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Real estate: Commercial office space absorption growth trebles in a year

ZeeBiz WebTeam | Dec 14, 2018, 10:42 AM IST

Net absorption in commercial office segment across India will exceed 39 mn sq feet by 2020 on the back of strong supply pipeline and stable vacancy levels, a JLL and Confederation of Indian industry report said

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Service providers

Service providers

3.44 mn sq ft: increase in absorption by service providers. (Pixabay)

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Space absorbed last year

Space absorbed last year

1.11 mn sq ft: of co-working space was absorbed last year. (Pixabay)

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Office market till 2020

Office market till 2020

38 to 45 mn sq ft: completion in the office market pan-India every year till 2020. (Pixabay)

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Vacancy in July-September

Vacancy in July-September

13.7%: to 30 bps decline in vacancy in the July-September quarter of this year. (Pixabay)
 

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Growth in last quarter

Growth in last quarter

14%: growth recorded in the preceding quarter due to higher demand and lower completions. (Pixabay)

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Co-working sector

Co-working sector

10%: rise in the share of coworking sector in total office leasing in the first nine months of 2018. (Pixabay)

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Figure in 2017

Figure in 2017

4%: the figure a year ago. (Pixabay)

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Same period, last year

Same period, last year

7%: the figure in the corresponding period of last year. (Pixabay)

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Mumbai's share

Mumbai's share

21%: Mumbai's share in total office leasing in co-working sector during January-September 2018. (Pixabay)

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Demand for co-working space

Demand for co-working space

40-45%: of demand for co-working space comes from corporates and large enterprises. (Pixabay)