Page 10 - Workplace

Workplace leasing increases by 15% in first 9 months of this year: Report

Office space leasing increased by 15 per cent in eight cities to 33.3 million sq ft during January-September this year driven by higher demand from corporates and co-working operators, property consultant Cushman & Wakefield (C&W) said Thursday. The office space absorption stood at 29 million sq ft during the year ago period in eight cities -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Pune and Ahmedabad. The consultant said leasing could touch a record 50 million sq ft this calendar year. It expected absorption in the current quarter to remain strong like July-September period, during which 18.5 million sq ft space were leased. "2018 progresses on a note of exciting developments in office sector leasing. The compass for office space demand points north, for it is forecasted to spike to an unparalleled 50 million sq ft in the next few months, which surpasses records," C&W India Country Head and MD Anshul Jain said. He said, flexible workplaces was an ...

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