Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
India’s office market thrives in 2024, with leasing surpassing 47 million sq ft by Q3 and flex spaces rising to 20% of demand. Tier-II cities gain traction, rentals grow by 5-10%, and sustainability drives new developments. Projections for 2025 include solid growth, GCC expansion, and broader sector participation.
READ MOREA new report reveals that over 80% of Indian office occupiers plan to adopt flexible office spaces. Key drivers include cost efficiency, hybrid work models, and enterprise-grade amenities. Flex spaces are increasingly used for core operations, with longer lease commitments expected. Prime locations remain a priority for businesses.
READ MOREIndia’s office market set new records in H1 2024, with 33.5 million sq ft of leasing across top cities. Bengaluru and Delhi-NCR led the surge, which was driven by the high demand for flexible office spaces. Key sectors like tech and finance boosted growth, reflecting robust confidence in the commercial real estate sector.
READ MOREIndia’s office leasing hit 66.4 million sq ft in 2024, led by Bengaluru, Hyderabad, and Mumbai. Flexible workspaces saw a 45% growth, contributing 20% to demand. Tech, BFSI, and large deals drove leasing while steady supply kept vacancy stable. Experts predict sustained momentum in 2025 and beyond.
READ MOREIndia’s Grade A office space demand is set to exceed 70 million square feet in 2024, driven by major cities like Bengaluru, MMR, and Delhi-NCR. Rising rentals and large leases, especially in the IT/ITeS and BFSI sectors, highlight robust growth, signalling significant opportunities for developers and investors.
READ MOREThe landscape of workplace design in India is undergoing a profound transformation, influenced by global trends towards sustainability, innovative design, and technology.
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