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Urban Vault, a Bengaluru-based coworking and managed workspace operator, has provided a 16,000 sq ft office space in Gurugram to Green SM, the electric ride-hailing company backed by Vietnam’s Vingroup. The facility, located on Golf Course Road in Sector 54, accommodates around 500 seats and marks Green SM’s first office in India. The agreement forms part of a broader partnership under which Urban Vault will support Green SM’s workspace requirements across key Indian cities. The development comes amid strong demand for flexible office solutions in major urban markets, with coworking operators significantly increasing office leasing activity during the first quarter of 2026, according to industry data.
Urban Vault has provided a 16,000 sq ft managed office space in Gurugram to Green SM, the electric ride-hailing service backed by Vietnam-based Vingroup, as the company begins building its operational footprint in India. The workspace, located on Golf Course Road in Sector 54, Gurugram, accommodates around 500 seats and serves as Green SM’s first office in the country.
The transaction is part of a wider partnership between Bengaluru-headquartered Urban Vault and Green SM, under which the workspace provider will support the mobility company's office requirements across major Indian cities as it expands its presence in the market.
Urban Vault currently manages a portfolio of more than 2.80 million sq ft across over 80 locations, representing upwards of 70,000 seats. The company’s operations are concentrated primarily in Bengaluru, Pune and Gurugram, where it offers managed office and coworking solutions to enterprises.
Amal Mishra, co-founder and Chief Executive Officer of Urban Vault, said the company had partnered with Green SM to support its growth plans in India. He stated that Green SM’s decision to work with Urban Vault reflected the firm's ability to deliver scalable and flexible workspace solutions for international companies entering the Indian market.
Mishra noted that Urban Vault currently operates only one coworking centre in the Delhi-NCR region. However, he said the company is in discussions to expand its footprint further by opening additional facilities in Gurugram and Noida to cater to growing demand.
Commenting on market conditions, Mishra said demand for managed and flexible office spaces remains strong across Tier I cities. He added that demand in Tier II markets is currently limited, although he expects adoption to improve gradually over time.
Green SM India Chief Executive Officer Bach Tuan Anh said India represents a strategic market for the company and that establishing a dependable workspace network is important as operations scale across the country. He stated that Urban Vault’s ability to provide fully managed, flexible and scalable office solutions in key locations aligns with Green SM’s expansion strategy.
The deal reflects the continued growth of India’s flexible workspace sector, which has seen increased leasing activity from coworking operators seeking to expand capacity. According to property consultancy Colliers India, coworking operators leased 3.9 million sq ft of office space from developers during the January–March 2026 quarter, representing a 77 per cent year-on-year increase. The surge in leasing activity has been driven by rising demand from enterprises seeking flexible workspace options and managed office solutions across major business centres.
Source - PTI
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