Office demand to remain strong despite global uncertainties: DLF official

Economic Times
Economic Times
4w ago 29 views
India's office market is expected to grow due to its competitive advantage in affordable, English-speaking talent and quality workspaces. This matters as it positions India as an attractive base for global companies.
Office demand to remain strong despite global uncertainties: DLF official
A What happened
India's office market is set for sustained growth, even in the face of global uncertainties, according to DLF's Vice Chairman, Sriram Khattar. The country benefits from a competitive edge due to its availability of affordable, English-speaking talent and high-quality commercial workspaces. This combination makes India an attractive destination for international companies looking to establish a base. The demand for office and retail spaces remains strong, with the Indian office space stock exceeding one billion square feet, ranking it as the fourth largest globally. The post-COVID recovery has seen a significant increase in gross leasing across major cities. Additionally, policy reforms such as RERA and GST have positively impacted the sector, promoting transparency and growth. Khattar emphasized the need for further policy improvements to enhance development in the real estate industry.

Key insights

  • 1

    Strong Talent Pool

    India offers a competitive advantage with its affordable English-speaking workforce.

  • 2

    Post-COVID Recovery

    Leasing activity in India's office market has rebounded significantly after the pandemic.

  • 3

    Policy Support

    Reforms like RERA and GST are fostering transparency and growth in real estate.

Takeaways

India's office market is well-positioned for growth, supported by a strong talent pool, robust demand, and favorable policy reforms, making it an attractive option for global companies.

Topics

Real Estate Economy