Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
Knight Frank said India’s flexible office space sector has attracted $820 million in private equity funding since 2017. The sector grew strongly despite pandemic-related fluctuations, with a 22% CAGR and 52.9 million sq ft leased. Demand for flexible workspaces is driven by corporate focus on employee well-being and innovation.
READ MOREIndia’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 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 MOREFlexible office spaces in India have exceeded 80% occupancy, with cities like Mumbai and NCR leading the way. Cost benefits, ESG compliance, and expansion into Tier 2 cities drive growth. Flex spaces offer affordability, adaptability, and sustainability, making them a strategic choice for startups and large corporations.
READ MOREThis article explores how CRE Matrix addresses key challenges in India’s commercial real estate market, such as lack of transparency and data fragmentation. It highlights the rise of flexible workspaces, sustainability trends, and the growing importance of data-driven decision-making in shaping the industry’s future.
READ MOREIn Q3 2024, office space absorption in India’s top six cities surged 31% year-on-year, driven by large deals in Bengaluru, Hyderabad, and Pune. The tech and BFSI sectors led demand, with 17.3 million sq ft leased. New Grade A office supply also grew by 33%, reflecting a strong market recovery.
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