Friday, 18 December 2015

Indian commercial realty business rebounds after 3 years of lull

MUMBAI: The year 2015 marked a turnaround for India's commercial real estate as steady economic growth and renewed corporate confidence, especially among ecommerce and IT companies, propelled transactions to the secondhighest level in terms of area.

After over three years of weakness, total purchases and leases of office space in the top eight property markets rose to 35 million square feet during 2015. Net commercial real estate transactions by companies rose 17.1% from a year ago.

In 2011, a record 37 million sq. ft. of office space was taken up as rents eased after the global financial crisis. This time, however, it was the result of companies implementing growth plans, according to a report by property consultant Jones Lang LaSalle (JLL) India.

"During the year, office space demand was mainly driven by information technology/ITenabled services, ecommerce, startups and large consulting firms," said Anuj Puri, chairman at JLL India. "Players in many other sectors ..

Read more at:
http://economictimes.indiatimes.com/articleshow/50211241.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

2 comments:

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