Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
Bengaluru’s real estate market will grow in 2025, driven by northern and eastern micro-markets, improved metro connectivity, and strong residential demand. Developers embrace vertical growth while challenges like e-khata delays and approval timelines persist. Key projects by Shriram Properties and others highlight the city’s rising real estate momentum.
READ MOREWeWork India has leased 1.26 lakh sq ft in Mumbai’s Andheri East, expanding its portfolio to over 8 million sq ft across 62 locations. The move highlights India’s growing demand for flexible workspaces, driven by hybrid work models and rising commercial real estate momentum in key markets post-pandemic.
READ MOREDelhi-NCR’s office market surged in 2024, with 9.4 million sq ft net absorption and record-breaking 17.7 million sq ft gross leasing. Driven by Global Capability Centres, flexible workspaces, and technology, it contributed 15.4% to India’s 49.56 million sq ft absorption. Vacancy rates hit a three-year low, showcasing robust demand nationwide.
READ MOREGurugram’s office realty is surging with major leases, including Google’s 550,000 sq ft deal and IBM’s 260,000 sq ft space. Co-working operators like Smartworks are expanding rapidly. Factors like the return to office work, unicorn startups, and flexible workspaces are driving demand, reaffirming Gurugram’s status as a corporate hub.
READ MOREIndia’s office leasing hit 89 million sq ft in 2024, led by Bengaluru, Mumbai, and Hyderabad. Net absorption reached 50 million sq ft, driven by IT-BPM, GCCs, and flexible workspaces. Despite tight Grade A supply, demand remains robust, positioning India as a global leader in commercial real estate.
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