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Smartworks Coworking Spaces has leased over 815,000 sq ft of office space in Mumbai’s eastern suburb of Vikhroli West, in a commercial complex developed by the Niranjan Hiranandani Group’s Regalia Office Parks, marking one of the largest flexible workspace campus transactions.The lease, covering a total of 17 floors, has a tenure of 74 months, with rentals set at Rs 121.55 per sq ft, taking the monthly outgo to over Rs 9.91 crore.Located on LBS Marg, one of Mumbai’s busiest business corridors, the campus in the commercial complex Eastbridge is scheduled to become operational in the fourth quarter of 2026.“With this new centre set to become the largest managed campus globally, we continue to break our own records and set new benchmarks in the managed workspace segment. We continue to focus on creating spaces that provide enterprises with scale and sustainability,” said Neetish Sarda, MD, Smartworks.This is the second large office space picked up by Smartworks in the last two months. It leased over 557,000 sq ft at Tata Realty’s Intellion Park, Navi Mumbai, in September.Live Events“Eastbridge is developed on a land parcel of over 2 acres, with a total development of around 0.9 million sq ft. Smartworks has signed an agreement to lease the entire office space from the 2nd to the 18th floor in the building,” said Niranjan Hiranandani, Founder, Hiranandani Group.Smartworks has a total footprint of about 12 million sq ft across 14 cities in India and Singapore, with more than 730 clients. Its portfolio includes six campuses of over 500,000 sq ft each, including the 700,000 sq ft facility at Vaishnavi Tech Park in Bengaluru.The demand for flexible and managed workspaces in India has been gaining strong momentum, driven by large enterprises adopting agile models to optimise real estate costs and enhance employee experience. Hybrid work practices, coupled with the need for scalable and tech-enabled offices, have fuelled the rapid expansion of operators across key business hubs.With corporate occupiers increasingly preferring plug-and-play solutions over conventional leases, managed office platforms are expected to continue expanding their footprint across major cities and emerging commercial corridors.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onsmartworks coworking spacessmartworkscoworking spacesoffice lease mumbaihiranandani groupregalia office parksflexible workspacevikhroli office spacecommercial real estate indiamanaged offices (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onsmartworks coworking spacessmartworkscoworking spacesoffice lease mumbaihiranandani groupregalia office parksflexible workspacevikhroli office spacecommercial real estate indiamanaged offices(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
