Bengaluru, Jan 24 (UNI) CBRE South Asia Pvt Ltd, India’s leading real estate consulting firm, on Friday announced the findings of its latest India Office MarketView Q4 2019 report.



According to the CBRE report, gross leasing activity grew by more than 25 per cent y-o-y to cross 60 million and touched a historic high of almost 61.6 million sq ft by the end of 2019. Bangalore, followed by Hyderabad, Delhi NCR and Mumbai, dominated office leasing on an annual basis, are together accounting for almost 75 per cent of the overall space take-up.



Mr Anshuman Magazine, Chairman & CEO - India, South East Asia, Middle East & Africa, CBRE said, “According to the World Bank, India ranks 63rd among 190 countries in the Ease of Doing Business index, the ranking is anticipated to improve further in the coming years, backed by progressive government policies. This helped in retaining the buoyancy of the office sector in 2019, where demand was driven by global multinationals, domestic firms and a healthy supply infusion in cities such as Hyderabad and Bangalore."

In the coming years, the real estate sector is expected to offer vast development and investment opportunities even as the Indian economy transitions and its workforce expands. Office stock is expected to grow to a billion sq ft by the end of 2030 and flexible space will become mainstream – accounting for 8-10 per cent of the total office stock, he added.



Mr Ram Chandnani, Managing Director, Advisory & Transaction Services, India, CBRE South Asia Pvt Ltd, said, “Several occupiers are likely to adopt newer workplace strategies to realign their portfolios by trying to find the right mix of agility within their core workplaces along with adding external flexible options (especially managed spaces)."

In 2019, more than 20 million sq ft of pre-leasing activity was recorded mainly in Bangalore, Hyderabad, Pune and Mumbai.



Hyderabad, followed by Delhi NCR, Bangalore and Pune dominated development completions, accounting for almost 80 per cent of the overall 2019 supply. In comparsion, the share of SEZs in supply dipped from 40 per cent in 2018 to 27 per cent during 2019, mainly led by Hyderabad, followed by Bangalore, Pune and Chennai.

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