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Office space leasing hits record 31.8 mn sq ft in H1; attracts USD 1.5 bn capital: CBRE

Office space leasing hits record 31.8 mn sq ft in H1; attracts USD 1.5 bn capital: CBRE

Finance
BENGALURU: Office space leasing crossed 30 million square feet during the first half of 2019, up almost 40% compared to the same period last year, a historic high for the commercial real estate market in India. Leasing activity could surpass its previous peak of 2018 across nine cities, according to CBRE’s half-yearly India office market review. Bangalore, Hyderabad, National Capital Region and Mumbai accounted for about 80% of leasing in the first half, according to the report. Small and medium-sized transactions (less than 50,000 sq. ft.) dominated the office space take-up. Small-sized transactions (under 10,000 sq. ft.) accounted for about 31%, while mediumsized transactions (10,000-50,000 sq ft) had a 47% share, as per the report. The share of largesized deals (more than 100,000 sq. ft...
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...