Buzz returns to office space
The Hindu
More and more employees returningto the workplace is good news for the real estate sector
Office space occupiers are preparing for their employees to return to the workplace, and a large chunk of the transactions in this sector in Q3 2021 was attributed to term renewals, according to the quarterly newsletter – The Connect Q3 2021 – of commercial real estate services firm Vestian.
Analysing the office market performance of seven key cities of the country, viz., Bengaluru, Mumbai, Hyderabad, Chennai, Kolkata, NCR and Pune, and showcasing market trends along with future perspectives for the industry, it said Bengaluru continued to lead the way with 24% share of the total absorption during Q3 2021. Hyderabad reclaimed its position as one of the key contenders for IT/ITeS office demand, occupying the second spot.
Shrinivas Rao, CEO-APAC, Vestian, says “The fact that companies are planning the steady return of employees will also fortify demand for office spaces in key markets of the country.”
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