KPMG to Execute Largest Office Space Absorption in Bengaluru
With the country seeing an economic downturn which led to a decline in the absorption of office space, KPMG, the global professional services firm, announced its plan to lease more than 7 lakh sq-ft office space in Bengaluru. If this happens, this transaction could be the year’s largest absorption of office space this country has seen with respect to commercial office space.
KPMG has its offices at 12 locations in India, and is said to be the professional services firm that is growing at the fastest pace. They have declared their future growth plans with respect to expanding their office space over the next 4 years. They have more than 200 partners, and are targeting being a $1 billion organization. KPMG aims to recruit more than 10,000 employees over these years.
This flow of investment is expected to be very beneficial to the realty sector in India, with companies like KPMG, Deloitte, Ernst & Young, and PwC planning to hire more people. With more attention being paid to the emerging markets, a significant increase in business opportunities in the fields of infrastructure and government projects can be expected. These four companies alone are predicted to occupy 43 lakh sq-ft of office space.
Source: The Economic Times
commercial office space absorption, commercial office space demand, commercial office space in india, commercial office spaces, commercial office spaces in India, decline in the absorption of office space, India at cusp of multi-yr bull run: Morgan Stanley, KPMG may lease over 7-l sq ft office space in Bangalore, largest office space absorption so far in the country, office space in Bengaluru
