BENGALURU: Net absorption of office space declined 27% to 5.5 msf in Q1 2017 (Jan – Mar 2017) from 7.4 msf recorded in Q1 2016, in the top 8 Indian cities according to international property consultants Cushman & Wakefield.

The decline was primarily due to delays in quality supply during the quarter. While occupiers maintain a healthy outlook towards expansion and up-take of office space, constraints related to delays in occupancy certificates (OCs), and deferred construction schedules by developers in most cities led to the significant drop in net absorption during Q1 2017.

One Thought on “Office space net absorption drops by 27% in Q1 2017”

Leave a Reply

Your email address will not be published. Required fields are marked *