Deal highlights rising demand for premium flexible workspaces in India’s IT hubs.

Executive Centre Leases 2 Lakh Sq Ft Office Space in Hyderabad’s HITEC City

The Executive Centre (TEC) has leased over 2 lakh sq ft of premium office space in HITEC City, Hyderabad, underlining strong demand for flexible and serviced workspaces in major IT corridors. The space has been taken on lease at Avance Business Hub from Phoenix Infocity Private Limited, as per documents accessed through Propstack. The 60-month lease, commencing February 1, 2026, covers floors 3 and 4 and is priced at a base rent of Rs 110 per sq ft per month, translating into a monthly outgo of about Rs 2.24 crore. The agreement includes a six-month rent-free fit-out period and a refundable security deposit of Rs 14.39 crore. Hong Kong-headquartered TEC plans to invest Rs 125 crore to expand across Indian cities, with Hyderabad emerging as a key growth market due to its strong talent pool, infrastructure, and multinational presence.