Office space leasing up 89% in Sept quarter driven by IT sector: Colliers

Top six Indian cities see biggest office space demand since January-March 2020

With an increasing number of businesses asking employees to return to their physical workplace, the demand for office spaces shot up 89 per cent in the quarter ended September, compared to the previous quarter. After the Coronavirus (Covid-19) pandemic’s second wave in the second quarter, the overall absorption numbers rose as companies planned for a gradual re-entry and closed deals that were on-hold, leveraging tenant favourable market dynamics.

According to a report by real estate investment company Colliers, the top six cities of India witnessed about 10.3 million sq ft of gross office absorption in the July-September period, the highest