Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
US companies are leasing record office space in India, led by the growth of the Global Capability Centre (GCC). Bengaluru, Hyderabad, and Delhi-NCR are top choices, with firms viewing India as a key innovation and operations hub. Leasing volumes rose 16%, highlighting India’s strategic role in global corporate expansion plans.
READ MOREIndian companies now account for 46% of office leasing in India, up from 35% pre-2020, driven by BFSI, manufacturing, and tech sectors. A JLL report highlights record-high leasing in 2024 and Q1 2025, with Delhi-NCR and Mumbai leading the surge. Leasing volumes may cross 100 million sq. ft soon.
READ MOREIndia’s office leasing reached 19.46 million square feet in Q1 2025, driven by strong domestic and global demand. Bengaluru led leasing activity, with flex spaces dominating key cities. Net absorption surged 54%, while vacancy rates dropped to a four-year low, signalling a bullish outlook for the sector.
READ MOREForeign companies drove 62% of India’s office space leasing in Q1 2025, renting 111.6 lakh sq ft across nine major cities, says CBRE. Total leasing rose 5% year-on-year, led by demand from Global Capability Centres and a growing focus on sustainable, employee-centric workspaces.
READ MOREAccording to Colliers, Delhi NCR and Bengaluru led India’s office leasing surge in Q1 2025, contributing to a 15% YoY growth. Strong demand, especially from tech, BFSI, and manufacturing sectors, outpaced supply, driving rentals up 8%. Flex space leasing grew 22%, signalling continued commercial real estate market expansion.
READ MOREIndia’s office space supply reached a record 515 lakh square feet in 2024, with leasing activity hitting 707 lakh square feet, driven by demand from IT-ITeS and global capability centres. While Chennai’s supply declined, Hyderabad, Bengaluru, and Delhi-NCR saw significant growth. The IT sector continues to lead leasing activity.
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