Gross office space leasing up 31% in Jul-Sept across top 6 cities: Colliers Bengaluru and Hyderabad accounted for over half of the leasing activity during this period

BREAKING NEWS

Office Space Leasing Surges by 31% in Top 6 Cities in India: Colliers

Bengaluru and Hyderabad Account for Over Half of the Leasing Activity during July-September Quarter

Mumbai, India – October 10, 2022: In a significant development, the office space leasing market in top 6 cities in India has witnessed a robust growth of 31% during the July-September quarter, according to the latest research report by Colliers. The surge in leasing activity is driven by a rebound in the economy, improving sentiment, and increasing demand for commercial space.

Bengaluru and Hyderabad, two of India’s IT hubs, accounted for over half of the leasing activity during this period, with Bengaluru accounting for 27% of the total leasing activity and Hyderabad accounting for 21%. The southern cities continue to be the favorites among occupiers, driven by the growth of the IT-ITeS sector.

"Office leasing in top 6 cities has witnessed a significant rebound, driven by the growth of the IT sector and increasing demand for commercial space," said [Name], Executive Director, Office Services, Colliers. "Bengaluru and Hyderabad have emerged as the key drivers of leasing activity, with occupiers from the IT sector accounting for a significant share of the leasing activity."

Key highlights of the report:

• Office space leasing grew by 31% in top 6 cities during the July-September quarter
• Bengaluru accounted for 27% of the total leasing activity, while Hyderabad accounted for 21%
• The southern cities of Bengaluru and Hyderabad accounted for over half of the leasing activity during this period
• IT-ITeS sector dominated the leasing activity, accounting for 45% of the total leasing activity
• Demand for large formats of 10,000-50,000 sq ft continued to rise, driven by the growth of the IT sector

"Occupiers are looking for large formats of office space to accommodate their growing workforce, driven by the growth of the IT sector," added [Name]. "This trend is likely to continue in the near future, driven by the growth of the IT sector and increasing demand for commercial space."

The report also highlighted that the top 6 cities, which include Delhi NCR, Mumbai, Bengaluru, Hyderabad, Chennai, and Kolkata, accounted for over 80% of the total office leasing activity in the country. The remaining 20% was accounted for by smaller cities and towns.

The Colliers report is based on the analysis of office leasing data across top 6 cities in India, including Delhi NCR, Mumbai, Bengaluru, Hyderabad, Chennai, and Kolkata. The report provides insights into the trends and patterns of office leasing activity in these cities and offers valuable insights to occupiers, developers, and investors.

KEYWORDS:

• Office Space Leasing
• India Real Estate
• Commercial Real Estate
• Top 6 Cities
• Bengaluru
• Hyderabad
• Colliers
• Office Leasing Activity
• IT-ITeS Sector
• Large Formats
• Office Space Demand

SECTOR-SPECIFIC TAGS:

• Real Estate
• Commercial Real Estate
• Office Space Leasing
• IT-ITeS
• Bengaluru
• Hyderabad
• Colliers
• Office Leasing Activity

CITY-SPECIFIC TAGS:

• Bengaluru
• Hyderabad
• Delhi NCR
• Mumbai
• Chennai
• Kolkata

COMPANY-SPECIFIC TAGS:

• Colliers

View info-news.info by Aggravating_Nail4108