Co-working, tech firms drive office leasing in 2018

Office leasing activity is expected to remain stable in the short term, backed by corporates looking to expand or consolidate their operations, property consultant CBRE said in a report

47.4 million square ft – increase in gross leasing of office space in 2018 across nine major cities

16 million square ft – of pre-leasing activity recorded last year

17% – jump in supply of office space to 34.9 million square ft

80% – office leasing space dominated by NCR, Hyderabad

34% – share of tech sector in overall space absorption

32% – share of tech sector in overall space absorption in 2017

MNCs accounted for almost 75% in overall space take-up

Similar to last year, we expect that occupiers would put in greater efforts to build in flexibility in their portfolios due to changes in the business environment," 
— Anshuman Magazine, India head, South East Asia, Middle East and Africa, CBRE.