IBM, a major player in US technology, has leased 61,000 sq. ft. of managed workspace with Incuspaze at Green Boulevard in Noida, as reported by sources close to the matter. Previously, IBM had occupied 260,000 sq. ft. at TRIL Tower in Gurgaon, developed by Tata Realty.
The demand for Grade A office space has been largely driven by tech companies returning to office settings. However, various other factors are anticipated to sustain this trend. Industry experts highlight that new Global Capability Centers (GCCs), the growth of flexible workspace providers, the increase in unicorn startups, and the ongoing expansion of big tech companies will significantly contribute to the demand for office spaces.
The new office spans two floors, accommodating over 800 seats, specifically designed to cater to the evolving requirements of enterprise clients. Situated on 5 acres, Green Boulevard hosts prominent global enterprises like Nokia, Accenture, Tata Consulting Engineers, and Lumen Technologies, making it one of the most prestigious business locations in the NCR region.
This deal underscores the escalating demand for flexible and enterprise-grade workspace solutions among multinational corporations in India. As the country’s flexible space market is projected to reach USD 2.08 billion by 2025, large enterprises are increasingly pivoting towards agile, service-oriented models rather than conventional leases, enhancing business growth and improving employee experiences.
Incuspaze operates across 18+ cities in India, boasting a portfolio exceeding 4 million sq. ft. In FY25, the company added 1.7 million sq. ft. across Delhi NCR, Bengaluru, and Pune, with recent acquisitions in Jaipur’s emerging micro-markets. Propelled by this growth, Incuspaze anticipates closing FY26 with revenues between Rs 350–400 crore, paving the way for a potential IPO.
