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. Â 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.