Hyderabad has recorded one of its most significant commercial real estate transactions of the year, with WeWork India leasing 1.75 lakh sq ft at Skyview 20 and subsequently sub-leasing the complete space to JP Morgan Services India. The agreements, registered in November 2025, underline the continued demand for managed office solutions from global financial and technology firms operating in the city’s western IT corridor.
Based on the information from CRE Matrix, local property records reveal that Wework has a tenancy agreement with the Mahanga Commercial Properties lasting for 5 years for two complete floors of Skyview 20, a Grade-A office tower in Hitech City, Madhapur. The initial rent for the lease is set at 1.72 crores per month, which makes up for around 98 per sq ft. Wework had given a deposit of 10.3 crores as a security amount for this deal.
Days later, the flexible workspace operator entered into a 60-month General Service Agreement with JP Morgan Services India. The complete 1.76 lakh sq ft area was transferred to the financial services major at a starting monthly rent of ₹4.38 crore, or ₹249 per sq ft. JP Morgan has taken 1,501 desks along with 176 dedicated car parking slots. The higher rent reflects the value of WeWork’s built-out workspace, infrastructure, and managed-office ecosystem, which continues to attract multinational occupiers looking for ready-to-use, scalable facilities.
As a part of a bigger Skyview campus, Skyview 20 is one of the most vibrant office parks in Hitech City. With features like metro connectivity, walking access to major tech campuses, and a cluster of high-density corporate buildings, the location has turned into a preferred hub of BFSI, global capability centres, and enterprise-level technology firms. The recent deal is a strong signal that the micro-market is firmly positioned amongst the most competitive office destinations in the country.
Industry analysts are of the view that the rent spread in this particular transaction is significantly indicative of a rising trend in Hyderabad wherein big multinational companies are increasingly going for full-floor managed solutions as opposed to bare-shell leases. This model helps in shortening fit-out timelines, facilitates compliance with global workplace standards and enables organisations to expand or personalise more quickly—organisations which happen to be the key considerations of those running large back-office and technology operations.
For WeWork India, the transaction adds to a growing list of strategic enterprise partnerships across major Indian cities. The operator continues to position itself as a managed workspace provider rather than just a coworking brand, with significant uptake coming from banking, consulting, and technology clients.
JP Morgan has also been expanding consistently across major commercial hubs. Earlier in the year, the company pre-leased 1.16 lakh sq ft in a commercial tower in Mumbai’s Bandra Kurla Complex (BKC), being developed by Goisu Realty, a subsidiary of Sumitomo Realty & Development. That deal was signed at a monthly rent of ₹6.91 crore, underlining the company’s long-term plans for India.
Hyderabad’s flexible workspace market has grown steadily over the past three years. With 79.7 million sq ft of flex stock across India’s top eight cities as of Q2 2025, the country has emerged as the Asia-Pacific region’s largest flex market. The segment is projected to cross 100 million sq ft nationwide by 2026, according to Cushman & Wakefield’s Global Trends in Flexible Office 2025 report. Bengaluru leads the country in flex stock, followed by Delhi-NCR, Pune, and Hyderabad.
The WeWork–JP Morgan deal adds momentum to the city’s commercial real estate pipeline as companies continue to consolidate operations, expand global capability centres, and secure long-term workspace commitments in key micro-markets such as Hitech City, Financial District, and Gachibowli.
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