Bangalore Office Market Snapshot 2013

“The year 2013 saw marginal decrease in demand due to overall economic sentiments. However, Bengaluru witnessed approximately 8.7 MN SF of commercial office space absorption which is around 9 percent lesser than last year. Considering the economic slowdown this year, the quantum of commercial real estate absorption seems to be reasonable. In 2012-13, market has witnessed few big ticket transactions and the trend would continue in the coming years,” Says Yogesh Bheemaiah – Director – Office Services Bangalore.

Besides, “quite a few of the larger corporates are considering capital investment instead of the Lease model. There were limited SEZ transactions in Bangalore for CY 2013, primarily due to limited availability of ready-to-occupy space. 2014 is expected to have relatively higher percentage of SEZ supply available for leasing. We expect the supply from a number of launched commercial projects to be ready by 2015,” added Bheemaiah.

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