India’s 36 million sq ft flexible space segment to grow by 10-15% YoY in three years
ECONOMY & POLICY

India’s 36 million sq ft flexible space segment to grow by 10-15% YoY in three years

On the back of demand for hybrid space, expansion across cities and sustained funding, CBRE expects India’s flexible stock to grow by 0-15 per cent year-on-year (YoY) from the current 36 million sq ft in the next three years. The firm recently released its report The Future is Flex, which hig...

On the back of demand for hybrid space, expansion across cities and sustained funding, CBRE expects India’s flexible stock to grow by 0-15 per cent year-on-year (YoY) from the current 36 million sq ft in the next three years. The firm recently released its report The Future is Flex, which highlights emerging trends and future expectations in India’s flexible space segment. According to the report, as in Q1,2021, Bengaluru holds a flex stock of 11.6 million sq ft, which is the maximum in the country, followed by Delhi-NCR at 6.6 million sq ft and Hyderabad at 5.7 million sq ft. While these cities along with Mumbai will continue to see further demand, flex demand in cities like Pune and Chennai are also expected to see growth in coming years. In 2020 alone, over 75,000 seats were leased in flex spaces across India.  “Businesses are evaluating new working models that keep workplace flexibility at the centre, balancing employee benefits and business profitability,” says Anshuman Magazine, Chairman, India & South-East Asia, Middle East & Africa, CBRE. “These models will not only ensure flexible working but also ensure employee safety once offices resume normal operations. The demand for physical office spaces will continue to rise as employee look forward to normal workdays, with mass vaccination propelling further sectoral growth.”“We are witnessing an accelerated change in performance, expectations and role of the workplace,” adds Ram Chandnani, Managing Director, Advisory & Transactions Services, India, CBRE. “Firms have been successful in changing their strategies to ensure seamless functioning, while effectively leveraging potential changes in work styles. While for many the work from home culture may continue, the demand for physical workspaces is expected to be driven by flex offerings.”

Next Story
Infrastructure Transport

Surya Roshni delivers customised lighting for NCRTC RRTS stations

Surya Roshni has supplied customised indoor lighting solutions for 18 elevated stations on the National Capital Region Transport Corporation's (NCRTC) Rapid Rail Transit System (RRTS), strengthening its presence in India's infrastructure lighting segment.The project involved the design and deployment of lighting systems for platforms, concourses, foot overbridges (FOBs) and back-of-house (BOH) areas. According to the company, the luminaires were developed specifically to meet NCRTC's design, operational and performance requirements rather than using standard products.Surya introduced two custo..

Next Story
Real Estate

Hilton debuts Tapestry Collection brand in Vietnam

Hilton has opened NHAAN Resort & Spa Hoi An, Tapestry Collection by Hilton, marking the debut of the Tapestry Collection brand in Vietnam and expanding its lifestyle hospitality portfolio in Southeast Asia.Located along the Co Co River in Cam Thanh village, the 174-key resort provides access to Hoi An Ancient Town, Cua Dai Beach and the Cam Thanh Nipa Forest. The property has been designed by Vietnamese architect Vo Trong Nghia, incorporating biophilic architecture, locally sourced materials and riverfront landscapes.The resort offers a mix of guest rooms and suites, including family-frien..

Next Story
Building Material

Electrent expands lithium energy storage system portfolio

Electrent Energy has expanded its lithium-based energy storage portfolio with the launch of the ESS 850 and ESS 1050, targeting compact and maintenance-free power backup solutions for Indian homes.The new systems integrate a Home UPS and a LiFePO4 lithium battery into a single unit, extending the company's product range following the launch of its ESS 1350 and ESS 2500 models.Designed for apartments and smaller homes, the ESS 850 provides up to 1 hour 15 minutes of backup, while the ESS 1050 offers up to 1 hour 45 minutes on a typical 400 W household load. The systems can power essential appli..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement