Tech, media sectors emerge major office space occupiers in Mumbai, Bengaluru: Colliers Research

Technology and media has emerged as a major office space occupiers in the Central Business Districts (CBD) of major Indian cities.

The TMT sector accounted for between about 19 per cent of Grade A office space in Mumbai and 48 per cent in Bengaluru at end-2018.

“The patterns of space occupation are changing with the technology, media and telecoms (TMT) occupying office space in the major Indian cities,” said Ritesh Sachdev, Senior Executive Director, Occupier Services at Colliers International India.

“We have seen that flexible workspace (referring to co-working and serviced offices) still represents only 4-5 per cent of aggregate occupancy of Grade A office space across Asia. However, the proportion would be higher if Grade B space were included, since flexible workspace has proven a valuable tool for improving Grade B office buildings in Hong Kong among other markets,” said Sachdev.