Office absorption up 52% in Q4 of CY20 on sequential basis: JLL report

While IT/ITeS continues to grab the lion's share, leasing activity is being driven by increased demand from sectors such as e-commerce, healthcare and FMCG

Driven by pre-commitments in new completions during the quarter, the company’s office market continues to recover witnessing a net absorption of 8.27 million sq ft, up 52 per cent in the fourth quarter of Calendar 2020 on a sequential basis. While IT/ITeS continues to grab the lion's share, leasing activity is being driven by increased demand for office spaces from sectors such as e-commerce, healthcare and FMCG, according to a JLL report.

Except for Bengaluru, net absorption of office spaces improved in the other six cities (Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai, Pune) according to the report. Hyderabad led the