Foreign Firms Drive 62% Of Office Space Demand In Major Indian Cities: CBRE Report
Global corporates accounted for 62% of office space leasing.
(Source: Unsplash)
Foreign companies rented 111.6 lakh sq ft office space in January-March this year across nine major cities, contributing 62% to the total demand, according to CBRE. Real estate consultant CBRE data showed that the gross leasing of office space rose 5% to 180 lakh sqft in January-March across nine cities as against 171 lakh sqft in the year-ago period.
Global corporates accounted for 62% of office space leasing.
Out of 180 lakh sqft gross leasing of office space, foreign firms rented 111.6 lakh sqft while domestic firm 68.4 lakh sqft.
These nine cities are -- Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, Ahmedabad, and Kochi.
Anshuman Magazine, chairman and chief executive officer -- India, South-East Asia, Middle East and Africa, CBRE, said, "India's office sector is on a solid trajectory for sustained leasing growth, driven by strategic expansions from both domestic and global occupiers."
Established hubs like Bengaluru, Hyderabad, Delhi-NCR, and Mumbai continue to lead, while cities like Chennai and Pune are gaining traction due to a strong talent base and a well-positioned supply pipeline, he added.
"As businesses seek quality workspaces, the demand for sustainable offices is rising, with occupiers prioritizing employee experience and long-term growth. A key factor shaping this momentum is the growing presence of Global Capability Centres," Magazine said.
