Page 5 - Office Space Leasing

Lower supply and subdued demand drag office space leasing by 10% in Jan-Mar

Net office space leasing declined by 10 per cent in eight major cities during January-March at 5 million sq ft mainly on lower supply and subdued demand from IT industry, property consultant Cushman & Wakefield today said. In the first quarter of 2017, net office space absorption stood at 5.52 million sq ft in eight cities - Ahmedabad, Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai and Pune. Supply of office space declined 14 per cent to 5.38 million sq ft in January-March 2018 as against 6.24 million sq ft in the year-ago period, Cushman & Wakefield (C&W) said in a statement. "We are likely to see sustainable leasing this year as the impact from Brexit, GST has dissipated and corporates are now firming up their growth plans. We expect leasing by pharma and healthcare, BFSI and co-working sectors to flourish in 2018," C&W India Country Head & MD Anshul Jain said. As per the data, leasing of office space rose 40 per cent to 1.65 million sq ft in Bengaluru

Office space leasing drops 7% in 2017 to 30.57 mn sq ft: C&W report

Despite a global economic slowdown, the country's commercial real estate saw a net absorption of nearly 30.57 million sq ft of office space in top eight cities in 2017 indicating growing investor confidence in India's growth story, according to a survey. According to the survey by Cushman & Wakefield, the net absorption of office space in 2017 dropped by seven per cent to 30.57 million sq ft as compared to 32.85 million sqft last year. The total supply also dropped by 11 per cent this year to 32.20 million sq ft as against 36.34 million sq ft in 2016. "Office leasing trends have been positive in the second half of 2017 as global and national uncertainties settled. By the second half, it was clear that impact of events such as Brexit, US Fed rates revisions, GST implementations and RERA, were going to be minimum on growth of commercial real estate sector of the country," Cushman & Wakefield country head and MD, India Anshul Jain said. Even while the GDP growth ...

Real estate demand slowdown: Office space leasing down 7% in Jan-Sep

Net absorption of office space stood at 19.63 million sq ft during January-September of 2016

Chennai, Hyderabad office leasing volumes rise

Leasing volumes jumped over 2.5 times in Chennai in H12017 at 4.30 million sq ft

Leased office space in top 8 cities up 28% to 10 mn sq ft in Q1: CBRE

Report tracks 8 cities - Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Pune, Hyderabad and Kochi