Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
BFSI and flex spaces drove 39% of India’s office space absorption in Q3 FY24, while IT-ITeS demand declined. Southern cities dominated, with Bengaluru leading at 36%. Pan-India vacancy dropped to 14.8%, and new completions rose 3%. Hyderabad topped new supply, reflecting robust growth amid evolving workspace trends and economic resilience.
READ MORETable Space has launched its first premium Suites in Hyderabad’s HITEC City, spanning 1,35,000 sq. ft with 2,200+ seats. The tech-enabled facility caters to enterprise demands for speed, flexibility, and security. Hyderabad’s growing flex space market underscores the city’s rising demand for Grade A workspaces, strengthening Table Space’s national presence.
READ MOREIn partnership with Tribeca Developers, the Trump Organisation will launch its first Trump-branded office complex in Pune by 2025, marking a shift from residential to commercial real estate in India. This expansion includes six new projects across major cities, reinforcing India as the largest hub for Trump properties outside the U.S.
READ MOREAccording to CBRE, office space supply in India’s top nine cities surged by 46% to 13.4 million sq ft in early 2019, led by Hyderabad’s unprecedented growth. With demand from corporates and coworking operators rising, developers are investing in flexible workspaces and SEZs to support expanding businesses and startups.
READ MOREIndia’s office space market is set for record growth in 2024, with projected absorption to exceed 70 million sq. ft., driven by high demand from IT-BPM, flexible workspaces, and BFSI sectors. Major cities like Bengaluru, Delhi-NCR, and Mumbai lead leasing activity despite slower new completions lowering vacancy rates.
READ MOREFor the first time since 2019, office rental prices across India’s six largest cities have exceeded pre-pandemic levels, according to a report by Colliers India. The report reveals a steady rise in average office rents, reaching Rs 101.3 per square foot in 2024, up from Rs 99.5 per square foot in 2019. This marks a
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