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Recent acquisitions of 480,000 square feet of office space in Gurugram by Smartworks, a leading player in the flexible office space sector, will result in an annual rental of Rs 94 crore. This strategic move demonstrates Smartworks' confidence in the growing demand for flexible workspaces in Gurugram, which has become a business hub due to its excellent infrastructure and strategic location. 

Smartworks' growth is set to significantly impact Gurugram's economy. Firstly, it helps the city establish itself as a top business center, attracting more organizations to the area. The influx of companies can lead to job growth, thereby enhancing the local economy and providing more employment opportunities for residents. 

Moreover, Smartworks' presence in Gurugram is likely to stimulate further development in the commercial real estate sector. A greater number of businesses seeking flexible office solutions will increase demand for these spaces and encourage other providers to expand their offerings to meet evolving corporate needs. 

Additionally, Smartworks' investment in Gurugram highlights the shift toward hybrid work models, where companies are increasingly opting for flexible office areas to accommodate both in-office and remote work setups. This trend is reshaping the traditional workplace landscape and driving the demand for flexible, state-of-the-art workspaces. 

Overall, Smartworks' major lease in Gurugram represents more than just corporate growth; it serves as a catalyst for economic development, innovation, and transformation in the local commercial real estate sector.