DevX Signs India’s Single Largest ‘Development Management’ Deal of 8 Lakh Sq. Ft. in Ahmedabad

Ahmedabad, February 16, 2026: Enterprise-focused managed office space provider Dev Accelerator Limited has announced the signing of a landmark 8 lakh square feet deal in Ahmedabad, executed under the company’s innovative Development Management (DM) model. This stands as India’s single largest managed office transaction of its kind. The deal reinforces the company’s dominance in Tier II markets and is projected to generate an annual revenue of ₹120 crore upon completion.

Strategically located in the high-demand Ambli-Bopal micro-market, the new campus will be developed into a Grade A+ Green building to cater to the surging requirements of GCCs. With an investment of ₹100 crore slated over the next four years, this massive expansion will add 8,500 seats to the city’s commercial ecosystem, capitalizing on the infrastructure boom driven by Ahmedabad’s future growth prospects and the upcoming Commonwealth Games.

Unlike traditional lease models, this project is structured under the Development Management model, where DevX partners with non-institutional landowners to unlock the value of their prime real estate. DevX will manage the entire lifecycle—from planning and development to leasing and operations—delivering institutional-grade assets that meet global standards.

Speaking on this milestone, Umesh Uttamchandani, Managing Director, Dev Accelerator Limited, said, “This milestone reflects the shifting centre of gravity in India’s commercial real estate landscape towards high-growth Tier II cities. Through our Development Management model, we are enabling non-institutional landowners to create world-class, Grade A+ assets that global occupiers increasingly seek. As Ahmedabad prepares for large-scale global events and GCCs explore alternatives to saturated metro markets, this campus is positioned to play a defining role in the city’s economic trajectory.”

This record-breaking deal builds upon DevX’s proven dominance in the Ambli-Bopal micro-market, where the company recently delivered a successful 3.15 lakh sq. ft. managed office campus. That facility, which added 3,200 seats and currently books a revenue of ₹36 crore, has already achieved 95 per cent occupancy. It houses marquee clients such as Manubhai & Shah, Openxcell, Tatvic Digital Analytics, Walter P Moore, and Suzlon, validating the region’s appetite for premium, managed workspaces.

By consolidating such a vast inventory in a single prime location, DevX is effectively creating a self-sustaining business ecosystem that rivals established hubs in Tier I metros. This expansion underscores the company’s strategy of leveraging the Development Management model to aggregate fragmented land parcels into high-value institutional assets, driving value for landowners, enterprises, and the city’s economy alike.