Commercial office space absorption growth trebles in a year

Net absorption in commercial office segment across India will exceed 39 mn sq ft by 2020 on the back of strong supply pipeline and stable vacancy levels, a JLL and Confederation of Indian Industry report said

3.44 mn sq ft – increase in absorption by service providers

1.11 mn sq ft – of co-working space was absorbed last year

38 to 45 mn sq ft – completion in the office market pan-India every year till 2020

13.7% – to 30 bps decline in vacancy in July-September quarter of this year

14% – growth recorded in the preceding quarter due to higher demand and lower completions

10% – rise in the share of co-working sector in total office leasing in the first nine months of 2018

4% – the figure a year ago

40-45% – of the demand for co-working space comes from corporates and large enterprises

21% – Mumbai’s share in total office leasing in co-working sector during January – September 2018

7% – the figure in the the corresponding period of last year