2022 emerges as the best year in office space leasing
The year 2022 is likely to emerge as the best year in terms of office space leasing, with absorption likely to cross 50 mn sq feet across the top 6 cities, driven by a spillover in demand from the last two years and renewed interest from occupiers.
According to Colliers, office absorption has already touched 40.6 mn sq ft during Q1-Q3 2022, a two-fold increase from the same period last year which witnessed lockdowns due to Covid-19.
Demand in Bengaluru, Delhi-NCR and Chennai has already surpassed the earlier high seen in 2019. Mumbai, Hyderabad and Pune are also inching towards reaching historical levels by the end of the year, mentioned Colliers.