Office Space Leasing

ChatGPT parent OpenAI leases first 50-seater office space in New Delhi

OpenAI is planning to open its first office in India, as the country is its second-largest ChatGPT user base

Office rentals in top cities surge 6% in 9M 2025, vacancy dips 3%: Anarock

Average office rentals in India's top cities rose to nearly ₹90 per sq ft in 2025, while vacancy fell to 16.2% amid rising absorption and steady demand, says Anarock Research

Coworking firms bet big on GCC demand with specialised, premium centres

Segment becoming super lucrative with rentals looking up by 40-45% vs flagship spaces

Office space leasing to fall 1% in July-Sept across top 7 cities: Report

Office space leasing is estimated to fall 1 per cent during July-September to 172 lakh square feet across seven major cities, mainly on lower demand in Bengaluru, Hyderabad and Delhi-NCR, according to Colliers India. The gross leasing of office space stood at 174 lakh (17.4 million) sq ft in the year-ago period. Gross absorption does not include lease renewals, pre-commitments and deals where only a Letter of Intent has been signed. According to the data, the gross office space leasing in Bengaluru is set to fall 25 per cent to 47 lakh (4.7 million) sq ft in the third quarter of this year from 63 lakh (6.3 million) sq ft in the year-ago period. In Delhi-NCR, the office leasing is projected to decline to 16 lakh (1.6 million) from 24 lakh (2.4 million) sq ft. Hyderabad too is likely to witness a fall of 48 per cent in workspace demand to 15 lakh (1.5 million) sq ft from 29 lakh (2.9 million) sq ft. Colliers India did not provide the reasons for likely decline in office leasing ...

India leads APAC office demand with 70% share in H1 2025 leasing: Report

Country accounts for 48% of new office supply in APAC and demand 'remains positive': Colliers

Co-working operators' office leases up 48% in top 7 cities: Colliers

Co-working centre operators have rented 65 lakh square feet of office space during the January-June period this year across seven major cities, up 48 per cent on an annual basis, on rising demand for managed and flexible workspaces from corporates, according to Colliers India. Co-working operators leased 44 lakh square feet in the corresponding period of 2024 calendar year across seven cities -- Delhi-NCR, Mumbai, Kolkata, Chennai, Hyderabad, Pune and Bengaluru. The co-working operators take office spaces on rent from real estate developers and property owners and then sub-lease it to corporates of all sizes. Although many corporates have started opting managed office space provided by co-working operators to save cost and hassles, a large number of companies still take conventional workspaces directly from builders and property owners. Colliers India data showed that the total gross leasing or absorption of office space rose 13 per cent to 337 lakh (33.7 million) square feet durin

Top 10 micro markets to drive 80% of India's office space growth: Colliers

A Colliers report finds that high-activity micro markets will drive the bulk of office demand and supply growth, fuelled by flex space, GCC traction and REIT-worthy stock

Embassy REIT Q4 results: Net income up 17% to ₹892 cr, calls ₹538 cr payout

Embassy Office Parks REIT on Tuesday reported a 17 per cent increase in its net operating income to Rs 892.3 crore and declared a distribution of Rs 538.4 crore to unitholders for the quarter ended March. Its net operating income (NOI) stood at Rs 765.6 crore in the year-ago period. The company declared distributions of Rs 538.40 crore or Rs 5.68 per unit for the quarter ended March 31, 2025, to unitholders in the form of dividend and other income. The NOI for the 2024-25 fiscal rose 10 per cent to Rs 3,283.5 crore from Rs 2,981.9 crore in the preceding year. The distributions for the 2024-25 amount to Rs 2,181.1 crore or Rs 23.01 per unit. "In FY25, we leased 6.6 million square feet, delivered 2.5 million square feet of new development and acquired a 5 million square feet of high-quality asset," Ritwik Bhattacharjee, Chief Executive Officer of Embassy REIT, said. He said the company increased distributions by 8 per cent this fiscal and has given guidance of double-digit distribu

Top 7 Indian cities see 4-8% rise in office rent in 2024: Vestian

The rent for office spaces in India's seven major cities rose 4-8 per cent annually in 2024 while the eight big overseas markets saw a mixed trend in rental growth, according to Vestian. As per the data by real estate consultant Vestian, the average office rent in New York fell 1.3 per cent in 2024 to USD 7.5 per square feet per month. Shanghai saw a decline of 6.8 per cent to USD 2.8 per square feet per month, while Hong Kong witnessed a fall of 6 per cent to USD 5.9 per square feet a month. Office rent in Seattle dipped 1.9 per cent in 2024 to USD 4.7 per square feet per month. However, the average office rentals rose in London by 8.6 per cent to USD 8.6 per square feet per month. Miami saw a 7.3 per cent increase in office rent in 2024 to USD 5.1 per square feet per month, while Boston witnessed a 1.2 per cent rise to USD 5.5 per square feet per month. The average office rent in Singapore inched up 0.5 per cent in 2024 to USD 7 per square feet per month. Vestian CEO Shrinivas

Office space leasing rises 74% in Jan-Mar across top 8 cities: Knight Frank

India's top eight office markets witnessed a 74 per cent rise in gross leasing of office spaces in the latest March quarter to a record 282 lakh square feet, mainly driven by a strong demand for foreign firms setting global capability centres (GCCs), according to Knight Frank. On Thursday, real estate consultant Knight Frank India released its 'India Real Estate: Office and Residential Report' for January-March 2025. "Q1 2025 was an exceptional period for the Indian office space market. With the demand for GCCs consistently breaching new highs, global perception of India as a long-term investment destination continues to strengthen," Shishir Baijal, Chairman and Managing Director of Knight Frank India, said. Among eight major cities, Knight Frank data showed that the gross leasing of office space in Bengaluru jumped more than three times to 127 lakh square feet during January-March 2025 from 35 lakh square feet in the year-ago period. Around 58 per cent (74 lakh square feet) of the

BFSI sector leases 13.4 msf of office space in 2024, up 19% from 2023: JLL

Foreign BFSI firms accounted for 68.3 per cent of total BFSI leasing in 2024

Office space demand may rise 5% in top 6 cities to 70 mn sq ft: Colliers

Demand for office space in India's top six cities is expected to remain strong this calendar year with gross leasing transactions estimated at 650-700 lakh square feet, according to Colliers India. The gross leasing of office space stood at record 664 lakh square feet in 2024 calendar year across Delhi-NCR, Mumbai, Bengaluru, Pune, Hyderabad and Chennai. Real estate consultant Colliers India on Tuesday released its report 'India Office: Setting New Standards for 2025' at the FICCI 18th Real Estate summit here. India's top six cities have witnessed significant scale-up in office leasing and supply, helping office market set new records in successive years. "The scale-up, mainly driven by evolving occupier preferences is likely to gain further momentum, with gross leasing across the top six cities projected to reach 65-70 million (650-700 lakh) sq ft in 2025," the consultant said. The surge in overall leasing volume is likely to be driven by diversification of occupier base, continu

Net office leasing may rise 10-11% in FY25 across 6 major cities: Icra

Rating agency ICRA on Thursday said the net absorption of office space across six major cities is likely to rise 10-11 per cent to 590-600 lakh square feet this fiscal year. In a statement, ICRA said that the net leasing of offices across the top six cities (Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai Metropolitan Region (MMR) and Pune) in India is likely to increase by 10-11 per cent to 59-60 million (590-600 lakh) square feet in 2024-25 and witness a further growth of 3-4 per cent in the next fiscal on a high base. Despite an influx of a huge supply of 125-130 million (1,250-1,300 lakh) square feet in 2024-25 and 2025-26, the vacancy levels are expected to remain range-bound at 14.5-14.7 per cent by March 2025 and improve to 14-14.5 per cent by March 2026, supported by resilient absorption trends. Anupama Reddy, Vice President and Co-Group Head, Corporate Ratings, ICRA, said the leasing activity remained firm with net absorption of around 54 million square feet in 2023-24 and

Demand for retail spaces in malls, high streets falls 10% in 2024: CBRE

Leasing of retail spaces in shopping malls and high streets fell 10 per cent last year to 64 lakh square feet across eight major cities due to supply constraints, according to CBRE. The gross absorption or leasing of retail spaces stood at 71 lakh square feet in 2023 calendar year. Real estate consultant CBRE data pertains to leasing in investment-grade shopping malls, high streets and standalone developments. "India's retail landscape is set for significant growth in 2025, with primary leasing demand gaining momentum and 5-6 million (50-60 lakh) sq ft of Grade A malls expected to commence operations in cities such as Delhi-NCR, Hyderabad, Mumbai, and Bengaluru," Anshuman Magazine, Chairman & CEO, India, Southeast Asia, Middle East & Africa, CBRE, said. Leasing activity is anticipated to remain steady, supported by a robust supply pipeline and strong demand from mid-range fashion, value fashion, athleisure, and jewellery segments, he added. "Retail spaces are evolving into ...

Office space leasing in top 8 cities surpasses 2019 levels: Knight Frank

Demand for office space across eight major cities was at an all-time high during last year, beating previous high in pre-COVID year 2019, according to Knight Frank. During 2020 and 2021 calendar years, the office space demand had plunged due to the outbreak of COVID pandemic. Total office space absorption during the 2024 stood at an impressive 719 lakh square feet, surpassing the previous peak achieved in pre-pandemic 2019 by 19 per cent. On a Year-on-Year (YoY) basis, office space transactions in 2024 recorded a 21 per cent growth compared to 2023. This stellar achievement reflects India's economic resilience, sustained GDP growth, robust domestic consumption, and the country's increasing prominence in the global economic landscape, real estate consultant Knight Frank India said. The exceptional demand for office spaces underscores the confidence of global and domestic businesses in India's thriving business, it added. On the office market, premium managed office space operator

Bengaluru drives office demand in 2024 with leasing of 21.8 mn sq ft: CBRE

Bengaluru has led growth in India's key office markets, with gross leasing in the IT hub hitting a record nearly 220 lakh square feet in 2024, according to CBRE. Real estate consultant CBRE on Monday released data for nine major Indian office markets. In Bengaluru, the gross office leasing increased to 218 lakh square feet in 2024, from 155 lakh square feet in the preceding year. Flexible space operators rented 36 lakh square feet office space in Bengaluru during 2024, as against 22 lakh square feet in the preceding calendar year. New supply of office space in Bengaluru, however, declined to 140 lakh sq ft, from 154 lakh sq ft in 2023. In Bengaluru, the rentals stood at Rs 77-92 per square feet a month. CBRE said that office leasing recorded a historic high of 790 lakh sq ft in 2024 across nine cities. The absorption marked a 16 per cent annual growth, setting a new benchmark for leasing activity. Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & ...

Office leasing rises 19% in 2024 in top 8 cities on strong demand: C&W

India's office market was very active in 2024 with gross leasing of workspace witnessing a 19 per cent increase to a record 885.2 lakh square feet across eight major cities, according to Cushman & Wakefield. The gross leasing or absorption of office space stood at 745.6 lakh square feet in the preceding year, data from real estate consultant Cushman & Wakefield (C&W) showed. "The year 2024 has been a defining year for India's office sector, achieving record-breaking leasing volumes and reaffirming the country's position as the strongest growth market globally for office space demand," said Anshul Jain, Chief Executive, India, Southeast Asia and APAC Tenant Representation, Cushman & Wakefield. The growing presence of Global Capability Centers (GCCs), contributing nearly 30 per cent of total demand, underscores India's strategic importance for global multinationals, he highlighted. "As we move into 2025, the demand for Grade-A spaces is expected to remain robust, further

Gross leasing of office space rises 14% in top 6 cities: Colliers India

Office space demand remained strong this year with gross leasing of workspace rising 14 per cent to a record 66.4 million square feet across six major cities, according to Colliers India. Gross leasing of Grade A office spaces stood at 58.2 million square feet in 2023 calendar year. Real estate consultant Colliers India on Tuesday released the data for India's six major office markets. Bengaluru saw a record office leasing of 21.7 million square feet in 2024, up 39 per cent from 15.6 million square feet in the preceding calendar year. The gross office space leasing in Hyderabad rose 56 per cent to 12.5 million square feet from 8 million square feet. Mumbai witnessed a 43 per cent increase in demand to 10 million square feet from 7 million square feet, while Pune saw a modest 4 per cent increase in office space leasing to 5.7 million square feet from 5.5 million square feet. However, the demand fell in Chennai and Delhi-NCR. The gross leasing of office space in Chennai declined t

Chennai to add 12-13 million sq ft of premium office space in 2025-26

Chennai is set to add about 12-13 million sq ft of premium office space between 2025 and 2026 following strong demand from corporates engaged in various sectors and industry, a report by real estate consulting firm CBRE South Asia Pvt Ltd has said. Currently, the city is home to about 250 Global Capability Centres (GCC) that employ over 1.50 lakh professionals, constituting about 11 per cent of the total GCC talent. The presence of Global Capability Centres in Chennai is expected to touch 460 units by 2030, it said. Strategic policies by the government including the Tamil Nadu Startup and Innovation Policy, Research and Development Policy, payroll subsidy programme for newly established GCCs are solidifying the city's role as a hub for innovation and talent, the study has revealed. The real estate consulting firm CBRE, recently, released the report 'Tamil Nadu: The Epicentre of Capability and Innovation Leadership' which highlights the city's rising prominence as a key destination f

Co-working firm Incuspaze to raise Rs 210 cr to fund expansion, plans IPO

Stock listing in five years as corporate demand for flexible offices increases in cities