Smartworks Leases 450,000 sq ft Office Space in Hyderabad

Smartworks has leased 450,000 square feet office space in Hyderabad, in one of the largest commercial real estate leasing deals in the country. The office space, located in K Raheja Corp’s Mindspace IT park, has a lock-in period of five years, with the lease spread over 10 years. Smartworks has been lapping up office spaces across the country, with demand from enterprises driving the growth. The firm has added more than a million sq ft in 2021, with plans to double it in 2022. The new centre in Hyderabad that’s coming up at the K Raheja property can seat more than 4,000 people. The transaction was facilitated by Cushman and Wakefield, which refused to comment on the deal. Earlier this year, in the single largest flexible office space lease deal in the country, Smartworks leased 560,000 sq ft space in Pune’s Baner locality. Smartworks is one of India’s largest providers of flexible workspaces, with a footprint of about 5 million square feet across 32 locations in nine cities, including Delhi-National Capital Region, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai and Pune. It caters to more than 400 organisations across Fortune 500 companies.