Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
COWRKS has leased 1.4 lakh square feet of office space in Mumbai and Bengaluru, enhancing its footprint to 15 lakh square feet. The new centres cater to the growing demand for flexible workspaces featuring modern designs and amenities. COWRKS now operates 34 centres across six cities.
READ MORECoworking firm Incuspaze has leased 1.15 lakh square feet in Bengaluru’s Whitefield to open a facility with 1,800 seats. This expansion supports their growth strategy amid rising demand for flexible workspaces in southern India, including Chennai and Hyderabad.
READ MOREKolkata’s office space leasing surged 33% in Q2 2024, reaching 0.4 million sq ft, driven by the tech and BFSI sectors. H1 2024 saw a 23% rise in office transactions and a 6% rent increase. Despite recent stamp duty changes, residential sales grew 25%, with 9,130 units sold.
READ MOREMumbai’s office market saw a 79% year-on-year growth in H1 2024, with transactions reaching 5.8 million sq ft and new completions rising by 205%. Average office rents increased by 4%, reflecting strong demand. The residential market also thrived, with a 16% increase in sales and a 4% price rise.
READ MOREIndia’s office space demand hit a record 33.54 million sq ft in H1 2024, a 29% increase year-on-year. Bengaluru led the surge, with flexible workspaces driving growth. Despite leasing highs, office space investments fell 83% in Q2 2024. JLL projects record leasing of 65-70 million sq ft for 2024.
READ MOREBengaluru’s office space is projected to reach 330-340 million sq ft by 2030, driven by technology, engineering, and BFSI sectors. Currently, at 223 million sq ft, the city leads India in office absorption. Enhanced infrastructure and emerging areas boost growth, while warehousing space hits a record 54 million sq ft.
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