New Delhi, February 06, 2020: While the residential segment is struggling due to funding crisis& low sales, alternate commercial investment models like co-working spaces, office spaces, leased retail shops are gaining traction. Co-working spaces are in demand as tenant preferences are changing due to changing workforce demands, such as flexible location & workspaces.
As per Kinight Frank, The office market recorded its historic best year in terms of transaction volumes in 2019, recording 60.6 million square feet (msf), backed by a surge in leasing activity by the Information Technology segment. New completions surged by 56% in 2019 and was recorded at 61.3 msf, marginally surpassing demand. There is a large Commercial Supply lined up in 2020 with lot of Projects getting delivered, Noida, is soon getting a new Premium Mall being developed by MMR Group namely 52nd Avenue with Reputed brands already signed, a 9 Screen Multiplex in its 1st phase. A Hotel, offices, studio apartments to be delivered in the Second Phase all this in the Center Of Noida in Sector 52 right next to the Metro Junction.
The year 2019 also saw a lot of foreign brands enter India specially in the Hyper Store format which gave a boost to the Rentals and demand for Retail Spaces, complementing the demand for warehousing.
By Paras Satija.
Corporate Comm India (CCI Newswire)
