India's Office Space Leasing Market Sees Unprecedented Growth in 2024
The Indian office space leasing market witnessed a remarkable surge in the first three quarters of 2024, with the July-September quarter recording a staggering 19.89 million square feet of leased space.
Office Space LeasingReal EstateIndian EconomyJllCoworking SpacesReal EstateOct 03, 2024
Several factors have contributed to this growth, including the government's initiatives to boost the economy, increasing demand for office space from various sectors, and the growing trend of co-working spaces. The IT and ITES sectors have been the primary drivers of this growth, accounting for a significant share of the total leased space.
The demand for office space is expected to continue, driven by the growth of the Indian economy and the expansion of businesses. With the government's focus on infrastructure development and the increasing adoption of technology, the office space leasing market is likely to remain buoyant in the coming quarters.
About JLL JLL is a leading professional services firm specializing in real estate and investment management. With operations in over 80 countries, JLL provides a comprehensive range of services to clients, including property management, leasing, and investment advisory. Information The Indian real estate sector has been experiencing a significant transformation in recent years, driven by the government's initiatives to boost the economy and increase investment in the sector. The office space leasing market has been a key beneficiary of this growth, with increasing demand from various sectors and the growing trend of co-working spaces.
Frequently Asked Questions
What was the total office space leased in the July-September quarter of 2024?
19.89 million square feet
Which sectors have been the primary drivers of the growth in the office space leasing market?
IT and ITES sectors
What is the outlook for the office space leasing market in the coming quarters?
The market is expected to remain buoyant, driven by the growth of the Indian economy and the expansion of businesses
What is JLL, and what services does it provide?
JLL is a leading professional services firm specializing in real estate and investment management, providing a comprehensive range of services to clients, including property management, leasing, and investment advisory
What has been driving the growth of the Indian real estate sector?
The government's initiatives to boost the economy and increase investment in the sector
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