🎙️The second quarter was a fantastic time for the Indian office market, with leasing activity still strong and hitting the fifth consecutive quarter of over 20 MSF of gross lease volumes. Even though the US tariff policy caused some economic uncertainty, it didn’t really affect the office market in the quarter, which shows how strong the market is and how much occupiers are still feeling good about things.
🎙️With all the great activity in the first half of the year, the office market is definitely on track to have another record year, even better than last year. The faster closures of big deals by global multinationals and domestic occupiers really boosted quarterly lease volumes. Global capability centres (GCCs) are still a big deal, and this trend is likely to keep picking up speed in the next few quarters, especially with the active deal pipeline. Fresh demand is still a big part of leasing volumes in the top cities, and Pune really stood out this quarter, with fresh demand more than doubling on an annual basis.
Credits: Report of Cushman & Wakefield, External Sources, Other Research Works
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