Office Leasing Crosses 30 Million Sq Ft in H1, 2019: CBRE

New Delhi: The office leasing activity reached historic high in the country in the first half of 2019 crossing 30 million sq ft mark, property consultant CBRE said in a report today.

 

Bangalore, Hyderabad, NCR and Mumbai together accounted for about 80 percent leasing in the country in the first half of the current year, CBRE South Asia Pvt Ltd said in the report. The share of SEZ spaces in overall space take-up increased from 26 percent to 29 percent during the period. This was mostly led by Bangalore, Hyderabad and Pune.

 

Increasingly, a larger number of global and domestic firms are positioning India as the destination for higher skilled requirements, either for their global operations (through Global In-house Centers – GICs) or for tech-driven services, rather than low-end processes. As a result, we anticipate that the share of tech corporates in overall office space take-up would remain strong in 2019, a trend already visible in the first half of the year”, said Anshuman Magazine, Chairman & CEO, South East Asia, Middle East and Africa – CBRE.

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