Top-5 IT firms to rent 12 mn sq ft office space on robust hiring: Report

Co-working spaces to see demand because the challenges of the pandemic continue with discovery of new variants such as Omicron

The top-5 information technology companies’ incremental demand for office spaces, based on strong hiring in the last eighteen months, would be nearly 11.67 million sq ft over the next one to two years, according to a report by realty consultant Knight Frank India.

In 2019, the IT sector accounted for a quarterly average of 7 million sq ft of office space consumption, while the average office space leased across all sectors was 15 million sq ft. The Covid pandemic and the subsequent lockdowns forced many companies to review their office space strategies.

Office space consumption by the IT sector fell considerably during