A report by Cushman & Wakefield said that in 2022 and 2023, commercial office space leasing volumes can probably touch 60 million sq. ft. because of the aggressive hiring plans in the IT, ITeS.
Data showed that the gross leasing of commercial space in eight major cities has increased to 52.57 million sq. ft. in 2021. It was 49.42 million sq. ft. in the previous year.
Badal Yagnik, MD, Tenant Representative India said “India’s journey towards a sizable $5 trillion economy holds within itself a plethora of opportunities for growth of commercial office market,”
“India’s journey towards a sizable $5 trillion economy holds within itself a plethora of opportunities for growth of the commercial office market,” he added.
Reports explained that demand for six-feet offices would result in almost 25-30% more demand for commercial space occupied by the same number of companies.
Another major reason behind the increasing demand and growth is the continuous institutionalisation and influence of PropTech.
In 2021, $5.6 billion worth of private investment was received by the real state sector. Reports said one-fourth of investment was alone for the office sector.
Follow and Connect with us: Twitter, Facebook, Linkedin, Instagram
Buying a home is a significant milestone, but the hefty price tag isn't the only…
Tax lien certificates are those that are given to investors who demonstrate their interest in…
The Hindu Marriage Act of 1955 and the Hindu Succession Act of 1955, respectively, set…
Paying a house rent is an important and recurring monthly expense for an individual. Generally,…
Investing in real estate necessitates a lot of research, legwork, and hefty investments. Hence, a…
You're buying or selling a property – an exciting time filled with possibilities. But amidst…
This website uses cookies.