Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
Office space demand across Asia Pacific surged 15.9% to 8.8 million sqm in 2024, driven by corporate expansion, return-to-office trends, and global capability centres. India led in new supply, while overall vacancy remained stable. Colliers predicts continued growth and resilience in the APAC office leasing market in 2025.
READ MOREIndia’s commercial real estate is booming and driven by GCCs and startups. Co-working leader Awfis posted 41% growth in FY25, fueled by flexible workspace demand and an asset-light model. With rapid expansion and high returns, Awfis is reshaping India’s office space landscape in metro and tier-1 cities.
READ MOREAccording to Knight Frank India, NCR’s office market hit a record 12.7 million sq. ft. leasing in 2024, with deal sizes rising 29% YoY. Noida saw a 48% surge, while Gurugram remained dominant. Flexible workspaces grew 2.4x, reflecting the shift towards hybrid work and high-quality office space demand.
READ MOREIndia’s office market reached record highs in 2024, with 50 million sq ft net absorption and 79 million sq ft leased. Global Capability Centres (GCCs) led demand, accounting for 37% of activity. Bengaluru dominated with 28% absorption. Flexible space leasing surged 52%, reflecting India’s growing role as a global office hub.
READ MOREIndia’s office leasing hit 89 million sq ft in 2024, led by Bengaluru, Mumbai, and Hyderabad. Net absorption reached 50 million sq ft, driven by IT-BPM, GCCs, and flexible workspaces. Despite tight Grade A supply, demand remains robust, positioning India as a global leader in commercial real estate.
READ MOREKolkata’s office market hit record net leasing of 1.5M sq ft in 2024, driven by IT-BPO, BFSI, and consulting demand. Significant deals and robust 2025 supply pipelines position the city as a growing commercial hub, contributing to India’s 89M sq ft office leasing milestone across major cities.
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