The Indian office sector has witnessed sustained growth in demand in 2023 despite the global sluggishness and the performance is seen as a testament to the strong fundamentals of demand and the absence of any lasting effects of the global headwinds.
The net office space absorption in the country is seen at par with 2022 closing at 37-39 million sq ft. With leasing activity expected to further pick up pace in the last quarter of 2023, the year is expected to surpass the 2017-2019 average, showed a JLL India analysis.