Bengaluru Office Leasing Down 3% in Jan-Jun: C&W

New Delhi, Aug 18 (PTI) Net leasing of office spaces in Bengaluru fell 3 per cent to 6 million sq ft during the January-June period of this calendar year, according to real estate consultant Cushman & Wakefield.

Net absorption or leasing refers to the net change in occupied space within a given market over a specific period.

Across eight major cities, the consultant's data showed that the net leasing rose 24 per cent to 27.8 million sq ft in January-June 2025 from 22.5 million sq ft in the corresponding period of the preceding year.

"India's office market continues to outperform global peers, underpinned by a solid economic outlook and long-term occupier confidence," said Anshul Jain, Chief Executive, India, SEA and APAC Tenant Representation at Cushman & Wakefield.

As per the data, the net leasing of office space in Bengaluru declined to 6 million square feet from 6.2 million sq ft.

Kolkata too saw a drop of 11 per cent in net leasing to 0.8 million square feet from 0.9 million square feet.

In Ahmedabad, the net demand of office space fell 94 per cent to 0.1 million sq ft from 2.1 million sq ft.

However, the net leasing increased in Mumbai, Delhi-NCR, Chennai and Pune. The demand remained stable in Hyderabad.

In Mumbai, net leasing rose 30 per cent to 5.5 million sq ft from 4.2 million square feet.

The demand jumped more than two times in Pune to 4.3 million sq ft from 1.7 million sq ft.

Delhi-NCR saw a sharp rise in net leasing to 5.2 million sq ft from 2.9 million sq ft.

In Chennai, the net leasing rose to 3.1 million sq ft from 1.7 million sq ft.

Hyderabad saw a flat demand of 2.8 million sq ft.

As per the data, the new supply of office space rose 14 per cent annually to 23.2 million sq ft during the January-June period of this calendar year.