025. Flex operators accounted for nearly one-fifth (20%) of the overall office leasing activity of approximately 43 MSF recorded during the period, up from 13% in H1 2025, driven by sustained demand from enterprises, GCCs and occupiers seeking greater workplace flexibility.
*GLV, factors in all leasing activity in the market, including fresh take-up, open market renewals by occupiers as well as pre-leasing, and is an indication of overall market activity.
Global Capability Centres (GCCs) continued to be a key demand driver for the flex workspace segment, accounting for 44% of the total flex seat leased in H1 2026, surpassing 37% share recorded during the full year 2025. The rising share of GCCs in flex leasing underscores the segment's growing relevance within India's occupier landscape, with global firms increasingly integrating flexible workspace solutions into their broader real estate and expansion strategies.
At the city level, Bengaluru retained its position as the largest flex market in India, with 57,487 seats leased during H1 2026, accounting for 30% of the total seat uptake and registering a 31.8% YoY growth. Hyderabad followed with 40,451 seats, recording a robust 170.8% annual growth, emerging as one of the strongest growth markets during the period, supported by sustained demand from technology occupiers and GCCs.
Mumbai and Delhi NCR also witnessed substantial growth, with leasing volumes rising by 130% and 152.7%, respectively. Pune maintained healthy growth with a 27.8% increase in seat uptake, while Chennai saw growth of 3.6% YoY. Ahmedabad recorded the sharpest increase in flex seat leasing, rising 570.3% YoY on a relatively smaller base. Kolkata also posted strong growth, with seat uptake increasing by 48.0% over the previous year.
|
City |
Flex seats leased in H1 2025 |
Flex seats leased in H1 2026 |
YoY % change |
|
Ahmedabad |
735 |
4,927 |
570.3% |
|
Bengaluru |
43,616 |
57,487 |
31.8% |
|
Chennai |
15,731 |
16,297 |
3.6% |
|
Delhi NCR |
8,693 |
21,970 |
152.7% |
|
Hyderabad |
14,936 |
40,451 |
170.8% |
|
Kolkata |
2,334 |
3,454 |
48.0% |
|
Mumbai |
11,226 |
25,820 |
130.0% |
|
Pune |
16,352 |
20,900 |
27.8% |
|
Total |
113,623 |
191,306 |
68.4% |
Ramita Arora, Executive Managing Director, Bengaluru & Head - Flex, India, Cushman & Wakefield, said, “Flexible workspaces have firmly established themselves as a core element of corporate real estate strategies, with flex operators now accounting for nearly 20% of the ~43 MSF of the total office leasing recorded during H1 2026. As enterprises seek greater agility and efficiency, flex and managed office solutions are becoming an integral part of long-term workplace planning. GCCs continue to be a significant demand driver, leveraging these solutions to support expansion and evolving workforce requirements. Occupiers today are looking for highly customized, experience-led workplaces, and flex operators are increasingly delivering bespoke environments that mirror global office standards, brand identity and workplace culture. Coupled with technology-enabled workplace experiences, wellness-centric design and sustainability considerations, these tailored solutions are reinforcing the segment's appeal among both enterprises and GCCs. At the same time, the growing presence of listed operators is enhancing transparency, governance standards and occupier confidence, supporting the continued maturation of India's flex workspace market. ”
