Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
Indian real estate developers acquired nearly 6,000 acres for Rs 90,000 crore between 2022 and 2024, signalling strong market confidence, according to JLL India. In 2024 alone, 2,335 acres were bought for Rs 39,742 crore. While Tier I cities led acquisitions, Tier II and III cities gained traction, highlighting emerging market potential.
READ MOREHyderabad’s office space absorption grew by 7% in 2024, reaching 7.5 million sq. ft., driven by Grade-A micro-markets. Despite rental growth, supply constraints pushed vacancy rates to a record 26.5%. The IT-ITeS sector saw a slight dip, while BFSI and coworking expanded. NCR led with a 61% surge in net absorption.
READ MOREThe Delhi-NCR office market saw a 61% surge in demand in 2024, driven by GCCs and the tech sector. Co-working spaces gained traction, while office rentals rose 5%. Despite a 22% drop in new supply, vacancy rates fell. Noida led rental growth, keeping NCR a key business hub.
READ MOREEFC (I) Ltd has expanded its serviced office portfolio with a 26,500 sq. ft. acquisition in Pune, adding 600 seats. This move strengthens its leadership in India’s managed office sector. With substantial financial growth, the company continues to attract investors, offering competitive returns and expanding its market presence.
READ MOREIndia’s real estate market is set for substantial growth, projected to reach $603.4 billion by 2033 at a CAGR of 9%. Key drivers include urbanization, rising incomes, government initiatives, and increased foreign investments. Demand for flexible workspaces and sustainable properties also shapes the industry’s future.
READ MOREIndia’s real estate sector saw an 88% investment surge in H2 2024, reaching $3 billion, driven by office and industrial growth. Foreign capital comprised 57% of inflows, with Mumbai as a key hub. Experts cite strong economic growth and policy measures as catalysts for continued investment momentum into 2025.
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