Page 3 - Office Spaces
350 mn sq ft office space worth $60 bn to get SM-Reit listing by 2026: CBRE
Around 350 million square feet of prime office space, valuing more than USD 60 billion, will become eligible by 2026 to get listed as Small and Medium Real Estate Investment Trusts (SM-REITs), according to CBRE. In March, capital markets regulator Securities and Exchange Board of India (Sebi) notified the framework for SM-REITs. At present, there are no listed SM-REIT in the country. Real estate consultant CBRE on Thursday released its report titled, 'Navigating the SM REIT Landscape - A Look at Regulations and Implications'. As per the report, the total completed office stock in India currently stands at over 800 million square feet, of which REIT-listed office inventory is over 88 million square feet. "The potential market for SM-REITs in India covers over 300 million square feet of completed commercial space, besides an additional 50 million square feet of space expected to be completed by 2026. This translates into an estimated market size of over USD 60 billion," the consultan
Demand for office spaces to continue rising in country: Senior JLL exec
India's skilled workforce and rise of global capability centres helping demand for commercial real estate, says Karan Singh Sodi
Flex spaces record their highest contribution to office leasing in India
In the last five years, the total footprint of flex space operators in India has doubled owing to high demand as well as supply, according to Cushman & Wakefield
Embassy Reit leases 800k sq ft space to Commonwealth Bank of Australia
Embassy Office Parks REIT has signed an agreement to provide on lease 8 lakh square feet prime office space in Bengaluru to global banking major Commonwealth Bank of Australia, with an option to expand leasable area further by 6 lakh square feet. In a regulatory filing, Embassy REIT informed that the company has signed an Agreement to Lease (ATL) with the Commonwealth Bank of Australia (CBA) for a premium office campus of approximately 0.8 million square feet along with an expansion option of an additional 0.6 million square feet at 'Embassy Manyata' project, one of Asia's largest and India's most prominent business parks. The new space is being designed as a comprehensive built-to-suit solution, and Embassy REIT expects to deliver the facility, including fit-outs in the fourth quarter of the calendar year 2026. Embassy has been home to CBA for 4 years, and we are delighted to extend our long-standing partnership with one of the world's leading financial institutions," Jitu Virwani,
BHIVE to add 3 mn sqft over next 2 yrs, eyes Rs 350 cr revenue in FY25
Over the past two years, BHIVE has expanded its managed office portfolio by adding 1.5 million square feet
Firms lease 53mn sq ft office space since 2022 to set up GCCs in 6 cities
Leading global companies have taken on lease nearly 53 million square feet of office space since 2022 across six major cities to set up Global Capability Centres (GCCs) with maximum demand in Bengaluru, according to CBRE and Zyoin. In their joint report, property consultant CBRE and hiring solutions firm Zyoin highlighted that GCCs have significantly amplified their Indian operations over recent decades, propelled by a skilled workforce, cost efficiency, and a conducive business climate. This GCC growth trajectory is anticipated to be concentrated in India's top six metropolitan areas, driven by their exceptional talent pools, enabling expansion and future development. "Global corporations are affirming their long-term commitment to India by securing larger office spaces for their GCCs," the consultant said. Nearly 53 million square feet of office space was leased by GCCs between 2022 and the first half of 2024 across Bengaluru, Hyderabad, Chennai, Pune, Delhi-NCR and Mumbai. Out
AI, Robotics companies led office space absorption in Bengaluru: Vestian
The office market demand surge in Bengaluru is attributed to the rapid global advancements in artificial intelligence and a supportive local ecosystem
Office or hotel? Workspaces embrace hospitality trends for employees
New-age offices and co-working spaces are adding creches, cafes, and concierge services
GCCs may occupy 26 million sq ft office space by 2027: Knight Frank India
As per the report, between 2018 and 2023, 5,349 GCC-focused office deals under 50,000 square feet were finalised across eight cities
65% Grade A office space in India's top 7 cities green-certified: Vestian
Southern cities such as Bengaluru, Chennai, Hyderabad comprise 58% of India's total green building stock, says the consultancy
Delhi HC sets July 25 deadline for Centre to decide on office space to AAP
The Delhi High Court on Tuesday granted the Centre time till July 25 to decide on allotment of office space to the AAP here on account of it being recognised as a national party. On June 5, the high court granted six weeks to the Centre to decide the Aam Aadmi Party's (AAP) request in this matter. The Directorate of Estates, Ministry of Housing and Urban Affairs, on Tuesday, sought four more weeks to comply with the court's direction, stating it was occupied with the "mammoth task" of alloting accommodation to parliamentarians. The senior counsel appearing for AAP opposed the Centre's request and emphasised that keeping in view the six-week deadline, which is expiring on Wednesday, the Supreme Court has granted the party time till August 10 as the last opportunity to vacate its present office in Rouse Avenue. In March, the Supreme Court first granted the AAP time till June 15 to vacate its Rouse Avenue office after noting that the land was allotted to the Delhi High Court for ...
Bengaluru office stock to reach 330-340 msf by 2030: CII-CBRE
In Bengaluru, the technology sector accounts for 30-35 per cent of annual absorption, primarily in the commercial hubs of Outer Ring Road (ORR) and Whitefield
Office transactions hit record highs in H1 2024: Knight Frank India
The office market saw 25.1 million square feet completed in H1 2024
Family offices surge to 300 since 2018 on Tier-II,-III push: PwC report
Family offices are increasingly venturing into startups and venture capital, although they typically prefer to see some traction before investing
Commercial real estate has bounced back after Covid-19 pandemic blues
Office leasing has surpassed pre-pandemic levels, driven by the growth of global capability centres (GCCs) and flexible office spaces
Shared spaces: Demand for co-living spaces up again after Covid blip
With occupancy rates up again, coliving firms are also promoting their centres as hubs for networking with like-minded individuals
Election impact on demand anticipated to be moderate: Shishir Baijal
As global uncertainties gradually abate, the robust Indian economy and favourable real estate fundamentals are anticipated to bolster private equity inflows into the sector
In home and office, India's real estate market charting a course for growth
In the residential domain, a resurgence post-pandemic is evident, characterised by robust market demand buoyed by both buyer confidence and favourable economic conditions
Office space leasing by GCCs up 17% to 22.5 mn sq ft in 2023-24: Report
India expected to have more than 1,900 such facilities by 2025 and more than 2 mn will be employed there, it says
WFH no more concern for office space demand: Cushman & Wakefield India head
The demand of premium office space across major cities is likely to exceed 70 million square feet this year and going forward as work-from-home is no longer a concern for the Indian commercial real estate market, said Cushman & Wakefield India chief Anshul Jain. Cushman & Wakefield, one of the leading global real estate consultants, is bullish on the Indian office market, driven by high demand from global capability centres (GCCs) and domestic companies across major sectors. In an interview with PTI Videos, Jain, Chief Executive, India & Southeast Asia and Head of Asia Pacific Tenant Representation, Cushman & Wakefield, said, "India is now being called the Office of the world interestingly. And the demand in India is one of the highest in Asia, and in fact the rest of the world." Indian office market across seven major cities is witnessing a very strong demand, with both gross leasing and net leasing reaching around pre-COVID level, he said. "So, from an office market .
