A new JLL paper reveals that India’s office market is expected to see massive growth in the coming years.
“Reimagining, Reinventing and Redefining Real Estate 2030” claims that the Grade A office market will grow to over 1 billion square feet by 2026 across the country’s top seven cities.
Along with that, the flexible office market is predicted to double its presence to 75 million square feet by 2025.
India’s office sector has been among the fastest to rebound from the pandemic, particularly as the idea of flexible offices continues to become mainstream amongst enterprises, startups, and even landlords.
Not only is the region’s footprint expected to see a massive increase, but many buildings are taking a greener approach as demand for environmentally-friendly workspaces continues to grow. At this rate, JLL expects that net zero carbon emissions will become a more common part of both landlords’ and operators’ strategies to attract occupiers and members.
“India will continue to remain the leader in technology outsourcing and will build on its gains as the biggest R&D [research and development] and Global Capability Centre hub across financial services, software development, new technology, artificial intelligence and machine learning,” said Karan Singh Sodi, Regional Managing Director of JLL Mumbai and Ahmedabad.