Bengaluru's office space to reach 340 million sq ft by 2030: Report

15 Jul 2024 CW Team

Ram Chandnani, Managing Director of Advisory and Transaction Services at CBRE India, mentioned that with the boom in the commercial real estate sector, there is a need to enhance the city's infrastructure.

He pointed out that Bengaluru is currently trying to keep up with the growth and mentioned that a commercial boom would likely lead to a marginal increase in rentals as companies seek various amenities in office spaces.

Experts indicated that to maintain the momentum, emerging industries need to upskill and attract more talent. Chandnani emphasized that this is a golden period for India and its industry, and that both the state and Union governments should support this growth.

Despite global challenges and economic slowdown in 2023, Bengaluru achieved a record high in warehousing space, reaching 4.6 million square feet, with local developers leading the supply additions.

The city now has 54 million square feet of warehousing space, ranking it among the top three industrial and logistics hubs in India, alongside Mumbai and Delhi-NCR.

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