{"id":19578,"date":"2021-05-28T09:09:07","date_gmt":"2021-05-28T02:09:07","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=12490"},"modified":"2021-06-04T16:13:12","modified_gmt":"2021-06-04T09:13:12","slug":"indias-flexible-space-supply-expected-to-grow-by-10-15-in-next-three-years","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/indias-flexible-space-supply-expected-to-grow-by-10-15-in-next-three-years\/","title":{"rendered":"India’s flexible space supply expected to grow by 10-15% in next 3 years"},"content":{"rendered":"

Report indicates that as of Q1 2021, Bengaluru holds the highest amount in the country, followed by Delhi-NCR and\u00a0Hyderbad\u00a0<\/span>\u00a0<\/span><\/p>\n

\"\"
In 2020, more than 75,000 seats were leased in flex spaces across India. Source: Clicksabhi\/Shutterstock<\/figcaption><\/figure>\n

According to a report by CBRE, India\u2019s flexible space supply is predicted to increase by 10-15\u00a0percent\u00a0year-on-year from the current 36 million square feet in the upcoming three years,\u00a0said ET Realty.com<\/a>.\u00a0<\/span>\u00a0<\/span><\/p>\n

As of Q1 2021, the report notes that Bengaluru\u00a0carries a flex stock of 11.6 million square feet, the highest in the country. Following\u00a0at 6.6 million square feet\u00a0is Delhi-NCR,\u00a0and\u00a0Hyderbad\u00a0at 5.7 million square feet.\u00a0<\/span>\u00a0<\/span><\/p>\n

As these cities, as well as Mumbai, will proceed to see additional demand, flex demand in cities like Pune and Chennai also anticipate seeing growth in the coming years.\u00a0<\/span>\u00a0<\/span><\/p>\n

In 2020, more than 75,000 seats were leased in flex spaces across India.\u00a0<\/span>\u00a0<\/span><\/p>\n

Anshuman Magazine, chairman, India & South-East Asia, Middle East & Africa, CBRE, said, “The pandemic influenced the way businesses function and their overall strategies. Businesses are evaluating new working models that keep workplace flexibility at the centre, balancing employee benefits and business profitability. These models will not only ensure flexible working, but also ensure employee safety once offices resume normal operations. The demand for physical office spaces will continue to rise as employees look forward to normal workdays; with mass vaccination propelling further sectoral growth.”<\/span>\u00a0<\/span><\/p>\n

More: Slum households in India are given property rights via Basera scheme<\/strong><\/a><\/p>\n

Landlords may improve product offering via \u2018strategic\u2019 partnerships with operators or establishing their own brands to\u00a0tap into the demand for flex spaces in their portfolio.\u00a0<\/span>\u00a0<\/span><\/p>\n

Tier two and three markets are also expected to see an increase in flex demand. Domestic operators are anticipated to dominate Tier two activity\u00a0during\u00a0the next couple of years.\u00a0<\/span>\u00a0<\/span><\/p>\n

Moreover, operators may create higher flexibility and innovation solutions\/deal structures namely fit-outs as a service, reverse officing, pay-per-use models, all-access products, and more. <\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Report indicates that as of Q1 2021, Bengaluru holds the highest amount in the country, followed by Delhi-NCR and\u00a0Hyderbad\u00a0\u00a0<\/p>\n","protected":false},"author":2,"featured_media":19554,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[1649,847,216,798],"class_list":["post-19578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-flex-demand","tag-flexible-offices","tag-india","tag-workplace","news_country-india","news_author-property-report"],"acf":[],"yoast_head":"\nIndia's flexible space supply expected to grow by 10-15% in next 3 years | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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