Office realty leasing rises 30 percent, on track to beat annual record

…nearly 23% on an annual basis. This was dominated by small- to medium-sized transactions. Small-sized transactions of less than 10,000 sq ft accounted for over 40% of the transaction activity in the quarter. 71641558 “ With office leasing scaling a historic high in 2019, we expect further strengthening of occupier sentiment in the medium to long term, backed by corporates looking to expand or consolidate their operations. Favourable government initiatives, transparency in the real estate sector and the right reforms will improve investor sentiment greatly in the coming quarters ,” said Anshuman Magazine, CEO, India, South-east Asia, Middle East and Africa, CBRE.Like last year, he expects occupiers would put in greater efforts to incorporate flexibility in their portfolios due to changes in the…

…companies (19%) and flexible space operators (15%). The rise in the share of flexible space operators (10% in the second quarter of 2019) was primarily a result of their continued expansion across almost all cities.“ The share of the tech sector rose from 31% to 40% annually during 2019 year-to-date, which implies that a rise in technology alternatives, insourcing / job preservation in the US and a global slowdown have not had any specific impact on India’s position as a preferred outsourcing destination for both high-skilled and low-skilled tech services, research and development ,” said Ram Chandnani, managing director, advisory & transaction services, India, CBRE South Asia.Supply addition rose by more than 80% in 2019 YTD on an annual basis, with about 43.5 million sq. ft. of development…