Tech Layoffs, Economic Slowdown Hamper Office Space Demand In India
The Statesman|April 03, 2023
Global economic slowdown, tech layoffs and hybrid work have impacted gross leasing of office space in India, as flexible office space providers share reached almost at par with traditional tech companies in the first quarter of 2023, a report has shown.
Tech Layoffs, Economic Slowdown Hamper Office Space Demand In India

Leasing by flex space operators in Q1 2023 inched closer to that of technology companies for the first time ever, according to the report by Colliers India.

Flex space occupiers leased 2.1 million square feet of space, accounting for 20 percent, a little behind the technology sector's share at 22 percent.

Together, both the sectors accounted for nearly 42 percent of the total leasing across top six cities.

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