Foreign Firms Drive Office Space Leasing in India: CBRE

New Delhi, Apr 4 (PTI) Foreign companies rented 111.6 lakh sq ft office space in January-March this year across nine major cities, contributing 62 per cent to the total demand, according to CBRE.

Real estate consultant CBRE data showed that the gross leasing of office space rose 5 per cent to 180 lakh sqft in January-March across nine cities as against 171 lakh sqft in the year-ago period.

Global corporates accounted for 62 per cent of office space leasing.

Out of 180 lakh sqft gross leasing of office space, foreign firms rented 111.6 lakh sqft while domestic firm 68.4 lakh sqft.


These nine cities are -- Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, Ahmedabad, and Kochi.

Anshuman Magazine, Chairman & CEO -- India, South-East Asia, Middle East & Africa, CBRE, said, "India's office sector is on a solid trajectory for sustained leasing growth, driven by strategic expansions from both domestic and global occupiers."

Established hubs like Bengaluru, Hyderabad, Delhi-NCR, and Mumbai continue to lead, while cities like Chennai and Pune are gaining traction due to a strong talent base and a well-positioned supply pipeline, he added.

"As businesses seek quality workspaces, the demand for sustainable offices is rising, with occupiers prioritizing employee experience and long-term growth. A key factor shaping this momentum is the growing presence of Global Capability Centres," Magazine said.