Urban Vault Expands to Prime Bengaluru Market with Major Lease Agreement

Urban Vault has leased 1 lakh square feet of office space from Brigade Group in Bengaluru to accommodate the growing demand for managed workspaces. The company operates over 20 lakh square feet of office spaces and plans to expand to Pune, Gurugram, and Hyderabad. The new facility in Whitefield will offer more than 2,000 desks.

Urban Vault has secured a 1 lakh square feet lease in Bengaluru from Brigade Group to meet the rising demand for managed workspaces among domestic and global corporations.

Urban Vault's extensive portfolio currently includes over 20 lakh square feet of office space, housing more than 30,000 desks. The firm plans to expand to Pune, Gurugram, and Hyderabad by the end of this fiscal year, boasting a 91% occupancy rate in its current centers.

The new location, situated in the 'Brigade Summit' project in Whitefield, Bengaluru, will feature over 2,000 desks with per-seat costs starting at Rs 9,000 per month. Co-founder and CEO Amal Mishra noted that post-COVID demand for office space has surged, with corporations favoring hassle-free managed options. Urban Vault aims to tap into Pune, Delhi-NCR, and Mumbai markets as well.

(With inputs from agencies.)