Page 3 - Leasing Activity News Today

The Indian commercial real estate sector has shown resilience and sustained growth despite global headwinds. Office space absorption in key markets during the September quarter reached its highest level in 18 months. Gross leasing activity also surpassed pre-pandemic levels, with the manufacturing sector leading the way. The strong demand is driven by Indias tech ecosystem, which is experiencing increased offshoring and research and development work.

India office sector is expected to close stronger at 40-45 million sq feet of gross leasing across the top 6 markets in 2023, perceptibly higher than predicted in Mar2023 driven by strong domestic demand, according to Colliers latest report “India office market – Changing winds.

Retailers have expressed positive leasing sentiments, indicating their strong interest in establishing new setups, expanding operations, and upgrading existing stores

THE new-look Mall shopping centre in Armagh is reporting “positive leasing activity” since being acquired earlier this year by Turkington Group.

Industrial & Logistics (I&L) sector has recorded a 35% Y-o-Y surge in total leasing, which stood at 19.1 mn. sq. ft. across 8 cities during Jan-Jun 2023 period. According to CBRE, the leasing activity is expected to sustain its momentum in the Jul-Dec23 period, which is expected to be partly driven by festive season sales observed across the country.

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