Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
Indian office REITs are thriving in 2025, driven by firm GCC hiring and increasing office space demand, according to Jefferies. Office vacancy rates have dropped, rentals are rising, and REITs outperform markets. A favourable interest rate outlook and tightening supply could further boost growth in the sector.
READ MORETrump World Center Pune, the Trump Organization’s first commercial project in India, will feature 1.6 million sq. ft. of premium office space. Developed with Tribeca Developers and Kundan Spaces, the ₹1,700 crore project is set for completion by 2029, addressing Pune’s rising demand for high-end business spaces.
READ MOREDanish multinational Topsoe has relocated its India operations from Faridabad to Noida, leasing 75,000 sq ft of managed office space at DLF Tech Park through Table Space. The move aligns with its sustainability goals and comes as Noida grows into a business hub, further boosted by the upcoming Jewar Airport.
READ MOREIn 2024, India’s real estate sector saw a significant transformation, with Rs 62,000 crore needed for land development, as per JLL. Developers acquired 2,335 acres across 23 cities, with Tier II and III cities gaining traction. Residential projects dominated while evolving financing strategies shaped the industry’s growth.
READ MOREIndian 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.
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