Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
Global Capability Centers (GCCs) drive 37% of India’s office leasing, attributed to BFSI and technology firms. Bengaluru, Pune, and Hyderabad lead in leasing, highlighting strategic importance. Diversified tenant demand and flexible office spaces indicate continued growth in India’s commercial real estate.
READ MOREA CBRE survey predicts a significant rise in flexible office spaces, with 58% of companies expected to expand their portfolios by 2026. Driven by robust occupier activity and an increasing preference for flexible arrangements, the trend sees domestic firms leading over American corporations. This strategic shift aims to accommodate growing workforces and enhance operational efficiency.
READ MOREFour major MNCs, including Qualcomm and IBM India, have leased over 870,000 sq. ft. of office space in Hyderabad’s booming IT sector. This surge reflects the city’s robust real estate market and infrastructure development. Hyderabad is solidifying its position as a premier business hub with strong residential and commercial growth.
READ MORESouth India, led by Bengaluru, Hyderabad, and Chennai, drives India’s office property market recovery. These cities account for nearly 60% of space demand by 2025, fueled by the tech sector and global capability centres. The office market is booming, with significant growth and large leasing deals expected throughout 2024.
READ MOREIndia’s Grade A office space demand is set to exceed 70 million square feet in 2024, driven by major cities like Bengaluru, MMR, and Delhi-NCR. Rising rentals and large leases, especially in the IT/ITeS and BFSI sectors, highlight robust growth, signalling significant opportunities for developers and investors.
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