Monday, June 21, 2021
News

India's flexible space segment to grow at 10-15% annually for next 3 years

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Wednesday, 2021 7:45:05 PM IST
The co-working or flexible space segment in India is likely to grow at the rate of 10-15 per cent annually for the next three years, according to a CBRE report.

Currently, the flexible space in the country accounts for 36 million square feet.

Titled 'The Future is Flex', the report said that the prospective growth can be attributed to the hybrid space demand, expansion across cities and sustained funding.

It highlights that as of Q1,2021, Bengaluru holds a flex stock of 11.6 million square feet which is the maximum in the country, followed by Delhi-NCR at 6.6 million square feet and Hyderabad at 5.7 million square feet.

While these cities, along with Mumbai will continue to see further demand, flex demand in cities like Pune and Chennai are also expected to see growth in the coming years. In 2020 alone, over 75,000 seats were leased in flex spaces across India.

Additionally, with an expanded range of flexible space options, and increased focus on hybrid working models by enterprise clients, tier 2 and 3 markets are also expected to witness an increase in flex demand. Tier 2 activity is expected to be dominated mostly by domestic operators during the next couple of years, it said.

--IANS rrb/sn/sdr/

( 223 Words)

2021-05-12-13:48:03 (IANS)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
India to hold 2-day BRICS meet on Green ...
Saudi Aramco announces completion of sha...
Current bull market in India is up 106%,...
'Edtech sector witnesses surge in demand...
Reliance Group market capitalization sur...
Accura Scan aims to aid banks, telcos wi...
More...
 
INDIA WORLD ASIA
Saints in Haridwar practice Yoga on bank...
One of world's largest open modern art g...
Delhi bar & restaurant raided for violat...
COOVID-19 curfew in Goa extended till Ju...
Naveen Patnaik launches Ashirbad scheme ...
Statement of new entrant to BJP reflects...
More...    
 
 Top Stories
Study evaluates reason behind incre... 
Pak's opposition, treasury members ... 
8 Arab suspects arrested for allege... 
Shehbaz Sharif calls for Pak govt t... 
20K people could be allowed for Oly... 
Accura Scan aims to aid banks, telc... 
Hubble telescope on halt after trou... 
Amitabh Bachchan shares last page o...