Mumbai's Office Space Absorption Surges by 63% in Q1 2025

09 Apr 2025 CW Team

City-wise Office Space Absorption (Jan-Mar 2025):

Bengaluru: Recorded an absorption of about 4.8 million sq. ft., driven primarily by American technology firms. Key sectors included technology (33%), Entertainment & Media (24%), and BFSI (18%).?

Hyderabad: Saw approximately 1.9 million sq. ft. absorbed, with significant contributions from American life sciences and technology companies. Leading sectors were life sciences (23%), technology (17%), and FMCG & retail (13%).?

Delhi-NCR: Achieved around 3.8 million sq. ft. in absorption, fueled by BFSI Global Capability Centers (GCCs). The BFSI sector led with 32%, followed by technology (22%), and research, consulting & analytics (15%).?

Chennai: Noted strong absorption of about 2.6 million sq. ft., led by increased activity from tech companies. Key sectors were technology (32%), FMCG & retail (19%), and flexible space operators (14%).?

Pune: Domestic companies, particularly in the BFSI sector, drove the absorption of approximately 1.3 million sq. ft. The BFSI sector accounted for 36%, flexible space operators 24%, and technology 20%.?

On a pan-India level, the office sector recorded a gross absorption of 18.0 million sq. ft. during the Jan-Mar 2025 period, reflecting a 5% year-over-year growth. Bengaluru, Delhi-NCR, and Mumbai collectively accounted for approximately 64% of the total leasing activity.?

The report also highlighted that Global Capability Centers (GCCs) accounted for 45% of the quarterly leasing at 8.0 million sq. ft., registering a 66% year-over-year growth. Bengaluru dominated GCC leasing with a 40% share, followed by Delhi-NCR at 24%, Chennai at 14%, Hyderabad at 10%, while Mumbai and Pune accounted for 6% and 5%, respectively.?

Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, stated, "India’s office sector is on a solid trajectory for sustained leasing growth, driven by strategic expansions from both domestic and global occupiers. Established hubs like Bengaluru, Hyderabad, Delhi-NCR, and Mumbai continue to lead, while cities like Chennai and Pune are gaining traction due to a strong talent base and a well-positioned supply pipeline."?

Ram Chandnani, Managing Director, Advisory & Transaction Services, CBRE India, added, "India is rapidly evolving as a global hub for GCCs, with multinational firms leveraging its skilled workforce to drive innovation and digital transformation. In 2025, GCCs are expected to account for nearly 35-40% of total office space absorption, with expansions not just in metro cities but also in emerging business hubs, supported by favorable state policies."?

The report underscores the growing emphasis on sustainable and green-certified office spaces, with 81% of total office space take-up (14.7 million sq. ft.) in Q1 2025 being in green-certified assets. This trend highlights the increasing commitment of both occupiers and developers to environmental, social, and governance (ESG) principles and sustainability initiatives.?

As businesses continue to prioritize quality workspaces and sustainability, India's office market is poised for sustained growth, driven by sectors such as BFSI, technology, and emerging industries like life sciences and semiconductors.

According to the 'CBRE India Office Figures Q1 2025' report by CBRE South Asia Pvt. Ltd., Mumbai's office space leasing reached approximately 2.9 million sq. ft. in the first quarter of 2025, a significant 63% increase compared to the same period in 2024. The Banking, Financial Services, and Insurance (BFSI) sector led this growth, contributing 53% of the total leasing activity in the city.? City-wise Office Space Absorption (Jan-Mar 2025): Bengaluru: Recorded an absorption of about 4.8 million sq. ft., driven primarily by American technology firms. Key sectors included technology (33%), Entertainment & Media (24%), and BFSI (18%).? Hyderabad: Saw approximately 1.9 million sq. ft. absorbed, with significant contributions from American life sciences and technology companies. Leading sectors were life sciences (23%), technology (17%), and FMCG & retail (13%).? Delhi-NCR: Achieved around 3.8 million sq. ft. in absorption, fueled by BFSI Global Capability Centers (GCCs). The BFSI sector led with 32%, followed by technology (22%), and research, consulting & analytics (15%).? Chennai: Noted strong absorption of about 2.6 million sq. ft., led by increased activity from tech companies. Key sectors were technology (32%), FMCG & retail (19%), and flexible space operators (14%).? Pune: Domestic companies, particularly in the BFSI sector, drove the absorption of approximately 1.3 million sq. ft. The BFSI sector accounted for 36%, flexible space operators 24%, and technology 20%.? On a pan-India level, the office sector recorded a gross absorption of 18.0 million sq. ft. during the Jan-Mar 2025 period, reflecting a 5% year-over-year growth. Bengaluru, Delhi-NCR, and Mumbai collectively accounted for approximately 64% of the total leasing activity.? The report also highlighted that Global Capability Centers (GCCs) accounted for 45% of the quarterly leasing at 8.0 million sq. ft., registering a 66% year-over-year growth. Bengaluru dominated GCC leasing with a 40% share, followed by Delhi-NCR at 24%, Chennai at 14%, Hyderabad at 10%, while Mumbai and Pune accounted for 6% and 5%, respectively.? Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, stated, India’s office sector is on a solid trajectory for sustained leasing growth, driven by strategic expansions from both domestic and global occupiers. Established hubs like Bengaluru, Hyderabad, Delhi-NCR, and Mumbai continue to lead, while cities like Chennai and Pune are gaining traction due to a strong talent base and a well-positioned supply pipeline.? Ram Chandnani, Managing Director, Advisory & Transaction Services, CBRE India, added, India is rapidly evolving as a global hub for GCCs, with multinational firms leveraging its skilled workforce to drive innovation and digital transformation. In 2025, GCCs are expected to account for nearly 35-40% of total office space absorption, with expansions not just in metro cities but also in emerging business hubs, supported by favorable state policies.? The report underscores the growing emphasis on sustainable and green-certified office spaces, with 81% of total office space take-up (14.7 million sq. ft.) in Q1 2025 being in green-certified assets. This trend highlights the increasing commitment of both occupiers and developers to environmental, social, and governance (ESG) principles and sustainability initiatives.? As businesses continue to prioritize quality workspaces and sustainability, India's office market is poised for sustained growth, driven by sectors such as BFSI, technology, and emerging industries like life sciences and semiconductors.

Equipment

11 May 2026

ABB Launches IE6 Motor for Hazardous Industrial Areas

ABB has introduced what it claims is the world’s first IE6 Hyper-Efficiency motor certified for hazardous industrial environments under ATEX and IECEx standards.The new Increased Safety motor is based on ABB’s synchronous reluctance (SynRM) technology and is designed without magnets or rare earth materials. According to the company, the motor reduces energy losses by up to 60 per cent compared to standard IE3 induction motors commonly used in hazardous areas.The motor is intended for use in industries such as chemicals, marine, oil and gas, pharmaceuticals and food and beverage, where expl..

Real Estate

11 May 2026

Casagrand Launches 41-Acre Highcity Project in Chennai

Casagrand has launched Casagrand Highcity, a 41-acre integrated residential development on Chennai’s Outer Ring Road (ORR), marking the company’s largest residential project to date.The project will comprise over 4,000 two and three BHK apartments across four G+22 towers and is positioned as one of the largest organised residential developments in the ORR corridor.Located along Chennai’s emerging residential and infrastructure growth belt, the project benefits from connectivity to IT hubs including Navalur, Siruseri SIPCOT and Porur, as well as industrial clusters such as Sriperumbudur, ..

Real Estate

11 May 2026

Brigade, Marriott Open Courtyard Kochi Infopark

Brigade Hotel Ventures (BHVL) and Marriott International have opened Courtyard by Marriott Kochi Infopark, a rebranded and upgraded hotel formerly operating as Four Points by Sheraton Kochi Infopark.Located in Kakkanad adjoining Infopark Kochi, the 218-room property strengthens Brigade’s hospitality portfolio in one of the city’s key IT and commercial corridors. The hotel is positioned to cater to corporate, MICE and leisure travellers visiting Infopark, SmartCity and other business hubs in Kochi.The property offers flexible workspaces, smart TVs and high-speed WiFi across rooms and suites..