Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
Delhi-NCR has surpassed Bengaluru as India’s top flex office market, securing a 42% share in leasing. NCR is driving India’s flex office boom with strong corporate demand, premium infrastructure, and expanding green-certified workspaces. Its continued growth signals a shift toward hybrid work models and sustainable commercial real estate.
READ MOREWoCO has unveiled WoCO One, a luxurious and sustainable commercial space in Gurugram. Combining cutting-edge technologies, eco-friendly designs, and a prime location, WoCO One sets a new benchmark in workspace leasing, offering modern businesses a blend of innovation, sustainability, and luxury in a prestigious environment.
READ MOREDelhi-NCR is witnessing a surge in demand for office space, with MNCs leasing nearly 51 lakh square feet in the past two years for Global Capabilities Centres (GCCs), marking a 4% annual growth, with India’s growing economic influence attracting GCCs across multiple sectors like engineering and manufacturing.
READ MOREChennai’s office space market is expected to exceed 100 million square feet by 2026, up from 89 million sqft. Industry policies, investments, and growing sectors like BFSI, life sciences, and GCCs drive this growth. The life sciences sector saw a 60% increase in space absorption in 2024.
READ MOREGCCs lease 37% of office space in the top 7 cities, with demand set to grow. Bengaluru leads, followed by opportunities in Tier 2 & 3 cities, fueled by government support. Increased leasing and hiring will drive office space demand to 200-225 million square feet by 2030.
READ MOREIndia’s Global Capability Center (GCC) sector is expanding rapidly, with 24 centres surpassing $1 billion in export revenue in FY 2023-24. This growth is set to continue, with projections reaching $90 billion by 2028. GCCs are shifting from cost management to driving top-line growth through innovation and AI.
READ MORE