Browsing: Colliers International

Reports India Office Space, Demand of Office Space, Supply of Office Space, Absorption of Office Space, Vacancy Level in Office Space, Grade A Office Space, Colliers International, Ritesh Sachdev, Megha Maan

Demand for office space surges 9% in Jan-Sept 2019; Supply up 53% from year ago: Colliers Research

Bengaluru maintains the top position in office space leasing, with a share of 30% in gross leasing during Jan-September 2019. Bengaluru recorded gross absorption of 12.1 million sq feet during Jan-September 2019, a 7% increase from same period last year, as occupiers continue to ramp up.  IT-BPM and technology companies together accounted for 36%. Engineering and manufacturing sector’s leasing accounted for 18% share. Occupiers are preleasing space, and even taking up space in refurbished grade B buildings, due to tight vacancies in the market amidst healthy demand. The city’s vacancy stood at 8.8% at the end of Q3 2019.

Reports Office Space, Office Leasing, Commercial Real Estate, India Real Estate News, Indian Realty News, Real Estate News India, Indian Property Market News, Investment in Property, Colliers International Report

Gross leasing activity in India touched 11 million sq ft in Q1 2019: Colliers

Tech & IT-BPM sector accounted for the largest share at 38%. Flexible workspaces (co-working) has contributed close to 30% of office leasing. The demand for space was not only led for foreign players, but also home-grown operators who are rushing to capture a pie of this space. The absorption by flexi-operators will pick up pace in the wake of developers jumping onto the bandwagon.