International Real Estate Partners (IREP) has partnered with India Accelerator to launch IREPworkspaces, a managed office platform targeting Delhi-NCR’s booming commercial real estate market. The joint venture plans to invest ₹100 crore over 18 months to develop nearly nine lakh square feet of managed office space. The first phase will establish 12-15 workspace centres offering around 15,000 seats. Key micro-markets in focus include Golf Course Extension Road, Udyog Vihar, and the Noida Expressway. The company has already secured 1.5 lakh sq ft and is actively scouting an additional 7-8 lakh sq ft.
Key Highlights
- Investment: ₹100 crore committed over 18 months
- Target footprint: ~9 lakh sq ft of managed office space across NCR
- Phase 1 goal: 12–15 centres with approximately 15,000 seats
- Space secured so far: 1.5 lakh sq ft; 7–8 lakh sq ft pipeline in progress
- Focus locations: Golf Course Extension Road, Udyog Vihar, Noida Expressway
- Partnership roles: IREP handles real estate operations and facilities management; India Accelerator provides market access via its startup and enterprise ecosystem
Why These Micro-Markets Matter
Golf Course Extension Road in Gurugram has emerged as one of NCR’s most active Grade-A commercial corridors, attracting multinational firms and financial services companies. Udyog Vihar offers well-established industrial and office infrastructure with strong connectivity to central Delhi. The Noida Expressway, meanwhile, continues to attract technology companies, GCCs (Global Capability Centres), and mid-sized enterprises seeking cost-efficient, high-quality workspace.
Together, these locations represent NCR’s most in-demand addresses for flexible and managed office solutions, making them logical targets for a platform of this scale.
What This Means for Buyers and Investors
For businesses and occupiers, IREP workspaces offers an alternative to long-term leases particularly relevant for startups, mid-sized companies, and enterprises scaling their teams in NCR. The managed model means operational costs and facilities management are handled centrally, reducing friction for growing teams.
For real estate investors and developers, the entry of a globally experienced operator like IREP signals continued institutional confidence in NCR’s managed office segment. The ₹100 crore commitment also reflects growing demand for flexible workspaces in the post-pandemic office landscape, where companies increasingly prefer agility over fixed infrastructure.
The partnership structure is notably complementary: IREP brings global facilities management expertise, while India Accelerator contributes a ready ecosystem of occupier demand from early-stage startups to established enterprises.