- 9-year pact with Manubhai & Shah LLP anchors annuity revenue and enterprise trust
- Ahmedabad emerges as a strategic hub as firms shift to scalable, managed workplaces
- Capital One campus turns into multi-sector enterprise powerhouse with 2,000-seat capacity
- Deal signals a structural shift in commercial real estate towards flexibility and efficiency
NE BUSINESS BUREAU
AHMEDABAD, APR 13
In a landmark move underscoring the rapid evolution of India’s commercial real estate landscape, Dev Accelerator Limited (DevX) has secured a ₹110-crore enterprise deal with Manubhai and Shah LLP, marking one of the largest flexible workspace transactions in a Tier-II city.
The 9-year agreement, spanning nearly 1 lakh sq. ft., not only ensures long-term revenue visibility for DevX but also reflects a decisive shift by large enterprises towards managed office ecosystems.
As part of the deal, Manubhai & Shah LLP will relocate its Ahmedabad headquarters to DevX’s premium Capital One campus, designed to accommodate 2,000 seats, with over 1,000 seats already committed in Phase 1.
Umesh Uttamchandani, Managing Director, Dev Accelerator Limited, said, “This is a defining transaction not just in scale, but in what it represents for the future of commercial real estate. A commitment of this size and tenure reflects increasing enterprise confidence in managed workspace platforms as long-term infrastructure partners. Having partnered with Manubhai & Shah LLP across multiple cities over the last five years, their decision to entrust us with their new headquarters reflects the strength of our long-standing partnership and the confidence they place in our offerings. As businesses expand beyond traditional metros, cities like Ahmedabad are becoming strategic growth centres. Our focus remains on building institutional-grade workspaces that combine flexibility with operational reliability, enabling enterprises to scale efficiently.”
The Capital One campus is fast emerging as a vibrant enterprise ecosystem, hosting a diverse tenant mix across sectors. Key occupiers include Openxcell Technolabs Private Limited, Tatvic Digital Analytics Private Limited, Advanced Clinical India Private Limited, Walter P Moore, and others—reflecting strong cross-industry demand.
Spanning 3.15 lakh sq. ft., the integrated campus offers a next-generation workplace experience with amenities such as managed cafeterias, coffee lounges, wellness zones, gym, crèche, breakout areas, and collaborative event spaces—catering to the evolving needs of modern enterprises.
Industry observers note that as India’s business footprint becomes increasingly decentralised, companies are prioritising agile, experience-driven workspaces that enhance productivity while reducing operational complexity—placing managed office platforms like DevX at the centre of this transformation.
