India Flexible Space Quarterly Digest Q1 2019
The flexible space segment has witnessed stellar growth in India in the past few years, disrupting existing business models and creating new opportunities. CBRE Research is starting a new quarterly series covering broad trends in this segment. This is the first report in this series.
- Space take-up in this segment witnessed a 70% increase on a quarterly basis, to reach 2.9
mn sftby the end of Q1 2019.
- Bangalore and Delhi-NCR
werethe most preferred markets for flexible space operators in India, accounting for more than half of leasing in the country in Q1 2019.
- Hybrid and managed spaces drove flexible space take up, commanding
sharesof 46% and 36% respectively.
- Looking ahead, CBRE expects established corporates to continue to take up larger number of seats as compared to start-ups. Developers would emphasise on maintaining healthy levels of occupancy rates, providing customized services and incorporating tech for enterprise solutions.