Delhi-NCR office leasing drops 60% to 1.5 mn sq ft in Q1
Delhi-NCR's office market experienced a significant slowdown in Q1, with gross leasing falling 28% to 3 million sq ft due to lower new supply. Despite this, the long-term outlook remains positive, with major developers actively investing in the region. Pan-India office leasing, however, saw a 10% rise, driven by foreign companies establishing Global Capability Centres.
Delhi-NCR's office market experienced a significant slowdown in Q1, with gross leasing falling 28% to 3 million sq ft due to lower new supply. Despite this, the long-term outlook remains positive, with major developers actively investing in the region. Pan-India office leasing, however, saw a 10% rise, driven by foreign companies establishing Global Capability Centres.
