According to CBRE, flexible workspace leases rose by 52% to 4.6 million square feet during the first half of the year in India.
The seven major cities that experienced this growth include Delhi-NCR, Bengaluru, Mumbai, Chennai, Hyderabad, Kolkata and Pune.
In CBRE’s ‘India Flexible Space Digest – H1 2019’ report, it was revealed that Bengaluru accounted for almost 30% of leasing by flexible office operators.
“India is currently one of the leading flexible space markets in APAC and we expect increasing investments in this segment going forward,” said Anshuman Magazine, CEO of CBRE India, South East Asia, Middle East and Africa. “Office stock is expected to grow from 600 million square feet in mid-2019 to a billion square feet by end of 2030 and flexible space will comprise 8 to 10% of the total office stock.”