Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
India’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 MOREBengaluru led India’s office leasing surge in 2024, with a 56% YoY growth, absorbing 16.4 million sq ft from January-September. Across nine key cities, total office leasing hit 53.8 million sq ft, driven by tech, e-commerce, and flexible space operators. Office leasing is projected to reach 70 million sq ft by year-end.
READ MOREDev Accelerator Limited is set to expand its coworking spaces through a new IPO, offering 2.47 crore equity shares. The funds will be used to set up new spaces, repay debts, and general corporate purposes. After turning profitable in FY24, the company aims to solidify its position in the flexible workspace market.
READ MOREiSprout has expanded its Hyderabad presence by leasing an additional 1 million sq ft of premium office space across SAS iTower, iSprout Tower at Minaas, and Trendset Jayabheri Connect. This brings their total managed space in the city to 1.7 million sq ft, strengthening their leadership in innovative, tech-driven work environments.
READ MOREIndia’s office space absorption rose by 14% in Q3 2024, reaching 12.16 million sq ft across seven major cities, led by Bengaluru. While most cities saw growth, Hyderabad and Kolkata experienced declines. Overall, office demand remains strong, driven by corporate expansion and economic recovery, with 31.03 million sq ft absorbed year-to-date.
READ MOREThe pivotal role of UI/UX design in the real estate market focuses on streamlining property searches, enhancing user engagement, and simplifying complex processes. With mobile optimisation and transparency as key factors, UI/UX design has become a crucial tool for real estate platforms to boost user satisfaction and build trust.
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