WeWork Mega Lease in Hyderabad

A major office space lease has been recorded in Hyderabad. WeWork India has taken 1.75 lakh sq. ft. of space on a five-year lease at Grade-A Tech Park, Skyview 20, located in Hitec City. WeWork signed the agreement with an initial monthly rent of ₹1.72 crore. It later sub-leased the entire two-floor space to JP Morgan Services India Private Limited for 60 months at a monthly rent of ₹4.38 crore, according to real estate consultancy CRE Matrix.

The primary lease agreement was signed between Mahanga Commercial Properties and WeWork, while the sub-lease was executed between WeWork and JP Morgan. Both agreements were registered last month. The initial lease transaction between WeWork and Mahanga Commercial Properties was registered on November 7, with WeWork agreeing to pay ₹98 per sq. ft. per month, amounting to ₹1.72 crore monthly rent. WeWork paid a security deposit of ₹10.3 crore.

On November 13, WeWork and JP Morgan signed a General Service Agreement (sub-lease). The entire 1.75 lakh sq. ft. space was leased to JP Morgan at ₹249 per sq. ft., with a monthly rent of ₹4.38 crore. WeWork upgraded the space with fit-outs, amenities, and workspace design to convert it into a premium facility. The space is spread across the 5th and 6th floors of Skyview 20 in Hitec City. JP Morgan paid a security deposit of ₹25.9 crore. The office includes 176 car parking slots.

Skyview 20, located on the Hitec City main road, is part of the larger Skyview campus—one of Hyderabad’s premium Grade-A tech parks. Its proximity to major campuses, metro connectivity, and growing demand for high-density workspace parks have increased the demand for office spaces here.

Earlier this year, JP Morgan Private Limited pre-leased 1.16 lakh sq. ft. at ₹6.91 crore monthly rent in a commercial tower being developed by Goisu Realty Private Limited (an arm of Japanese company Sumitomo Realty & Development) at Bandra Kurla Complex (BKC), Mumbai, as per Propstack.