[INDIA REAL ESTATE NEWS] Good morning everyone I am Sankhraj from KI-KME. Here I have important INDIA economic news to share with you which is as mention under.|
MUMBAI: Flexible workspace leasing in 2019 touched an all-time high of 10.8 million sq. ft, up 26% from a year ago led by technology adoption, increased occupancy rates and growing investments. Among the key markets, Bangalore and Hyderabad accounted for about half of the flexible space take-up in India.
The overall stock in flexible space market saw a historic increase of about 60% from around 19 million sq. ft in 2018 to touch 30 million sq. ft in 2019. The flexible space stock was mainly dominated by Bangalore, followed by Delhi-NCR and Mumbai, showed a CBRE South Asia report.
The uptake in the flexible space leasing in 2019 was dominated by hybrid spaces and managed space (77%) followed by co-working and business canters (23%).
“In today's dynamic & technology driven business environment, corporates are beginning to explore various workplace solutions which could result in capex reduction and increased agility of their real estate portfolio in the sector. Given the overall performance of the sector, we expect the demand to remain steady with an overall stock of flexible space anticipated to cross 40 million sq. ft by the end of 2020,” said Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE.
Read more at: https://economictimes.indiatimes.com/wealth/real-estate/flexible-space-leasing-touches-all-time-high-of-10-8-million-sq-ft-in-2019-report/articleshow/74472523.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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