Gross office space leasing touches all-time high of 48 mn sq ft in 2018: C&W

Gross leasing of office space hit an all-time high of 48.1 million sq ft in 2018 across eight major cities on higher demand from domestic and global corporates as well as co-working operators, according to property consultant Cushman & Wakefield.

The gross leasing of office space stood at 41 million sq ft in 2017.

The cities tracked by the consultant are Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Pune, Hyderabad and Ahmedabad.

"India's office market hits an all-time high with leasing activity scaling 48 million sq ft, as forecasted by us earlier during 2018. It signals the strength and resilience of the commercial markets as well as the continued positive business momentum that carried us through the year," said Anshul Jain, country head and managing director, Cushman & Wakefield (C&W) India.

Co-working players took on lease nearly 5 million sq ft, highest ever, of office space during last year.

Nearly 30 per cent of gross leasing volumes came in the form of ...