Offshoring Industry Drives Office Space Leases

01 Apr 2024

In India, the offshoring industry is experiencing a significant surge, driving demand for office spaces across the country. According to Knight Frank, over 46% of office space leases in India are attributed to the offshoring industry. This trend underscores the growing influence and importance of offshoring in the Indian market.

Companies within the offshoring sector are expanding their operations, leading to a heightened demand for office spaces in key cities like Bengaluru, Hyderabad, and Pune. With a strong emphasis on cost-efficiency and talent acquisition, these companies are strategically positioning themselves to harness India's vast pool of skilled professionals.

The offshoring boom is reshaping India's commercial real estate landscape, with developers and landlords capitalising on the growing demand for office spaces. As more multinational corporations and global players choose to outsource their operations to India, the need for quality office spaces equipped with modern amenities becomes paramount.

The offshoring industry's preference for Grade A office spaces is driving developers to focus on delivering high-quality, sustainable, and technology-enabled commercial properties. This shift towards premium office spaces not only caters to the specific requirements of offshoring companies but also elevates the overall standard of commercial real estate in India.

Furthermore, the offshoring industry's expansion is not limited to traditional office spaces alone. With the rise of remote work and flexible office solutions, co-working spaces and serviced offices are also witnessing increased demand from offshoring firms looking for agile and scalable workplace solutions.

In conclusion, the offshoring industry's growing presence in India is fuelling demand for office spaces and reshaping the commercial real estate market. As the trend continues to evolve, stakeholders across the industry are poised to adapt and capitalise on the opportunities presented by this thriving sector.

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