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Office space sees uptick in assimilation in Q1 2016: Colliers

April 13, 2016 | By

Office space assimilation saw a sound uptick of more than 11% in first quarter of this current year from the past quarter on the back of positive financial development combined with expanding business certainty file, reports land administrations office Colliers International.

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The business sector saw office space retention of 8.8 million sft in the primary quarter of 2016 with Bengaluru bringing the lion’s offer with 33% took after by NCR (Delhi, Gurgaon and Noida), Hyderabad, Pune and Mumbai.

Significant exchanges this quarter included 6.2 lakh sft rented by Infosys in Pune, 5 lakh sft by HP in Bengaluru and 1.5 lakh sft by EXL in Noida. Other than this, RMZ Corp has obtained Essar Group’s Equinox Business Park situated at Bandra-Kurla Complex (BKC) in Mumbai for around Rs 2,400 crore.

Hyderabad remained the brilliant spot in the business with significant tech organizations declaring colossal speculations to reinforce their growing system of innovation advancement focuses and offices in the city.

Amazon as of late rented 3.5 lakh sft space in Raheja Mindspace in Hitech city. Apple Inc. is additionally opening its first innovation focus in the city renting 2.5 lakh sft of space in Tishman Speyer’s Waverock SEZ in Hyderabad.

Grade A rents stayed stable in both focal and optional business regions over the nine urban areas. Notwithstanding, with restricted new dispatches, the workplace development pipeline expanded marginally from Q4 of a year ago. Opportunity levels in most significant urban communities declined because of restricted new supply expansion.

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