Office space leasing up 25% at 11 mn sq ft in Jan-Mar 2017: CBRE

Tech companies led office space take-up during the quarter with a 25% share, while BFSI firms garnered a 24% share

The first quarter of the current calendar year witnessed 25 per cent jump in absorption of office properties on a yearly basis at 11 million sq ft, said a new report. 

This is a departure from the norm as the first quarter of the year usually witnesses subdued activity because corporates are still finalizing their business strategies. During the January to March quarter of 2017, Bangalore reported the highest demand for office space and accounted for more than the combined share of the markets of Delhi-NCR, Mumbai and Hyderabad, said a report from property consultant CBRE.

In line