New Launch18 Dec 2025, 05:47 pm
Smartworks, UnearthIQ Report Predicts India's Flex Space Market to Reach $9-10 billion by 2028, Fueled by GCC Growth
AI Summary
Smartworks Coworking Spaces Limited, in a joint report with UnearthIQ, has predicted that India's flex space industry is set to surge to $9-10 billion by 2028. The report, titled 'India’s Next Commercial Real Estate Wave: The Rise of Flex Spaces Fueled by GCC Growth,' highlights the rapid expansion of Global Capability Centers (GCCs) as a key driver of this growth. GCCs are expected to require 160-200 million sq. ft. of office space by 2030, with flex workspaces capturing 65-80 million sq. ft. of this demand. The report also emphasizes the shift towards asset-light, Opex-led models and the growing mid-tier IT demand for agile, scalable workspaces.
Key Highlights
- Smartworks and UnearthIQ release a joint report predicting India's flex space market to reach $9-10 billion by 2028.
- GCCs are expected to drive 200 million sq. ft. of office demand by 2030, with flex spaces capturing nearly half.
- The report highlights the shift towards asset-light, Opex-led models and the growing mid-tier IT demand for agile, scalable workspaces.
- India's 1,850+ GCCs employ nearly 2.2 million professionals and are expanding rapidly, adding 80,000-120,000 seats annually.
- Flex space operators are evolving into end-to-end GCC-as-a-Service partners, offering a unified stack of solutions.