Pune registers maximum traction for large-size office spaces in 2022: Report

Pune registers maximum traction for large-size office spaces in 2022: Report

On a cumulative basis the demand for office space (all segments) has risen from 3.8 mn sq ft to 6.2 mn sq ft registering a growth of 61% YoY

Manasi Saraf JoshiUpdated: Saturday, March 18, 2023, 04:54 PM IST
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Pune: Knight Frank India, one of India’s leading property consultants, in its latest report noted that Pune has recorded an increase in the share of transactions of large-size office spaces above 1 lakh sq ft from 48% of overall transactions in CY21 to 53% in CY22. The city recorded maximum demand for large-size office spaces in H1 2022.

Transactions for small-sized offices measuring below 50,000 sq ft grew from 18% in CY21 to 20% in CY22. Whereas, transactions for office spaces from 50,000 to 1 lakh sq ft slight decline from 34% to 28% in CY22.

On a cumulative basis the demand for office space (all segments) has risen from 3.8 mn sq ft to 6.2 mn sq ft registering a growth of 61% YoY.

"IT and manufacturing companies were among the key occupiers"

Vilas P Menon, National Director, Occupier Services, Capital Markets & Branch Head, Pune said, “The city is home to a number of MNCs that account for bulk of the demand for large offices. Managed office spaces have also grown to be the preferred choice among office occupiers on account of the flexibility, cost, and spatial benefits. The IT and manufacturing companies were among the key occupiers. Co-working spaces also pushed up demand as companies look to offer hybrid work options to their workforce”.

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