Manufacturing mainly consists of e-commerce, life sciences and aerospace sectors.
Bengaluru witnessed total office space occupancy to the tune of 9.5 million square feet. “Of the total office space occupancy, about a year ago the share of manufacturing sector stood at 15 to 20 per cent. Dec 4, the share has gone up to be one-fourth (24 per cent) the transacted volume,” said Samantak Das, chief economist and director research, Knight Frank.
In the first-half of 2013, share of IT/ITES sector stood at 64 per cent. In the same period this year (2014) it is around 54 per cent.
“Since there has been a rapid growth in e-commerce, life sciences and aerospace sectors in the last couple of years, these companies are looking at scale. This has led to drastic change in the occupancy profile of the city,” said Das.
A similar trend is also seen in Mumbai market as well. In the last one-and-half years, share of manufacturing (non factory) has been going up significantly.
“Non-factory occupancy in Mumbai stood at 14 per cent in H1 2013, in H2 2013 it was 40 per cent. Now it is hovering around 45 per cent in H1 2014. The latest trend up to November has also shown an increasing trend,” Das said.
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