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India: Subdued office space demand in Q1 2012

Posted on 17 April 2012

In the latest office market report from real estate consultancy Cushman and Wakefield, the first quarter of the 2012, noted absorption across top eight cities at 7.0 million sq.ft. registering a decline of 32% over last quarter and 6% over the same period last year. Mumbai, Kolkata, and Ahmedabad were the only markets showing a rise in absorption at 35%, 33.7% and 5.6% respectively.
In contrast to declining absorption levels there was a rise by 140% in pre-commitments compared to the previous quarter and by 41% compared to the same quarter last year………………………………………..Full Article: Source


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