New Delhi, Oct 17 (IANS) Leasing of office space across major cities rose over 30 per cent to cross the 47 million square feet mark during the January-September period this year, on a year-on-year basis, according to a CBRE report.
The report also said that space of commercial area leased out in 2019 would cross the level recorded in 2018. Leasing was highest during the period under review in Bengaluru, it added.
“Leasing activity rose by more than 30 per cent, crossing 47 million square feet during the first three quarters of 2019 as compared to the same time period in 2018,” it said.
“Bangalore, followed by Hyderabad, NCR and Mumbai, accounted for about 80 per cent of leasing during 2019 year to date.”
In comparison to 2018, all cities witnessed a rise in space take-up so far in 2019. Spaces leased out in special economic zones accounted for almost a third of overall space takeup during the same review period, led by Bengaluru, Hyderabad, Pune and Chennai.
During the the July-September quarter, leasing activity was about 15.4 million square feet, rising by over 20 per cent on an annual basis.
–IANS
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