The gross office space leasing deals were on a high in India in 2018. The activity was recorded at 36.4 million sq ft for the first nine months of 2018, up 26% year-on-year.
It was Bengaluru that once again saw the bulk (30%) of leasing activity during Q3 at 3.7 million sq feet, followed by Hyderabad. On the supply side, around 17 million sq ft office space supply was added during the period and this was an increase of over 50% compared with the first half of 2017. Four cities including Bangalore, Mumbai, Hyderabad and Delhi-NCR accounted for more than 80% of this supply.
Take a look at top office space leasing deals that took place in 2018.
- ServiceNow:
The American cloud computing company ServiceNow leased 6, 08, 000 sq. ft. space in Knowledge City, Hyderabad.
- Infosys:
Infosys leased 4, 01,300 sq ft office space in ITPP-Cypress, Hinjewadi, Pune.
- Facebook:
Social media giant Facebook rented office space spread across 3,30,000 sq ft in RMZ Skyview, Raidurg, Hyderabad.
- GE:
General Electric leased 3,00,000 sq ft space in Nirmal Sadan along the Noida Expressway.
- We Work:
WeWork rented 2,50,000 sq ft space in Vaishnavi Signature along the Outer ring road of Bengaluru. In another venture, the co-working player rented 2, 14, 300 sq ft space in Andheri East, Mumbai and another 1,89,300 sq ft space in L & T Seawoods, Navi Mumbai
- Micron:
Micron leased 2, 50, 000 sq ft space in RMZ Skyview, Raidurg, Hyderabad.
- Accenture:
Accenture took office space spread over 2, 50, 000 sq ft on rent in Godrej IT Park in Mumbai.
- Smartworks:
Co-working player Smartworks leased 82, 000 sq ft space in Andheri Kurla in Mumbai.