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Demand for co-working spaces surges due to flexible work, high realty costs

According to the 'India Real Estate Q3' report by Knight Frank, the country recorded office transactions of 16.1 million square feet during the July-September quarter

Industrial & Logistics sector leasing to touch 5-year high in 2023: CBRE

In the July-September quarter, Chennai recorded the highest absorption of 2.1 msf followed by Bangalore and Mumbai

Leasing of retail real estate space up 46% in Jan-Sep across 8 cities: CBRE

Leasing of retail space rose 46 per cent across eight cities in the January-September period to 4.73 million square feet on better demand from retailers, according to CBRE. The absorption of retail space stood at 3.23 million square feet in the year-ago period. The data is for absorption of retail real estate space in shopping malls, prominent high street locations and standalone retail properties. In terms of cities, Bengaluru, Delhi-NCR and Pune collectively accounted for a share of over 61 per cent in leasing activity during this period. Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa at CBRE, said, there has been a remarkable growth in retail absorption and supply addition. "With the surge in newly available spaces and the onset of the festive season, we anticipate a continued upswing in space utilisation," he said. Magazine said the retail sector is on the brink of a remarkable transformation, where retailers are keen on revamping the ...

CBRE sees 165 mn sq ft of new office supply in top 7 cities during 2023-25

Bengaluru and Hyderabad will contribute 49 per cent to the total upcoming office space supply of over 165 million square feet estimated during the 2023-2025 period across seven major cities, according to CBRE.. Real estate consultant CBRE South Asia on Thursday released its new report 'Office Myths Debunked'. As per the report, the office supply completions across seven major cities are expected to exceed 165 million square feet between 2023-2025, which is significantly higher than 142 million square feet recorded during the 2020-2022 period. Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said, The office sector in India is witnessing good growth momentum. The substantial supply completions across top cities in India is projected to exceed 165 million sq. ft. over 2023-2025, indicating a positive outlook for the office sector.". The average annual office supply increased by a robust 17 per cent and the average building size increased by

Green-certified office space jump 36% across top 6 cities since 2019: Study

Green-certified office space stock have increased 36 per cent to 342 million square feet across six major cities in the last three and half years, according to a CBRE-CII report. Real estate consultant CBRE and industry body CII on Wednesday released its report titled, 'Indian Real Estate: Taking Giant Strides - 2023 Mid-Year Outlook' at CII Realty conference here. According to the report, green-certified office stock stood at 251 million square feet in 2019. Enhanced focus on global and domestic Environmental, Social and Governance (ESG) regulations are driving occupiers' flight-to-quality wave towards modern, premium and sustainable spaces in the medium to long-term, the report said. Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said, "As the economy gains momentum and the real estate sector thrives, there is a growing emphasis on ESG and its compliance. We anticipate accelerated demand in modern, tech-enabled, and green-compliant ...

Residential sales in India poised to breach decadal high this year: CBRE

Led by demand for homes priced between Rs 1 crore and Rs 1.5 crore, the sale of 300,000 units this year is expected to be much higher than the five-year average of 187,000 units

Retail leasing up by 15% in megapolis in first half of 2023: CBRE Report

Increased leasing by homeware and department stores, consumer electronics and fashion & apparel retailers have pushed up retail leasing in the megapolis by close to 15 per cent in the first half of the year, says an industry report. Retail leasing across investment-grade malls, high streets and standalone developments during January-June 2023 rose 14.6 per cent in Mumbai, taking the total leasing to 0.21 million sqft, compared to 0.18 million sqft in the corresponding period last year, realty consultancy CBRE said in a note. Key sectors that drove absorption include homeware & department stores which snapped up 20 per cent of the total fresh leasing, followed by consumer electronics and fashion & apparel (17 per cent each) during the period under review, it said, adding the leasing demand was driven by secondary leasing in high streets and mall clusters. Some of the top leasing deals include a consumer electronics player leasing 20,800 sqft in Jio World Drive in BKC, ...

Led by Twamev, Apple, retail leasing in Delhi up 65% between Jan and June

At the end of 2023, retail leasing is expected to touch 5.5-6 million sq ft, the highest level after the 2019 peak of 6.8 million sq ft

Sales of luxury homes in India rose 130% in January-June period: CBRE

The surge in demand was primarily driven by a growing preference for enhanced amenities and more spacious living areas

Retail leasing in India jumped 24% between January and July: CBRE report

CBRE said that as more international brands aim to enter India, they are witnessing growing traction in the luxury segment

Bengaluru tops list of APAC cities with flexible office stock, Delhi third

New flex space supply in Delhi NCR and Bangalore accelerated from 2022, with the two cities witnessing the addition of a combined 3.1 mn sq ft of stock in the first three months of 2023

CBRE introduces integrated solutions for project management; hire 400 more

Real estate consultant CBRE India on Thursday said it has introduced an integrated solution, backed by data and latest technology, for project management and will hire around 400 employees this year in this new business line to provide better services to its clients. The company has been doing project management for more than two decades. It has offered services to more than 1,300 clients and managed over 1 billion square feet area. Now, it has launched an integrated platform, combining multiple services. In a press conference, CBRE announced the launch of a "new integrated, data & technology-led solution platform -- 'Development Solutions' under its project management business line". The company said the integrated solutions will help its clients -- developers and investors -- save up to 12 per cent project cost and also timelines by up to 5 per cent. CBRE India aims to capture 25-30 per cent market share in the next three years. "With Development Solutions, we have expanded our

As employees return to office, more companies opting for flexible offices

A survey by property consultancy CBRE revealed that 47% of companies want to increase the use of flexible office spaces over the next 12 months

EV firms need 13 mn sq ft real estate space by 2030 to meet output target

Electric vehicle manufacturers will need around 13 million square feet of real estate space by 2030 to make targeted 23 million units of two-wheelers and 4 million units of four-wheelers, according to CBRE. Real estate consultant CBRE South Asia released a report, 'Electric Vehicles in India - New Wheels on the Roads', on Thursday that focuses on the trends, growth, and influence of electric vehicles (EVs) on the real estate sector in India. "Real estate requirements of manufacturing facilities of 4-wheeler and 2-wheeler (4W and 2W) electric vehicles is estimated to be around 13 million square feet by 2030 as a result of the government's EV adoption targets," it said. Moreover, EV battery manufacturing facilities would require 2,400 acre of land to accommodate the production of 200 GWh of batteries by 2030. By 2030, this real estate requirement will allow a production capacity of about 4 million units of 4Ws and 23 million units of 2Ws. The Indian EV market is expected to grow at

India likely to see listing of 4 REITs in next 18 months: CBRE India head

REIT, a popular instrument globally, was introduced in India a few years ago to attract investment in the real estate sector by monetising rent-yielding assets

Luxury housing sales in Indian cities surge 151% in Q1 2023: Report

Delhi-NCR, Mumbai, Hyderabad, Pune and Kolkata lead in such property transactions

Sales of luxury flats soars 2.5 times across 7 cities in March quater

Sales of luxury residential properties -- each priced Rs 4 crore and above -- jumped 2.5 times to 4,000 units in January-March this year across 7 cities on strong demand for large apartments with better amenities, according to CBRE. In its report, real estate consultant CBRE said the sales of luxury homes stood at 1,600 units in the year-ago period. As per the data, sales of luxury flats in Delhi-NCR jumped over three-fold to 1,900 units in the March quarter from 600 units in the year-ago period. Sales of premium apartments in Mumbai increased to 1,150 units from 800 units. In Pune, sales stood at 150 units, a sharp jump from 10 units in the year-ago period. Bengaluru saw flat demand at 50 units. Sales of luxury homes doubled to 100 units from 50 units in Kolkata. Hyderabad witnessed more than eight-time rise to 430 units from 50 units. Sales of luxury apartments in Chennai rose five times to 250 units in January-March 2023 from 50 units in the corresponding period a year ago.

Luxury segment housing sales up by 151%, Delhi-NCR leads with 216% growth

The post-pandemic rise in ownership of luxury housing is believed to be a result of a changed mindset of the homebuyers

Real estate demand firm, retail leasing up by 130% YoY: CBRE Report

High-ticket projects that cost Rs 1.5 crore or more would continue to see high-demand. The impact of rising home loan interest rates is likely to be limited

Nearly 6,800 acre land acquired for $12.2 bn in 2018-22 for projects: CBRE

Nearly 6,800 acres have been acquired by real estate developers and investors for more than USD 12.2 billion during 2018-22 period to construct greenfield realty projects, according to property consultant CBRE India. The consultant released a report 'Indian Real Estate - Betting on a Capital Future' on Tuesday. "The land acquisition space has been buzzing with higher interest primarily from developers in the recent past. On a cumulative basis, nearly 6,800 acres of land have been acquired by developers and investors during 2018-22," the report said. The activity has especially accelerated in the past two years, with nearly 60 per cent of the land being acquired from January 2021 onwards. "The fact that 2022 was a landmark year in terms of land activity is indicative of the long-term bets that investors are willing to take on the real estate sector in India," said Anshuman Magazine, Chairman and CEO - India, South-East Asia, Middle East and Africa, CBRE. The report mentioned that o