Bangalore Witnesses Rise in Office Space Absorption
Bangalore, the town that has been driving commercial space absorption within the country, witnessed the very best volume of office space leased in 2019. Led by rising occupancy levels in core office markets, including established business hubs and upcoming growth corridors, the demand for office space across the town remains robust. Having witnessed an office space absorption to the tune of 36 percent during Jan-Mar 2019, Outer bypass (ORR) dominated the leasing activity in 2019, followed by other peripheral office markets, primarily towards Bellary Road within the North (Source: Vestian). As apprised by Vishal Parwani, Owner, SSB Properties, Bangalore, “North Bangalore continues to be the well-liked region for buyers within the commercial segment. Companies like Apple, Shell, Amazon, and Boeing have over the years, expanded their operations and leased/purchased office spaces here. Soon Ikea is probably going to line up a unit in Tumkur Road. Manyata Tech Park near Hebbal, KIADB SEZ...