The commercial real estate (CRE) sector has recovered from the blip of the previous two years and is once again considered. Office, retail, industrial, logistics, and hotel are all CRE areas that are currently performing well and generating more investor interest. The forecast for the industry also appears promising when a variety of criteria are taken into consideration, according to statistics compiled by several research groups.
The need for new office space was significantly impacted by the pandemic’s widespread adoption of working from home (WFH) practises and the long-term shutdown of offices.
According to a JLL India analysis, the amount of new office space across seven major Indian cities fell by 30% in 2020, from 51.62 million square feet to 36.34 million square feet. However, the recovery started last year, and it is predicted that demand for Grade-A office space will increase significantly in 2022, with Delhi-NCR accounting for the majority of this demand. In fact, according to Colliers, office gross absorption in the top six cities increased by almost three times during Q2 2022 compared to the same period the previous year, reaching 14.7 million square feet.