According to the latest survey by industry bodies FICCI and NAREDCO, and property consultant Knight Frank, the Current Sentiment Index of real estate stakeholders in India has plummeted to 42 in the July-September quarter from 47 and 62 in the preceding two quarters.
REIT-able office stock in the country to garner $35 bn of investments in near term
While the general perception is that the cost of a seat at a co-working space exceeds the cost of renting an office space, the numbers tell a different story.
Currently, the top seven cities have close to 550 mn sq ft Grade A office supply - of which 310-320 mn sq ft is REITable as of now, the report said.
Bengaluru maintains top position in office space leasing, recording a gross absorption of 12.1 million sq ft during Jan-September period.
Noida-based Bhutani Infra intends delivering close to 15 million sq ft of commercial space worth Rs 4,500 crore by 2023
Occupancy certificate received for over 4 lakh sq ft of area.
It would specifically support developers operating in special economic zones, realty experts said.
The company is considering introducing three global brands - HQ Global Workspaces, Signature by Regus and a CXO club to India next year
Bengaluru leads the flexible workspace stock with around 6 million sq ft
The entire land parcel, whose existing land use is residential, can support five million sq ft of built up area
HNIs, and even family offices are focusing on pre-leased assets.
Mumbai attracted the highest investment inflows at Rs 6,100 crore, followed by Pune and Delhi-NCR, the Cushman & Wakefield report said
Co-working operators are venturing into tier-2 cities such as Jaipur, Goa, Chandigarh and Lucknow, and smaller cities are likely to see further growth as they are witnessing a spurt of start-ups and incubation spaces
Bengaluru led the leasing activity with a 30 percent share of gross leasing in H1 2019, followed by Delhi-NCR and Hyderabad, with a share of 18 percent and 16 percent, respectively
Office space supply and transaction volume at an all-time high; Co-working spaces account for 15% of volume in first half of 2019
Hyderabad plays catch-up with Bengaluru, says Colliers Research
The increase in PE inflow signals rising confidence of institutional investors in India's premium office spaces, retail properties and warehousing sector
Singapore overtakes Hong Kong as Asia-Pacific’s top source for outbound capital, says a report by Knight Frank
The company hopes to raise investment worth $30 million for expansion. Going forward, 10 to 15 percent of its new supply would be located in malls, warehouses and institutions.
Going forward, the outlook for the commercial sector is positive, with REITs being the game changer
Bengaluru is expected to attract the highest proportion of GIC leasing, energy and chemical companies are considering Mumbai, and tech and consumer electronics companies are looking for options in Delhi-NCR for GICs
The new centre is expected to be operational in June 2019.
At 33 percent share of REITable space, Bengaluru will provide the highest REITable assets totaling 97.8 mn sq ft.
With a strong start across markets in 2019, leasing activity this year is expected to gain momentum with the already high demand for quality office spaces.