Office absorption rose by 168% in Q3CY21, says Knight Frank report

Study says in Jan-Sept 2021, office markets had incremental activity of 13% by volume and 6% growth in new office completion over same period last year

About 12.5 million square feet of office spaces got absorbed in the third quarter of this calendar year, representing 168 per cent year-on-year growth, according to a new study.

The quarterly report released by Knight Frank says that between January–September 2021, office markets witnessed an incremental activity of 13 per cent by transactional volume and six per cent growth in new office completion over the corresponding period the previous year.

Corporate India's significant shift toward resuming work from office, the increasing rate of vaccinations and fewer restrictions on mobility have improved the business environment and aided recovery to market traction