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India: Demand for office space to increase to 30 mln sq ft this year: DTZ

Posted on 08 April 2013

The demand for office space is likely to increase to 30.5 million sq ft this year, global real estate advisor DTZ said. “Fears of downside risks for the global economy have started to fade, which combined with local economic policy amendments including the opening of 51 per cent FDI in multi- brand retail, climb-down of repo rates by the Reserve Bank of India (RBI) and stronger economic outlook, have resulted in improved market sentiment,” DTZ India CEO Anshul Jain said.
These emerging positive indicators are expected to help stimulate the real estate sector. “Consequently, demand for office space is expected to increase and reach to around 30.5 million sq ft this year, representing an increase of nearly 12 per cent year-on-year,” he said………………………………………..Full Article: Source


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