Mumbai office April-June space leasing up 21% on-quarter

Mumbai office property market witnessed a 21% on-quarter rise in leasing activity at 1.4 million sq ft in the quarter ended June, said a property consultancy in a report. Demand for office space was largely concentrated across peripheral micro-markets. Majority of office space demand in the city was led by corporate occupiers from the BFSI sector, followed by the pharmaceuticals and engineering sectors. On the supply front, the city saw over 2 million sq. ft. of new office space entering the market during the quarter. Mumbai office market saw take up of around 2.6 million sq ft during January to June 2016, corporate space demand having remained stable over first half of 2015, , said the report.

Read more: Economic Times