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Bangalore Office Market Q1 2012

Report

Reihe: BNPPRE City Report

Anbieter: BNP Paribas Real Estate (BNPPRE)

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  • Erscheinungsweise: Quartalsweise
  • Berichtszeitraum: 1. Quartal 2012
  • Erscheinungsdatum : 01.04.2012
  • Seiten : 13 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 1,51 MB
  • Sprache(n) : Englisch

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Inhalt

IT / ITES will continue to be a prime demand driver for Office space in Bangalore

Bangalore witnessed transaction volumes of 1.5 mn sq ft of which 48% was transacted in SBD, 51% was transacted in PBD and rest in CBD. These transactions were in form of preleasing, office relocations, consolidations and fresh leasing of spaces. Taking into consideration of the present tenant enquiries and supply pipeline, transaction volumes are expected to increase over the next three quarters of 2012. The demand for the office space in Bangalore will be primarily driven by BFSI and IT/ITES sector.

Vacancy levels for the CBD increased due to addition of fresh stock, this increase is expected to settle down to previous levels owing to the office space demand. Rental values are not expected to show sudden increase and are expected to grow at steady pace in CBD in the medium term.

With the strong construction pipeline of 10 mn sq ft in SBD we expect the vacancy levels to increase towards the mid of 2012. This may create pressure on the rental values over medium term and power of negotiation could incline towards occupiers. The vacancy levels which stand at near zero levels in SBD are expected to show northward trend.

PBD will continue to remain a preferred location for large space requirements owing to the low rental values in comparison to CBD and SBD. At present 2.7 mn sq ft of office space is under construction in the PBD of which 1.5 mn sq ft is under development in Whitefield and rest in Electronic City. The vacancy levels are expected to remain in the range of 20% and may decrease later this year.

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