New Delhi, March 27 -- Not long ago, headlines predicted the traditional office was on its way out, with work-from-home set to disrupt commercial real estate. But as 2026 unfolds, a different reality is taking shape across India's business hubs.

The office hasn't disappeared; it has evolved. In fact, the shift to hybrid work has emerged as a key driver for Real Estate Investment Trusts (REITs). To understand why, one must look beyond the empty desks of 2021 and focus on how companies are reimagining and utilising office spaces today.

When the five-day office week was the norm, companies often settled for good-enough spaces to work out of. If you had a thousand employees, you needed a thousand desks, and the cost per square foot was the ...