A recent research conducted by consulting firms in the realty sector have shown that the return of the IT sector and IT-enabled services and an overall positive perception about economic recovery has had a benign impact on the city’s commercial real estate sector, including the retail space. The survey adds that that in spite of the lift in demand for office and other commercial spaces, the lease rentals have remained stable, helping occupiers plan their acquisition better.
According to Jones Lang Le Salle Meghraj, leasing activity in the entire Asia-Pacific has gained momentum since the last quarter, as larger emerging markets such as India, China and Brazil are expected to recover from the downturn faster than the rest of the world. The comeback is, predictably, led by India’s IT sector, with many leading firms such as TCS wanting to hire people in large numbers.
Talking to TOI, Mohammed Aslam, head of Jones Lang Le Salle Meghraj in Pune, said, IT/ITeS sector has been a major occupier of office space in Pune. Over 80 per cent of office space absorption has been by IT, BPO and other knowledge-driven industries. About 10 million sq.ft. of commercial office space supply are under various stages of conception and construction, and are likely to be delivered over the next two years.
More : timesofindia.indiatimes.com
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