Propstack Insights: Office Supply Review
The office construction completions slows in 2017, with 20.68 msf delivered across cities, down by 17% compared to 2016. *Grade A office data only For more details login to office.propstack.com
Tag Archives: ITeS Offices
Propstack Insights: Propsense Q4 2017 Released
Propsense Q4 2017 Released Gross Absorption was 15.7 msf spread across 444 msf of total stock across the top 7 Indian cities. Cumulative Vacancy for these cities was 12.2% during end of the quarter. To know more about major deals, transacted rates, net absorption and micromarket level statistics for the top 7 cities login to office.propstack.com *Grade A office data only
As companies expand, office space is attracting investment in India
The Asian market is driving global economic growth and India is emerging as the world’s preferred outsourcing hub. According to the CBRE 2017 Asia Pacific Occupier Survey report released last week, multinational as well as Asia Pacific-based companies have aggressive expansion plans for India and China over the next three years. Interestingly, in the Asia… Read More »
Information technology sector dominates office space leasing in 2016: Propstack
Occupants from information technology sector dominated the office space leasing in 2016 across the country with over 51% of total deals concluded by them, said commercial realty data information and analytic firm Propstack. These deals for grade A office spaces also include transactions of IT-enabled services companies too. “IT companies continued to drive home the… Read More »
Pan-India office space vacancy lowest in 8 years
The pan-India office space vacancy in 2016 at 15 per cent was the lowest in eight years. The sharpest decline in pan-India office vacancy was seen between 2013 and 2016 when it went down from 18.5 per cent to 15 per cent. “On the back of positive office space demand from sectors such as manufacturing,… Read More »
Kochi to become country’s next IT hub: CBRE
In a report that could bring cheer to techies in Kerala, real estate consultant CBRE has termed Kochi an emerging IT destination in the country. According to the report, the growing demand for office space, especially in the IT sector, is a clear sign the city is all set to become the next technology hub.… Read More »
Global uncertainty, tech disruptions may hit IT firms’ office space demand in 2017
Real estate requirements from software firms—the biggest occupiers of commercial office buildings in emerging markets like India— slowed down in 2016 and may further get impacted this year due to global uncertainty and growing technological disruptions, said the top executive of global consultant JLL Inc. In an interview with Mint, Christian Ulbrich, global chief executive… Read More »
Microsoft close to leasing 6 lakh sq ft office space in Bengaluru with Prestige Group
Microsoft is close to signing a nine-year lease deal with Prestige Group for a 600,000 sq ft office space in Bengaluru, three people aware of the development said. “The deal is in the final stage of closure,“ they said, adding that the lease is renewable every three years. The Redmond-based technology company , which currently… Read More »
Cognizant renews office lease at Blackstone’s IT park in Pune
The Indian arm of US-based Cognizant Technology Solutions has renewed the lease on its office space in the Blackstone Group-owned IT park in Pune, said two people familiar with the development. The deal is the first major office space transaction this year. Following the renewal of the lease of 2.6 lakh square feet of office… Read More »
Indian IT pins hopes on SmartCity Kochi
Work on a Dubai-owned IT park in Kerala in south India is ploughing ahead, despite the severe uncertainty and challenges that India’s IT sector is facing, according to a top executive behind the project. Development of the next phase of SmartCity Kochi, one year after its opening, is under way, with new offices due to… Read More »