Real estate: Commercial office space absorption growth trebles in a year
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
Service providers
3.44 mn sq ft: increase in absorption by service providers. (Pixabay)
Space absorbed last year
1.11 mn sq ft: of co-working space was absorbed last year. (Pixabay)
Office market till 2020
38 to 45 mn sq ft: completion in the office market pan-India every year till 2020. (Pixabay)
Vacancy in July-September
13.7%: to 30 bps decline in vacancy in the July-September quarter of this year. (Pixabay)
Growth in last quarter
14%: growth recorded in the preceding quarter due to higher demand and lower completions. (Pixabay)
Co-working sector
10%: rise in the share of coworking sector in total office leasing in the first nine months of 2018. (Pixabay)
Figure in 2017
4%: the figure a year ago. (Pixabay)
Same period, last year
7%: the figure in the corresponding period of last year. (Pixabay)
Mumbai's share
21%: Mumbai's share in total office leasing in co-working sector during January-September 2018. (Pixabay)
Demand for co-working space
40-45%: of demand for co-working space comes from corporates and large enterprises. (Pixabay)