Office space leasing dips 36% in Jan-June across 7 top cities: Colliers

Gross leasing of office space across seven major cities declined 36 per cent in the first half of this calendar year as corporates deferred plans to expand amid uncertainties over the Covid-19 pandemic, according to realty consultant Colliers.

"Office gross absorption across the top-seven cities touched 16.7 million sq feet, a drop of 36 per cent year-on-year, led by the coronavirus-induced economic slowdown and slow decision making by occupiers," Colliers International India said in a statement.

Majority of the deals expected to take place in the second quarter of 2020 were pushed to subsequent quarters, or are being reconsidered, it