Co-working, tech firms drive office leasing in 2018
MNCs accounted for almost 75% in overall space take-up
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.