Your Weekly Dose of News from the Commercial Real Estate Industry
Flexible Office Space Set to Soar to 100 Million Sq Ft by 2026
The flexible office space market is on track for a significant expansion, with projections indicating a jump from 67 million sq ft to 100 million sq ft by the end of 2026. According to a recent report by real estate consultant Vestian , the sector has experienced a demand surge, shifting from startups and SMEs to larger conglomerates post-pandemic, thanks to cost efficiencies and adaptability.
From 2020 to 2023, the sector added 27 million sq ft of space, reflecting a 25% annual increase by mid-2024. Despite this growth, flexible spaces currently account for only 7.5% of India's total grade-A office stock, with 48% being green-certified, catering to environmentally conscious corporations.
With robust demand from IT-ITeS, startups, and expanding markets in tier-2 cities, the future looks promising for flexible office operators. Increased financial strength has empowered them to secure favourable deals with fund houses and banks, positioning the sector for continued growth.
iSprout Expands Hyderabad Footprint with 1 Million Sq Ft of Premium Office Space
iSprout Coworking Spaces , a managed office space sector leader, has expanded its presence in Hyderabad by leasing an additional 1 million sq ft of prime workspace across SAS iTower, iSprout Tower at Minaas, and Trendset Jayabheri Connect. This move boosts iSprout's total space in the city to 1.7 million sq ft, reinforcing its commitment to offering modern, tech-enabled workspaces tailored for businesses of all sizes.
Known for its innovative design and scalable solutions, iSprout has become a prominent player in India's flexible office market. The company's expansion in Hyderabad is part of a broader strategy to meet the growing demand for premium managed office solutions, with further growth anticipated by 2025.
As iSprout continues to evolve, it remains focused on delivering cutting-edge work environments that foster productivity and collaboration.
Office Space Absorption Rises 14% Across Major Indian Cities in Q3
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According to 仲量联行 's latest data, the Indian office space market saw a notable 14% annual growth in net absorption during the July-September quarter. The seven significant cities recorded a total of 12.16 million sq ft in net absorption, up from 10.69 million sq ft in the same period last year, signalling a surge in demand.
Bengaluru led the charge with 4.14 million sq ft absorbed, while other cities like Chennai, Delhi, and Pune also witnessed significant growth. However, Hyderabad experienced a decline, dropping from 2.7 million to 1.26 million sq ft.
With sustained expansion in key markets, India's office space demand continues to grow, driven by both global and domestic companies looking to increase capacity.
Most In-Demand Locations This Week-
Metro City : Delhi
Micro-market : South Delhi
Non-Metro City : Ahmedabad
Micro-market : Satellite
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