Mumbai, June 9 (IANS). The growing footprints of global firms in India as well as the country are fully prepared to meet the rapid demand related to the place. In addition, India is also preparing Future-Reddy, Flexible Environment, which can provide equally performance, strength and purposeful design. This information was given in a latest report on Monday.
Global corporates are now targeting places of over 100 million square feet for workpace.
The report by Knight Frank states that 63 percent of corporate real estate leaders in the survey expressed concern about economic and geopolitical instability. For this, companies are making changes in their space strategies. They are considering preference to a short time lease, more flexible format as well as such location that make their risk diversification and access to talent easier.
Shishir Baijal, chairman and managing director of Knight Frank India, said, “This change is already going on in India. Office leasing in the country has reached 71.9 million sq ft in 2024, which reflects an increase of 21 percent on an annual basis. While the start of 2025 has been strong, office leasing has reached 28.2 million sq ft in the first quarter, which has increased by 74 percent on an annual basis.”
He further said, “Complications of Corporate Real Estate are taking shape from strategic alignment, operational volatility and rapidly developing functioning.”
The findings showed that rather than retreat, many corporate changes are accelerating. About 50 percent of the reports hope that their footprints will increase by 104 million sq ft in the next three to five years.
Dr. Lee Elliot, partner and head of global occupier research at night frank, said, “Occupiers are separating from the old portfolio, but they are not leaving the place, they are moving towards better places and in many cases are going to more places to make their portfolio regional.”
The survey found that organizations are making a significant change in their location strategies. They are gathered in major properties, looking for work flexibility and designing the hub network instead of single headquarters.
Elliott added, “Global uncertainty and business change needs to speed up this activity rather than slowing down, as corporates know that they need to correct it to succeed in current macro environment.”
-IANS
SKT/
