Home / Knowledge / News / Apparel/Garments / E-commerce now second highest occupier of office space
E-commerce now second highest occupier of office space
09
Jul '15
A key development during the second quarter of 2015 was a spurt in office space leasing by online retail firms, particularly in the National Capital Region (NCR) and Bangalore, according to CBRE’s India Office Market View for Q2 2015, which reports on the status of Grade-A office space across the country’s leading cities.

The survey by the commercial real estate services and investment firm found the e-commerce segment, has in fact, emerged as the second largest occupier of office space during the period with a share of about 17 per cent of total transacted space in the quarter, relegating the BFSI sector (16 per cent) to third place.

The IT/ITeS sector continued to remain the top demand driver with a share of approximately 36 per cent of office space transactions across the seven leading cities in Q2 2015.

Overall, the demand for corporate office space in India’s leading cities firmed up in the second quarter of 2015, while market sentiments improved to a large extent. More than 8 million sq. ft. of commercial office space was taken up across the seven leading cities, translating to a quarter-on-quarter (q-o-q) increase of around 70 per cent.

Bangalore remained the top corporate office destination in the country, with nearly 35 per cent of this total absorption figure being generated in the city, where leasing remained upbeat in completed as well as under-construction projects.

“Following a subdued first quarter, which is usually a period when corporates plan for annual real estate requirements, the second quarter witnessed a rise in office space absorption. A number of blue-chip tenants moved into quality office developments across leading cities in the April–June period. Overall, improved macro-economic sentiments during the first half of the year led to increasing demand for office space from corporate real estate occupiers. We expect these positive market sentiments to continue for the rest of the year,” Anshuman Magazine, chairman and managing director of CBRE, South Asia Pvt. Ltd. said on the findings of the survey.

Office space demand in the NCR, Mumbai and Chennai also remained upbeat with several large-sized transaction closures being reported during the period in IT and SEZ developments. Almost 53 per cent of total office space transactions in Q2 2015 was contributed by these three cities, each witnessing a healthy take-up of more than a million square feet of corporate real estate, the CBRE survey showed. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search