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Local firms drive office demand
June 17, 2025
|Mint Mumbai
Domestic companies are taking more office space.
They leased a record 31.9 million sq. ft (msf) area in 2024. The traction continued in the first quarter of 2025 (QICY25) with 8.8 msf already leased, JLL India said in a recent report. This has translated into better absorption of available Grade-A office units and higher occupancies.
On average, since 2022, domestic occupiers account for a 46% share of gross leasing versus 35% pre-pandemic (2017-2019), as per JLL. The property consultant added that BFSI firms have more than doubled their space requirements, with average deal sizes jumping from 10,500-11,500 sq. ft in 2017-2019 to 24,000-25,000 sq. ft from 2022 to QICY25, a staggering 125-130% rise.
Gross leasing covers all lease transactions, except term renewals and deals in the discussion stage.
هذه القصة من طبعة June 17, 2025 من Mint Mumbai.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
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