Browsing Tag

Bengaluru office demand

2 posts
Office real estate

India’s Office Leasing Hits Record High in 2024 with 66.4 Million Sq Ft Activity

India’s office leasing market reached a historic high in 2024 with 66.4 million sq ft of activity, a 14% year-on-year growth. Bengaluru led the demand surge, recording 21.7 million sq ft of leasing. Flex spaces saw unprecedented growth, contributing 12.5 million sq ft, while Hyderabad and Mumbai crossed 10 million sq ft each for the first time.
new office supply

India’s Office Sector Achieves Record Leasing in Q3 2024, Vacancy Rates Hit Historic Low

India’s office sector saw record leasing activity in Q3 2024, with 24.8 million sq ft leased, a 66.4% YoY increase. Vacancy rates hit a historic low at 17.1%, driven by high demand from Global Capability Centers (GCCs) and the IT-BPM sector.