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Aggregate Office Leasing Rises Annually Across 7 Cities In June: Report

The top four cities with a cumulative share of 87 per cent in monthly leasing activity for June 2022 are Bengaluru, Chennai, Mumbai and Delhi-NCR

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Total office space leasing in June jumped nearly 1.5 times annually across seven cities to 5.8 million square feet, but it fell 5 per cent from previous month, according to JLL India.

Real estate consultant JLL India, in a statement, said that aggregate market leasing activity refers to lease transactions for all grades in the top seven cities (Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune and Kolkata), including confirmed pre-commitments and term renewals.

The top four cities with a cumulative share of 87 per cent in monthly leasing activity for June 2022 are Bengaluru, Chennai, Mumbai and Delhi-NCR.

Technology companies had a share of 35 per cent in the aggregate market leasing activity in June.

On monthly basis, Samantak Das, who is chief economist and head research and REIS, India at JLL, said there was a slight decline on monthly basis.

Das said the consultant will keep a close eye on this trend, "given the global headwinds that may impact market leasing activity as occupiers are likely to be cautiously optimistic about growth-oriented real estate space requirements".
 

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