In 2017, nearly 11.1 million sq. ft. of office supply will be completed in Bangalore, 50% of which will be concentrated in the ORR belt with the remainder of the supply to be spread across Whitefield, North Bengaluru and Electronic City, said a recent report by Colliers international.
Although the future supply pipeline looks substantial in most micro markets, steady occupier demand and absorption of pre-committed space should keep vacancy levels low.
“Overall, strong demand fundamentals coupled with evolving transparency in the real estate sector should stimulate investors’ interest and provide further support to the already strong o ce leasing market in Bengaluru,” said the report.
The report mentioned government initiatives to expedite metro construction in ORR and Whitefield should also reinstate occupier confidence in these micro markets, the report stated.
Read more: The Economic Times