Smartworks Coworking Spaces Ltd has leased 1.82 lakh square feet of office space in Andheri East, Mumbai, to set up a new co-working and managed office centre. The transaction strengthens the company’s footprint in Mumbai’s commercial real estate market, where demand for flexible workspaces remains strong. This deal follows a broader trend where commercial real estate has seen $144B in investment, with India gaining a significant global spotlight.
The space is located in The Square, a commercial project developed by Lloyds Realty Developers Ltd. Smartworks will convert the property into a fully managed, enterprise-focused co-working campus. The centre will cater to corporates, multinational companies, and large enterprises looking for scalable and ready-to-move office solutions. This move mirrors the expansion strategies of other global tech giants, such as Apple’s recent footprint boost in Hyderabad, highlighting the continued enterprise appetite for Grade A office spaces.
With this lease, Smartworks’ total managed office portfolio in Mumbai has crossed 2 million square feet. The expansion reflects sustained demand for flexible office space in key business hubs such as Mumbai. The city continues to attract companies from banking, financial services, IT, consulting, and other major sectors, including new high-profile developments like Labdhi Lifestyle’s BKC Edge.
Smartworks operates on a long-term leasing model. The company acquires large office spaces, upgrades them with modern infrastructure, and sub-leases them as managed workspaces. Its offerings include customised office layouts, technology integration, facility management, and operational support. The model allows businesses to expand without heavy capital investment or long-term ownership commitments.
India’s commercial real estate sector has seen steady growth in the managed office and co-working segment. Many enterprises are shifting towards flexible workspace solutions to reduce costs and improve operational efficiency. Large leasing deals such as this highlight the continued momentum in the office leasing market. For businesses looking to understand the technicalities of these large-scale spaces, understanding the difference between Carpet Area and Super Built-up Area remains crucial for office strategy.
Smartworks currently manages more than 15 million square feet of office space across multiple cities in India and Singapore. The company continues to expand in major metropolitan markets to meet enterprise demand for professionally managed office environments.
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