BHIVE leases 1.4 lakh sq ft at Phoenix Asia Towers, enters North Bengaluru

Bengaluru: BHIVE has signed a lease for 1.4 lakh sq ft at Phoenix Asia Towers, next to Mall of Asia in Hebbal. The centre will have around 2,600 seats and marks its entry into North Bengaluru. This is also its first deal with The Phoenix Mills Limited.

The deal is part of a wider scale-up plan. BHIVE is adding 1 million sq ft of new workspace in 2026 with an investment of ₹250–300 crore. The company is expanding through large-format campuses across key micro-markets in Bengaluru and currently serves over 25,000 professionals.

Also Read: BHIVE to raise Rs 400 crore pre-IPO fund to accelerate expansion and IPO listing


“The response to BHIVE’s campus model has been strong. We are seeing growing demand for such developments across Bengaluru. In line with this, we are expanding our footprint, with close to 1 million sq ft being added in 2026. Phoenix Asia Towers in Hebbal is the first of these new sign-ups,” said Shesh Rao Paplikar, Founder & CEO, BHIVE Workspace.

This expansion follows a series of recent moves. BHIVE leased over 1 lakh sq ft in Bellandur in 2025, marking one of its larger single-centre transactions. The company is also preparing for a public listing, supported by a planned ₹400 crore pre-IPO funding round, which will help expand into cities such as Pune, Hyderabad and Chennai.

BHIVE’s strategy is focused on large office campuses rather than smaller centres. This aligns with demand from enterprises and global capability centres (GCCs), which are taking larger spaces and expanding within the same location.

Also Read: India's 17 small towns house 575 co-working centres to cater managed office space demand: Report

The timing of the Mall of Asia lease comes amid strong growth in flexible workspaces. Flex spaces accounted for around 20% of total office leasing in India in 2025, driven by enterprise demand and hybrid work models. Industry estimates indicate total flex stock across top cities could cross 100 million sq ft by 2027, up from about over 70 million sq ft currently.

Enterprises are increasingly using flexible offices for long-term space planning, with larger deal sizes and longer commitments. GCCs are expected to drive a significant share of this demand over the next few years.