DevX expands Bengaluru presence as Office Market Bifurcates: India Sets All-Time Leasing Highs while US Vacancies Rise

DevX expands Bengaluru presence as Office Market Bifurcates: India Sets All-Time Leasing Highs while US Vacancies Rise​

The global office market is exhibiting two distinct narratives, with demand increasingly concentrating on high-quality buildings and the operational experience within them. In contrast to struggles in mature markets, India’s leasing segment continues its strong upward trajectory, as reported by industry sources.

Dev Accelerator Limited (DevX), a key player in the space, announced significant expansion and secured recognition for its commitment to high-quality workspace design amidst this evolving market landscape.

Market Trends: Quality Defines the Modern Office​

Office demand is showing sharp contrasts across developed economies. While older office stock in places like New York, Chicago, and San Francisco is struggling with rising vacancy rates—which crossed 20% in the U.S. in 2024 (Moody's Analytics)—India’s leasing market has hit a record high.

Gross office leasing in India registered 79.0 million sq. ft. in 2024, climbing further to 82.6 million sq. ft. in 2025. This trend continued into the first half of 2026, with 45.5 million sq. ft. leased, marking a record-breaking performance for H1 2026 (CBRE).

The data highlights a clear pattern: demand is shifting toward premium buildings that offer enhanced amenities and strong sustainability credentials. This shift is being underpinned by green standards; since 2021, approximately three out of four square feet of new office space leased in India has been located in green-certified buildings (JLL).

The Rise of Managed Office and Investment Trusts​

The business model for office space is undergoing a transformation, moving from being an asset purchase to a consumer experience. Rushit Shah, Whole-Time Director at Dev Accelerator Limited, noted that the advantage in real estate is no longer the structure; it is the operational quality and daily experience provided.

In parallel with this shift toward experiential workspaces, India is introducing new financial methods for investing in commercial property through Small and Medium Real Estate Investment Trusts (SM REITs). This mechanism allows investors to purchase small, listed units backed by income-generating office buildings rather than buying an entire property. The minimum investment threshold is approximately ₹10 lakh.

CBRE estimates that the potential market segment for SM REITs could encompass over 500 million sq. ft. of office, retail, and logistics assets in India, representing a market worth more than US$75 billion.

DevX Expansion and Recognition​

In operational updates, Dev Accelerator Limited announced its expansion into the Bengaluru market. The company opened 1.11 lakh sq ft across two premium Prestige Group addresses situated on the ORR corridor, adding over 1,200 seats in India’s highly competitive office environment.

The firm also received national recognition, being honored with the Excellence in Co-working Startup of the Year award at the Crafting Bharat Business Conclave & Awards 2026, reflecting client and partner trust in its offerings.

DevX welcomed two new clients, Tatvic and Walter P Moore, to its DevX Capital One centre in Ahmedabad. The company also hosted various community engagement events across different cities, including an AU Bank event in Udaipur, a International Yoga Day event in Rajkot, and a session on the Art of Living at the Udaipur center.

DEVX Stock Price Movement​

Dev Accelerator Limited's stock slipped as of market close, settling lower after shedding ₹0.71 or 2.02% today. The shares traded a total volume of 60,287, hitting an intraday low of ₹34.45 before the closing bell.