Page 4 - Office Space Leasing

Smartworks leases tech park in Bengaluru; aims Rs 1,000 revenue in 2022

Smartworks' revenues have increased three-fold, and it aims to reach the Rs 1,000 crore revenue milestone in 2022

'Leasing of space at 18.2 mn sq ft in top 9 cities during Jun quarter'

Leasing of office space in top nine cities rose 61 per cent during the June quarter to record 18.2 million square feet from the previous quarter on better demand, according to a report. Real estate consultant CBRE on Monday releases its office leasing data for April-June (Q2) of 2022. "...office sector leasing in India recorded the highest-ever activity with a strong performance in Q2 2022," CBRE said in a statement. The gross leasing of office space jumped 220 per cent from the same period of the last year. "The office sector in India reflected a strong recovery in H1 (January-June) 2022 as occupier sentiments were uplifted due to the relatively reduced severity of the Omicron wave, the subsequent relaxation of restrictions, and improved economic activity," Anshuman Magazine, Chairman & CEO -India, South-East Asia, Middle East & Africa at CBRE, said. He expected the annual office space absorption for 2022 to be higher than 2021. CBRE said that the absorption in H1 ...

Net leasing of office space down 26% in 7 cities in April-June: JLL India

Net leasing of office space fell 26 per cent during April-June across seven major cities to 8.5 million square feet as compared to the previous quarter due to lower supply, says JLL India.

Leased office space may rise 14% across 8 cities in CY22 : Cushman report

The demand for office space may rise 14 per cent this year to 60 million square feet across eight cities, mainly driven by strong rebound in Indian economy and aggressive hiring plans in IT/ITeS sector as well as startups, according to real estate consultant Cushman & Wakefield. As per the data, the gross leasing of office space across eight major cities increased to 52.57 million square feet in 2021 from 49.42 million square feet in the preceding year. The eight cities are Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Pune, Hyderabad and Ahmedabad. "India's journey towards a sizable USD 5 trillion economy holds within itself a plethora of opportunities for growth of commercial office market," said Badal Yagnik, MD, Tenant Representation, India, Cushman & Wakefield. He pegged annual leasing activity over the next two years at close to 60 million square feet each. "Key triggers driving this growth are a fast-growing economy, significant expansion foreseen in the ...

PE inflows to real estate sector shrank 32% in FY22, says Anarock

Sans portfolio deals, average ticket size reduced to $93 million

Office space leasing up 25% at 11 msf in March quarter: Knight Frank

Bengaluru remained the biggest market with total office space leasing of 3.5 msf of office space, followed by Delhi-NCR which recorded 2.3 msf of gross leasing in the first three months of 2022

Net office space leasing up 2% in 2021; down 45% from 2019 levels: Report

The net absorption of office space stood at 25.66 million square feet in 2020 and record 47.8 million square feet in 2019

'Office space leasing in 7 cities to reach 95% of pre-Covid level in FY23'

The increase in net leasing and steady rental collections, which had not fallen significantly, will ensure that the credit profiles of commercial real estate owners remain stable, Crisil said

Office space jumps 75% annually during Jan-Jun across seven cities

Realty firms remain bullish on revival in workspace demand, according to JLL India.

Flexible office space stock to grow 10-15% annually over next 3 years

India's flexible office space segment has a total stock of 36 million sq ft currently and is likely to grow 10-15 per cent annually over the next three years on rising demand from corporates

Office space supply in the top metros likely to drag down absorption

Supply may be double of demand by fiscal 2022-2023

WeWork eyes traditional companies, MNCs to hit profitability by 2021-end

Although the company is seeing demand gradually return to pre-Covid levels, it will still take up to the middle of next year for the demand to return to 65 per cent of pre-Covid occupancy levels

Covid: Housing sales down 43%, office space leasing fall 70% in July-Sept

India's top eight cities have witnessed 70% fall in gross office space leasing and 43% dip in housing sales during July-Sept quarter compared with the year-ago period on lower demand amid Covid-19

Office leasing drops 50% in Sep qtr, 47% in Jan-Sep in top 7 cities: Report

Net leasing of office space fell 50% across 7 top cities to 5.4 million sq ft as corporates and coworking players continued to defer their expansion plans due to Covid-19, according to JLL India

Office space leasing dips 36% in Jan-June across 7 top cities: Colliers

Majority of the deals expected to take place in the second quarter of 2020 were pushed to subsequent quarters, or are being reconsidered

Covid-19 impact: MNCs strike big rental deals despite work from home push

RMZ, one of the biggest owners of office properties in southern India, has done a handful of lease rental deals with global firms in recent weeks.

Lockdown 2.0: Office space leasing sees 37% fall on coronavirus outbreak

Companies deferred their decision to hire workspace amid global economic slowdown caused by Covid-19, according to Cushman & Wakefield.

Net office space leasing may fall 14% in 2020 on lower supply: JLL India

During 2019, the net office space leasing rose by 40 per cent to an all-time high of 46.5 million square feet as against 33.2 million sq ft in 2018.

DLF to invest Rs 13,000 cr to develop office spaces in Gurugram, Chennai

DLF has office spaces spread over 32 million sq.ft of area across Delhi NCR, Chennai, Hyderabad, Kolkata, and Chandigarh

Gross office space leasing up 25% in 2019 in 9 major cities: Report

Bengaluru, followed by Hyderabad, National Capital Region (NCR) and Mumbai dominated office leasing on an annual basis, accounting for almost 75 per cent of the overall leasing of office space