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Engineering and manufacturing companies see increased office leasing in Q1 2021
Commercial Design
|May 2021
The engineering and manufacturing sector accounted for the second highest leasing share in the top six Indian cities, after the IT-BPM sector as manufacturing companies bet on India to set up their global in-house centers.
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During Q1 2021, the engineering and manufacturing sector’s leasing accounted for about 18% of the total leasing, up from 11% in Q1 2020.
The IT-BPM accounted for about 47% of the total leasing, driving demand. The average deal size in the IT-BPM was about 37,500 square feet. Interestingly, EdTech companies accounted for 7% of the total leasing.
Overall, Bengaluru led leasing activity with share of about 47%, followed by Mumbai and Delhi-NCR with a share of 16% and 14% respectively.
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