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Business EconomyPosted at: Jul 27 2022 8:11PM


Monthly aggregate office leasing activity up 1.48X Y-o-Y at 5.8 mn sq ft: JLL report

Hyderabad, July 27 (UNI) Leasing activity remains robust with space leased up 1.48X Year-on- Year (Y-o-Y) in June, 2022 when compared to the corresponding month in previous year.
Despite leasing activity being slower in June 2022 as against previous month (May , 2022), the number of transactions in June month witnessed a significant jump.
The top four cities with a cumulative share of 87 percent in monthly leasing activity for June 2022 are Bengaluru, Chennai, Mumbai, and Delhi NCR, JLL, a leading professional services firm that specializes in real estate and investment management said in a release on Wednesday.
A significant increase in the number of deals both Y-o-Y and Q-o-Q is indicative of rising occupier activity which is in sync with rising occupancy levels in offices.
Mumbai led with the maximum number of deals during June 2022 followed by Chennai and Delhi NCR.
Tech occupiers continue to remain the key drivers of the aggregate market leasing activity in June 2022 with a 35 percent share while the healthcare occupiers are pushing the share of the composite occupier category of telecom, real estate & construction with BFSI showing a near-doubling of its share month-on-month.
On a q-o-q basis, there was a slight decline, a trend on which we will keep a close eye given the global headwinds that may impact market leasing activity as occupiers are likely to be cautiously optimistic about growth-oriented real estate space requirements.” Dr. Samantak Das, chief economist, and head research and REIS, India, JLL.
Aggregate market leasing activity refers to lease transactions for all grades in the top 7 cities (Delhi NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune and Kolkata) recorded during the period, including confirmed pre-commitments and term renewals. Deals in the discussion stage are not included.
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