Office space leasing expected to cross 60 million sq ft in 2024
The first half of 2024 saw over 30 million sq ft of office space absorbed, an 18% increase from H1 2023, according to Vestian. Demand for grade-A offices remains strong across India's top seven cities, with 2024 expected to exceed 60 million sq ft. Bengaluru led Q2 2024 absorption at 25%, followed by Hyderabad and Mumbai. The IT-ITeS sector dominated, accounting for 38% of absorption. New completions also rose by 17% in H1 2024