Curation Team
US technology major IBM leased 61,000 sq. ft. of managed workspace with Incuspaze, at Green Boulevard, Noida, people aware of the development said.
Earlier, IBM had leased 260,000 sq ft of office space at Gurgaon’s TRIL Tower, developed by Tata Realty.
Absorption of Grade A office space was hitherto led by the return-to-office routine for major technology companies, but several other demand drivers are expected to help sustain the momentum.
The emergence of new Global Capability Centers (GCCs), expanding presence of flexible workspace operators, the rise in unicorn startups, and ongoing growth of the Big Tech will continue to fuel office-space demand, industry experts said.
Spread across two floors, the new office can accommodate over 800 seats and has been designed to meet the evolving needs of enterprise occupiers.
Spanning 5 acres, Green Boulevard is home to leading global enterprises including Nokia, Accenture, Tata Consulting Engineers, and Lumen Technologies, establishing it as one of the most prestigious and sought-after business destinations in the NCR region.
This transaction highlights the rising demand for flexible and enterprise-grade workspace solutions among multinational corporations in India. With the country’s flex space market projected to reach USD 2.08 billion by 2025, large enterprises are increasingly shifting from traditional leases to agile, service-driven models that support business growth and employee experience.
Incuspaze has a pan-India presence across 18+ cities with a portfolio of over 4 million sq. ft. In FY25 alone, the company added 1.7 million sq. ft. across Delhi NCR, Bengaluru, and Pune, along with recent acquisitions in Jaipur’s emerging micro-markets. On the back of this strong growth, Incuspaze expects to close FY26 with revenues of Rs 350–400 crore, setting the stage for a potential IPO.
