Tag: Bengaluru office absorption

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Q1 2026 Office Completions Drop 36% Amid West Asia Tensions

Representative Image NEW DELHI: According to a report by Vestian, India’s office space completions plunged 36% quarter-on-quarter, reaching 9.7 million sq ft in Q1 2026, the lowest in a year. The slowdown can be attributed to global uncertainties, including the West Asia conflict, causing developers to adopt a more cautious stance. Cities like Bengaluru, Hyderabad, and Mumbai were significantly affected, with Hyderabad’s completions dropping to just 0.3 million sq ft from 6 million sq ft in the previous quarter. Despite this reduction in supply, office demand remained strong, with absorption increasing by 20% year-on-year to 21.53 million sq ft, driven…

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India Office Leasing Up 10% to 21.6M Sq Ft in Q1 2026

NEW DELHI: India’s office market achieved a gross absorption of 21.6 million sq ft across six major cities in the January-March quarter of 2026, reflecting a 10% year-on-year increase, as reported by Savills India. This growth comes against a backdrop of global economic uncertainties. The quarter also saw a 28% year-on-year decline in new supply, totaling 7.9 million sq ft, which contributed to a decrease in overall vacancy rates to 13.9% amid consistent leasing activity. The robust beginning of the year positions the total office demand for 2026 at an estimated 75 million sq ft, while supply is anticipated to…