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India has ranked first globally in Cushman & Wakefield's Global Trends in Flexible Office 2025 report, scoring a perfect 100 on the maturity index for co-working and flexible offices. This places it ahead of the UK (98), France (97), the US (81), and Singapore and Japan (77). India's flexible office stock stands at 79.7 million sq ft across major cities, expected to surpass 100 million sq ft by 2026, making it Asia-Pacific's largest market. Experts note that corporates and global capability centres are driving demand for scalable, cost-efficient solutions. With more operators going public and consolidation expected, India's flex sector is set for sustained, transparent growth.
India has secured the top position globally in the maturity index for co-working and flexible office markets, as reported by real estate consultancy Cushman & Wakefield in its study, Global Trends in Flexible Office 2025. The report stated that while some established office markets still lack a significant share of flexible spaces, certain emerging economies, particularly India, have developed a robust ecosystem of operators and products. Advertisement
The consultancy explained that India achieved a perfect score of 100, placing it ahead of the United Kingdom at 98 per cent, France at 97 per cent, the United States at 81 per cent, and Japan and Singapore at 77 per cent. The maturity index was calculated through a detailed evaluation of several parameters, including flexible space as a share of overall office stock, the presence of operators, leasing activity, and the development of innovative agreement structures.
As of the middle of this year, India's flexible office stock stood at 79.7 million sq ft across the eight major cities. The portfolio is projected to expand to 85 million sq ft by the end of the year and cross 100 million sq ft by 2026, establishing the country as Asia-Pacific's largest market.
Commenting on the findings, Ramita Arora, Managing Director Bengaluru and Head - Flex, India, at Cushman & Wakefield, observed that India's flex sector is widely recognised as a global leader, with its diversity of operators and agility in adapting to demand setting it apart from Western counterparts. Industry voices echoed this sentiment. Neetish Sarda, Founder and Managing Director of Smartworks, noted that commercial office stock in India is expanding rapidly, with flexible workspaces becoming integral to enterprise strategy. He emphasised that the adoption of Core + Flex models reflects the growing focus on capital efficiency and workplace agility.
Shesh Rao Paplikar, Founder and CEO of BHIVE Workspace, remarked that the demand is being driven by both large corporates and mid-sized global capability centres, who prefer scalable and efficient solutions. Manas Mehrotra, Founder of 315Work Avenue, pointed out that co-working centres are increasingly reshaping the commercial property landscape, with multinational firms continuing to flock to such facilities.
Aashit Verma, Founder of Hanto Workspace, linked the sector's growth to India's strong economic fundamentals, which encourage both local and global firms to adopt cost-optimised real estate strategies. James Thomas, Founder of SpazeOne, added that the projected inventory growth beyond 100 million sq ft by 2026 signals that companies of all sizes are prioritising agility and collaboration.
The Cushman & Wakefield report also revealed that four operators have already gone public, with more listings expected in the near future. This, according to the firm, highlights greater transparency, improved governance, and stronger investor confidence. It further predicted that the coming three to five years would bring consolidation, with larger players consolidating their position while niche operators continue catering to specialised demands.
With office stock projected to exceed 100 million sq ft by 2026 and growing investor interest through IPOs, the market is poised for sustained growth. Analysts suggest that consolidation will shape the future, while regional and specialised players continue to thrive alongside the leading operators.
Source - PTI
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