Co-working spaces, business centers drive office demand in Delhi-NCR
Co-working spaces and business center operators dominated the leasing activity in Delhi-NCR, followed by tech, research, consulting and analytics, and BFSI firms in Q2 2018, according to India Office Market View report by CBRE South Asia.
Majority of the leasing activity took place in the DLF Cybercity, NH-8 and along the Noida Expressway accounting for almost half of the region’s leasing activity. A majority of the deals were closed in secondary spaces.
“Occupier interest will continue to be towards locating in investment-grade, quality developments in these coming quarters. Recent completion of infrastructure initiatives, specially in Gurgaon and Noida, would further boost office occupier demand,” said Peush Jain, executive director, Advisory & Transaction Services, CBRE (India).
The quarter however also witnessed a few large-sized deals (greater than 100,000 sq. ft.) in Gurgaon.