RICS India and Colliers International India’s new report “Seizing opportunities: Making CRE agile in a dynamic business environment” offers insight into how occupiers’ preferences are shifting.
“The next decade will usher in new formats of workplaces, with landlords emerging as wellness creators, where occupiers amalgamate workplaces and technology to increase productivity at workplaces,” said Ritesh Sachdev MRICS, Head of Occupier Services, India and Managing Director, South India at Colliers International.
Colliers is predicting investments into real estate to be about $6.5 billion this year, with offices seeing the largest portion.
Additionally, as Bengaluru comes out on top as a prime location for technology, Colliers expects gross absorption in the city to reach about 9.5 million square feet this year due to tech companies and flexible office firms.
Last year’s flexible workspace leases were the largest on record, and 2019 is expected to hit 8.8 million square feet, accounting for 19% of total leasing.
Driving this demand for flexible offices are younger generations that prefer working in collaborative environments.