Office leasing to hit record 70 mn sq ft in 2024
The Business Guardian|October 05, 2024
India's office leasing market is projected to achieve a record high of nearly 70 million sq.ft. in 2024, driven by the expansion of Global Capability Centres (GCCs), according to a report by CBRE.
Office leasing to hit record 70 mn sq ft in 2024

GCCs are expected to account for 35-40 per cent of the total office leasing activity across India's top nine cities.

Bengaluru continues to lead office space absorption, accounting for 30 per cent of total leasing from January to September 2024, followed by Delhi-NCR and Hyderabad with 14 per cent each, Chennai with 13 per cent, and Mumbai and Pune contributing 12 per cent each.

Bengaluru, Hyderabad, and Pune also dominated supply additions, collectively representing 63 per cent of new office space during this period.

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