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Office space leasing down 2% in top 7 cities during January-June: Colliers

Office space leasing down 2% in top 7 cities during January-June: Colliers

Finance
NEW DELHI: Office space leasing fell 2 per cent in January-June 2017 to 18.9 million sq ft in seven top cities but demand is expected to remain steady in the second half, according to property consultant Colliers. "The gross office take-up amounted to 9.6 million sq ft in Q2 2017 representing a nominal 2 per cent increase quarter- on-quarter from 9.3 million sq ft," Colliers India said in a statement. Total office absorption in H1 2017 stands at 18.9 million sq ft, marginally down by 2 per cent from the corresponding period of last year, it added. Colliers tracks seven office markets -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad and Pune. "Despite recent layoffs' alert by technology companies due to automation and changing technology, we expect the commercial market to...