Office space supply to double this year to 67.9 mn sq ft: Colliers report

Projection based on construction timelines of commercial projects, as indicated by developers across top seven cities

Supply of office spaces are set to more than double this year to 67.9 million square feet, said a new study.

In H1 2019, the supply was 23.2 million sq ft, about 28 per cent higher than H12018, said Colliers International. It expects similar amount to hit the market in H2 2019.

At 61.3 million square feet a year, the supply of office spaces between 2019-2023 to rise 112 per cent compared to supply from 2014 to 2018, Colliers said.

“The supply has been projected on the basis of construction timelines of commercial projects, as indicated by developers across the