Bengaluru-based Concorde has signed a leasing agreement with flexible workspace provider BHIVE Workspaces for 1.4 lakh sq ft of Grade-A office space at Concorde Econex, at an annual rental value of ₹16 crore.

The new facility, located in the prominent tech corridor of Doddanekkundi in Bengaluru, comprises a ground floor and four upper floors. It has been designed to cater to the growing demand from enterprises seeking high-quality, flexible workspaces.

The partnership is structured as a long-term commitment, with a 15-year lease that will enable BHIVE to add over 3,000 seats in the city.

The office is within walking distance of Seetharampalya Metro station and just minutes away from the Outer Ring Road (ORR) Blue Line, enhancing its connectivity.

The deal underscores the continued boom in East Bengaluru, particularly in areas such as Whitefield, Marathahalli, and the Outer Ring Road corridor, which are home to some of India’s largest IT parks and multinational companies, which include Bagmane Tech Park and Google’s Ananta campus.

On the residential front, East Bengaluru continues to hold the highest share of unsold housing stock at 43 per cent, followed by North Bengaluru at 32 per cent, according to ANAROC. Both regions remain dominant in overall inventory concentration.

In terms of budget segmentation, high-end units account for the largest share of available inventory at 38 per cent, followed by luxury housing at 31 per cent and mid-segment homes at 19 per cent. Ultra-luxury residences make up 8% of the stock, while the affordable segment accounts for a modest 5 per cent.

Published on May 1, 2026