Office space leasing rise to 7 m sq ft, survey
Although the real estate market remained sluggish, nearly seven million sq ft of office space were leased out during the April-June period, says a survey.
Major cities like Delhi NCR, Mumbai and Bangalore have totalled over 75 per cent of the entire space absorbed during the three month period, according to a report by global property firm CBRE.
The rise in office space absorption is a good news for the realty sector after the initial sluggishness witnessed in Q1 of 2012, said CBRE (South Asia) Chairman and Managing Director Anshuman Magazine said in a statement.
During the January-March period, 5 million sq ft office space was leased out.
Nearly 9 million sq ft of office space were added during the April-June quarter, which was largely concentrated in Delhi NCR, Mumbai and Bangalore, comprising almost 96 per cent of the entire quantum added.
To read more real estate news:
Bangalore witnesses 46% fall in office space absorption
5% rise in Hyderabad office space leasing
Source: Zee News
Bangalore, CBRE, Delhi NCR, Mumbai, Office space, Office space absorption, office space leasing, Real-estate market, Realty sector, sluggish, space leasing
