Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
India’s green building footprint has reached 10.25 billion sq ft, driven by sustainable real estate practices. With innovations like Net Zero Energy Buildings and advanced water recycling, developers are aligning with ESG goals. Green-certified spaces are reshaping urban growth, attracting global investors, and promoting cost-efficiency, resource conservation, and environmental responsibility.
READ MOREIndia’s Grade A office leasing surged 23% in the first three quarters of 2024, totalling 46.7 million sq ft. Bengaluru and Hyderabad led the market, with significant technological and BFSI sectors demand. Large deals dominated leasing, while flex space operators accounted for 20% of overall demand.
READ MOREIndia’s Global Capability Centers (GCCs) are set to occupy 26 million sq ft of office space by 2027. With 6,667 deals from 2018-2023, GCCs are crucial to India’s innovation landscape. Projections show that 1,900 centres will be built by 2025, driven by the IT/ITeS, BFSI, and consulting sectors, highlighting India’s global strategic importance.
READ MOREKnight Frank said India’s flexible office space sector has attracted $820 million in private equity funding since 2017. The sector grew strongly despite pandemic-related fluctuations, with a 22% CAGR and 52.9 million sq ft leased. Demand for flexible workspaces is driven by corporate focus on employee well-being and innovation.
READ MOREIndia’s flexible workspace market is set to double by 2028, reaching 126 million sq ft. The sector will see revenues soar to $9 billion, driven by remote work trends. Major operators like WeWork India and Awfis are leading this growth, attracting diverse investors and eyeing public listings.
READ MOREIndia’s coworking sector is booming, driven by hybrid work models, rising office rents, and IPO activity. Awfis, Smartworks, and DevX lead the IPO wave, while expansion into Tier-II and Tier-III cities signals future growth. Flexible workspaces now account for 15% of leasing, with demand projected to grow 60% by 2028.
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