Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "India Office Real Estate Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The latest industry analysis highlights a robust growth trajectory for the India Office Real Estate Market, with forecasts projecting an expansion from USD 26.00 billion in 2023 to USD 91.08 billion by 2028. This exceptional growth rate, pegged at a CAGR of 28.50% during the forecast period of 2023 to 2028, signifies the rapidly evolving landscape of office real estate in one of the world’s most dynamic economies.
Despite temporary setbacks due to the global pandemic, the resilience of the market is evident as businesses adapt to new norms. The second wave of COVID-19 had certainly put a dampener on market sentiment; nonetheless, the progress in vaccination rates has bolstered corporate confidence, with companies actively delineating strategies for workforce reintegration into office spaces.
Key Trends Shaping the Market
- Integration of traditional, remote, and flexible workspaces within corporate real estate portfolios to embrace hybrid work models
- De-centralization of workplaces aiming to enhance cost efficiency and portfolio optimization
- Increased demand in the IT, healthcare, e-commerce, and logistics sectors
Market Dynamics
Gross leasing witnessed oscillations in 2021 with the second wave exerting its influence, yet year-on-year analysis indicates a marked improvement with office leasing growing by 55.1% in Q2 2021 over the same period in 2020. Attributed to vibrant sectors such as IT and e-commerce, the market demand for office spaces is surging.
Impact of Foreign Investments
FDI policy ameliorations have poised India as an attractive venue for global corporations seeking to expand their footprint. Major cities and emerging urban centers across the country are consequently experiencing a surge in Grade-A office space absorption. This denotes a significant uptick in the larger canvas of industrial and warehousing space utilization as well.
Overview of India Office Real Estate Industry
The scenario within this domain is intensely competitive with a multitude of domestic and international players vying for market share. The potential for SME expansion in tier 2 cities adds a layer of dynamism to the industry. Esteemed real estate developers and consultancy firms continue to navigate through industry complexities, aiding market progression.
Conclusively, the India Office Real Estate Market stands at the cusp of transformative growth with hybrid workplace models, enabling policy landscape, and substantial foreign investment flows, cementing its position as a pivotal vertical in the nation's overarching economic development narrative.
A selection of companies mentioned in this report includes
- Savills
- Cushman & Wakefield
- CBRE Group
- JLL
- Panchshil Realty
For more information about this report visit https://www.researchandmarkets.com/r/4fnn3v
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