Search Results: CBRE (201)

Reports Global Capability Centers, India Office Report, BFSI, Office Space Demand, Office Space Supply, Office Space Absorption, India Real Estate News, Indian Realty News, Real Estate News India, Indian Property Market News, Best Real Estate News Website, Best Property News Website, Real Estate Journalists

Global Capability Centres drive office leasing in Jan-Jun’24 period with a 37% share

Development completions of about 13.2 mn. sq. ft. was witnessed in Apr-June ‘24, up by 49% Q-o-Q, and 11% Y-o-Y. Bengaluru, Mumbai and Hyderabad drove supply addition during the quarter with a cumulative share of about 69%. The non-SEZ segment dominated development completions with a share of 90% in Q2 2024. Developers continued to exhibit their efforts towards sustainability, with over three-fourths of the newly completed space during Q2 2024 being green-certified (LEED or IGBC-rated).

Reports Global Capability Center, GCC, Leasing in India, Commercial Leasing Space, Commercial Property in India, India Real Estate News, Indian Realty News, Real Estate News India, Indian Property Market News, Best Property Portal, Best Real Estate Website, Real Estate Journalist

Leasing by global capability centres in India records 22.5 mn. sq. ft. in FY 2023-24

GCCs have become an important catalyst for change in the Indian office sector. With 1.3 mn talent as of 2019, the sector saw a 30–35% share of total office leasing in India in 2017-2019 period with over ~1250 operational GCCs. Between 2020-2022 period, GCCs accounted for 38–43% of the total leasing, housing over 1580 operating GCCs with a talent pool of 1.66 mn as of 2022. We anticipate that during 2023-2025 period, the GCCs will account for a significant 35–40% of the total office leasing. Moreover, India has been a leader in the growth of GCCs, expected to host over 1,900 GCCs by 2025 with a professional talent pool that exceeds 2 mn.

Reports Property Forecast, Property Trends, Indian Real Estate News, Indian Realty News, Real Estate News India, Indian Property Market, Residential Market, Office Spaces, Retail Spaces, Flexible Spaces, Logistics & Warehousing, Property Market Trends

Retail leasing expected to be firm in 2024, reaching 6-6.5 mn. sq. ft.

The residential sector is currently undergoing a bullish phase, characterised by a convergence of factors that foster an extremely favourable ecosystem. As we progress into 2024, we anticipate that both sales and new property launches will sustain the sector’s buoyancy. Despite the potential challenges posed by escalating land costs and limited funding options for early-stage projects, the robust underlying market fundamentals are expected to propel residential activity well above the average trend witnessed in the previous five years.

Reports Office Space, Co Working Space, Flexi Spaces, CBRE South Asia, Anshuman Magazine, India Real Estate News, Indian Realty News, Real Estate News India, Indian Property Market News, Best Real Estate Website, Best Property Portal

Flexible space operators emerge as the second-largest sector in Jan-Mar ’24 leasing, with a share of 22%

Global Capability Centres (GCCs) accounted for a share of one-third in the overall India office leasing in Jan- Mar ’24. Within the GCCs space take-up, E&M companies contributed to over one-fourth share, followed by automobile firms. Bangalore led the chart for GCC leasing, boasting a 60% share, followed by Hyderabad with 26% and Delhi-NCR with 9%. Notably, 38% of the large-sized deals (exceeding 100,000 sq. ft.) were secured by GCCs during this period, underscoring their significant impact on the office leasing landscape.

Market Rating Religious Places Property, Sacred Places Property, Spiritual Places Property, Mathura Property, Kashi Property, Varanasi Property, Vrindavan Property, Shirdi Property, Tirupati Property

Sacred cities see a retail boom as spiritual tourism surge

The surge in spiritual tourism can be attributed to enhanced infrastructure, including well-connected roads, airports, and public transportation, as well as the development of various accommodation options such as hotels, guesthouses, and wellness centres. To meet the growing demand for spiritual travel, local governments and businesses are joining forces to create unique retail experiences. This includes integrating local practices into the design and offerings of shops, restaurants, and hotels. Cities like Amritsar, Varanasi, Madurai, Puri, Guruvayur, etc. are leveraging their unique culinary traditions and local fashion expertise to further attract and engage visitors.

Reports High Street, Malls, Retail Real Estate, Luxury Real Estate, CBRE South Asia, PHD Chamber of Commerce and Industries, Anshuman Magazine, Best Real Estate Website, India Real Estate News, Indian Realty News, Real Estate News India, Indian Property Market

High Streets emerged as the top leasing choice for luxury brands in 2023, recording over 100% Y-o-Y growth

The overall leasing by luxury brands across the formats stood at 0.6 mn. sq. ft. in 2023, at almost 170% Y-o-Y growth. While High Streets constituted a 45% share in the overall luxury retail leasing in 2023, luxury brands’ stores in Malls followed at 40% and standalone stores accounted for the remaining 15%. This surge in leasing has been accompanied by the entry and expansion of various international luxury fashion, watch and jewellery brands across different locations. The eight cities tracked for leasing include Delhi-NCR, Mumbai, Bangalore, Kolkata, Pune, Ahmedabad, Chennai, and Hyderabad. 

Reports Greenfield Projects, Whitefield Projects, Construction Cost, Project Cost Escalation

Greenfield construction cost rises 5-7%, labour cost up by 8-10% Y-o-Y in Q3 2022

The outlook for construction costs remains stable but cautious, as market volatility is likely to persist in 2023 along with monetary tightening, continued high inflation, a possibility of a recession in developed economies and geopolitical turmoil-related challenges going forward. Therefore, CBRE forecasts a marginal rise in the overall construction costs during 2023 across cities, with Mumbai likely to witness a sharper rise. 

Headlines Resilience, Real Estate Resilience, Real Estate in 2019, Real Estate in 2020, Real Estate Forecast, Real Estate Slowdown, Real Estate Revival

Remarkable resilience of Indian real estate in 2019

According to the World Bank, India ranks at 63rd among 190 countries, and the ranking is anticipated to improve further in the coming years backed by progressive government policies. Meanwhile, the real estate sector has shown remarkable resilience despite the bearish phase of the economy. Below is a lowdown of how the real estate story unfolded in 2019:

Reports Student Housing in India, Student Housing Investment in India, Student Housing Potential in India, Student Housing Market in India

Student Housing to witness investments of over USD 700 million investment & an addition of 0.6 million beds by 2023

According to the report titled “The Herald of a New Chapter: Student Accommodation in India”, the Student Housing/Co-Living space is expected to witness an investment worth USD 700 million and an addition of 0.6 million beds by 2023 across the country. The Student Housing segment is witnessing rapid growth across all the major markets in the country and expected to witness a growth of 36 percent between 2019 to 2023. 

Industry Movement JLL, JLLI, Jones Lang LaSalle India, Ramesh Nair, Shiva Krishnan, India Real Estate News, Indian Real Estate News, Indian Realty News, Property News India, Investment in Property

Key leadership appointments in JLL Chennai

JLL India has announced key leadership appointments at strategic positions in its Chennai business. Siva Krishnan has been appointed Managing Director, Chennai; Kanchana Krishnan has joined as Head – Markets and Retail, Chennai and Jerry Kingsley has stepped up as Head – Capital Markets, South India and Head – Sri Lanka.

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