India’s Commercial Real Estate Booms Amid Surging Office Space Demand

13 Jan 2025 CW Team

India's commercial real estate sector witnessed unprecedented growth in 2024, fuelled by soaring demand for office spaces from global companies, according to reports from top property consultancies. Net office absorption reached approximately 50 million square feet last year, marking the highest level in five years, as per data from Cushman & Wakefield and JLL Research. Overall office leasing activity hit a record 79 million square feet across India's top nine cities, with Bengaluru leading the charge, accounting for 28% of total absorption. Rahul Arora of JLL noted that India's office market continues to thrive as a global hub for occupiers, with strong demand from sectors like financial services, manufacturing, and tech outsourcing. Similarly, CBRE's Anshuman Magazine highlighted the sustained growth momentum in 2024, driven by technology, BFSI, engineering, and global capability centres (GCCs). The CBRE report showed that domestic companies led office space absorption with a 45% share, followed by firms from the Americas (34%), EMEA (16%), and APAC (5%). GCCs alone leased 29.4 million square feet, contributing 37% of overall leasing activity, reflecting a 29% year-on-year growth. Knight Frank India reported that businesses catering exclusively to the Indian market occupied 36% of leased office space, while GCCs accounted for 31%. Leasing by flexible space providers surged by 52%, reaching nearly 15 million square feet in 2024. Despite the robust demand, the supply of grade A office spaces struggled to keep pace. However, this is expected to improve in 2025, with new developments planned in suburban markets across key cities. Bengaluru retained its dominance with a gross leasing value share of 29%, followed by Mumbai (20%) and the Delhi-NCR region (15%). Experts anticipate sustained growth this year, with GCCs and niche sectors like semiconductors, life sciences, and automobiles driving demand for both traditional and flexible office spaces. Shishir Baijal of Knight Frank India concluded that India's innovative spirit and strategic appeal will continue to solidify its position as a global leader in the office real estate market. (Mint)

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..