COMMERCIAL REAL ESTATE OUTLOOK
- The Information Technology and Business Process Management (IT-BPM) sector led the office leasing market with 20 percent of total leasing across the top eight cities. The Banking, Financial Services and Insurance (BFSI) sector followed with a 15.4 percent share in office leasing.
- The absorption of leased manufacturing spaces increased to 6.6 million sq ft across the top eight metro cities. While Chennai led all cities with a 35 percent market share, Pune and Delhi NCR followed with 20 percent and 18 percent respective shares.
- Managed spaces remained predominantly popular and their occupancy space stood at 65 percent in the last one year. By the end of the year, the flexible workspace providers are likely to lease about 3 million sq ft of space across the top metro cities.