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Retail Sector Leasing: Demand for retail spaces in recently completed malls played a significant role in shaping the overall retail space occupancy in 2023, and nearly 30 per cent share in total absorption was led by primary leasing in these malls. During the year, the retail sector in India witnessed a surge in leasing activity, with Mumbai and Pune recording 5-year high leasing at 1.0 and 0.8 million sq ft, respectively. Bangalore, Ahmedabad, Delhi-NCR, Ahmedabad, Kolkata and Hyderabad witnessed steady leasing activity, the CBRE report stated. ....
The city s investment-grade office stock surpassed 100 million square feet in 2022 and crossed 119 million square feet by the end of the Jul-Sep 2023, quarter, a significant increase of 63% from 73 million sq. ft. stock in 2019. Hyderabad stood among the top 3 cities dominating office space leasing in Jan-Sep23 at 6.6 mn. sq. ft., with 35% y-o-y, increase. Key sectors that drove absorption included Life sciences, BFSI and technology. ....
Global Capability Centres (GCCs), offshore units of multinational corporations with a global presence, are poised to be the primary drivers of office space occupancy in India. According to a report by CBRE, these centers are projected to lease between 60-62 million square feet of office space between 2023 and 2025. ....
India offers the best cost and talent attractiveness score among the top emerging GCC hubs including Brazil, Chile, China, Czech Republic, Hungary, Philippines, and Poland. By 2025, it is estimated that there will be 1900 operational GCCs in the country from the current 1580. Similarly, the number is expected to reach 3,000 by 2030 with GCCs employing over 3 million workforce, up from 1.3 million ....