Corporate Leasing

After a cautious first quarter, India's top six cities' office space absorption rose 2 percent to 14.6 million square feet in the second quarter of 2023, up from 14.3 msf in 2022.

The Executive Centre (TEC), a flexible workspace provider based in Hong Kong, has invested 100 crore in the first half of 2023 to lease approximately 200,000 square feet of space in eight centres.

Industry analysts say the delay in replacing the Special Economic Zones (SEZ) Act of 2005 with the Development (Enterprise and Services) Hubs Bill of 2022 is hurting major office park rentals since firms are unwilling to lease space in SEZ parks.

According to people familiar with the deal, Bajaj Electricals has leased a full floor of office space at One International Centre in Mumbai's Lower Parel business area from Blackstone Group unit Nucleus Office Parks for almost five years.

The Indian division of U.S.-based Cognizant Technology Solutions has renewed two lease agreements for over 627,500 square feet of office space in the Hinjewadi Rajiv Gandhi IT Park in Pune.

Roche's India subsidiary has leased more than 200,000 square feet of office space from Brookfield Properties' commercial complex in Pune's Baner neighbourhood, according to sources with firsthand knowledge of the transaction.

Amazon Development Centre India has renewed its lease for a Chennai office facility of approximately 50,000 square feet.

American Investment Company BNY Mellon Contemplating To Lease 1 Million SqFt in Kharadi, Pune

MQDC, a Thai Real Estate Development Company, Leases 45000 sqft in Gurugram to Establish a Coworking Space

As part of its India expansion plan, Deloitte Consulting India has leased approximatley 1,56,000 square feet of office space at the International Tech Park in Pune's Kharadi neighbourhood for 10 years.