WeWork's revenue declined in the third quarter but its cash burn slowed, a company memo showed, with management confident it can weather the hit to the office sector from Covid-19
On a yearly basis, the absorption of space has fallen 50 per cent from 10 million sq ft in Q3CY19 to 5.4 million sq ft in Q3CY20
On residential real estate, JLL India CEO said the housing sales have improved of late but it was only 30 per cent of the pre-Covid-19 level
According to the data, Bengaluru, Hyderabad, NCR and Mumbai accounted for about 80 per cent leasing of office space during the first six half of this calendar year
The leasing of co-working space went up about 2.4 times to 550,000 sq ft in Mumbai in 2017 from 160,000 sq ft in 2016
The share of IT firms in office leasing in Noida has shot up from 59 per cent in 2016 to 64.17 per cent in 2017
Slow pace of project execution attributed as the reason behind decline
Higher demand from corporates based in Europe, West Asia and Africa triggered a marginal increase in leasing activity, says report