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Despite the downturn in the economy, eight cities have seen a 16 per cent jump in absorption of office properties in the first half of 2014, according to a new study by Cushman & Wakefield.
The total absorption the said period was 13.4 million square feet.
Though smaller in absolute absorption, Ahmedabad and Chennai saw the highest jump in absorption of office properties. They posted an increase of more than two times compared to the first quarter of 2013, said the study.
In terms of highest absorption, Bangalore came first at 2.6 million sq ft, ahead of the national capital region and Mumbai, the report said.
Hyderabad outperformed Mumbai, recording net absorption of 2.3 million sq ft compared to 1.9 million sq ft noted in Mumbai. Therefore, the top three performing cities during H1 2014 were Bangalore, Delhi-NCR and Hyderabad, representing 57 per cent share recording a total net absorption of 7.7 million sq ft, it said.
