Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
India’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.
READ MOREIndia’s real estate market is projected to reach $10 trillion by 2047, contributing up to 20% of the nation’s GDP. Rapid urbanisation, foreign investments, and technological advancements will fuel growth. Sustainability and PropTech will play pivotal roles, with reforms like RERA and REITs driving future Expansion.
READ MOREIndia’s office space demand reached 46.7 million sq ft in the first nine months of 2024, with Bengaluru and Hyderabad leading the leasing activity. Flex spaces and large enterprises drove the surge, while new supply increased by 33% year over year. The tech and BFSI sectors also contributed significantly to the growth.
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