Incuspaze, a flexible workspace provider, has announced a significant expansion in North India by leasing around 4 lakh square feet of office space in Bhutani Group’s Alphathum, situated in Sector 90, Noida Expressway.
This strategic move strengthens Incuspaze’s foothold in North India, following a recent lease of 5.8 lakh square feet in Gurugram, including key locations like Golf Course Extension Road and Udyog Vihar. These expansions highlight Incuspaze’s commitment to addressing the growing demand for flexible office solutions in the National Capital Region (NCR).
Developed by Bhutani Infra, Alphathum is a commercial building complex offering excellent connectivity and modern amenities, such as conference rooms, meeting spaces, breakout areas, dedicated parking, and a spacious cafeteria. These features make it an attractive option for companies seeking flexible and well-equipped office spaces.
Recent data shows a robust increase in the demand for flexible workspaces, with 2.6 million square feet leased across the top six Indian cities in Q2 2024. Bengaluru and Delhi-NCR accounted for 65% of this leasing activity, reflecting the rising popularity of flexible office solutions. In the first half of 2024, flex space operators leased approximately 4.4 million square feet, demonstrating a strong and sustained demand.
Sanjay Chatrath, Managing Partner at Incuspaze, expressed enthusiasm about the expansion, stating, “We are thrilled to announce our latest expansion with a substantial lease of 4 lakh square feet at Alphathum, Noida, in partnership with the Bhutani Group. Our recent expansions, including significant leases in Gurgaon, Bangalore, Mumbai, Pune, Jaipur and Lucknow, highlight our dedication to meeting the rising demand for flexible workspaces across the nation.”
Ashish Bhutani, CEO of Bhutani Group, welcomed the partnership, saying, “It is our constant endeavour to offer state-of-the-art office spaces to meet the evolving demands of modern businesses. We are confident that it (Alphtathum) will greatly support Incuspaze in delivering exceptional service to its clients and driving their growth in the region.””
The lease transaction was facilitated by Colliers India.
Established in 2016 by UK-based entrepreneur Sanjay Choudhary, Incuspaze has rapidly grown to become a leading workspace provider in India, with 44 locations across 18 cities and a portfolio totaling 3.5 million square feet. The company aims to revolutionize workspaces by offering flexible, efficient, and inspiring solutions tailored to the needs of businesses. Through its hub and spoke model, Incuspaze enables companies to set up satellite offices based on their employees’ locations, ensuring maximum convenience and adaptability.