Bengaluru's Office Leasing Boom Sets New Records in 2024

Bengaluru experienced record growth in office leasing with a new high of nearly 220 lakh square feet in 2024. Despite a drop in new supply, demand remains strong, driven by industries like technology and BFSI. The trend underscores Bengaluru's status as a top choice for global companies.

Bengaluru, a critical player in India's office real estate sector, witnessed an unprecedented surge in office leasing activities in 2024, as reported by CBRE on Monday.

The city saw its gross leasing volume rise to an impressive 218 lakh square feet, a significant jump from the previous year's 155 lakh square feet, driven by strong demand from flexible space operators and various industries.

Though new office space supply dipped slightly to 140 lakh sq ft from 154 lakh sq ft last year, robust demand from sectors such as technology and BFSI signals continued growth for the city's office market, maintaining its reputation as a preferred destination for global businesses.

(With inputs from agencies.)