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Domestic firms will <keyword id="6356112" type="General" weightage="100" keywordseo="lease" source="Orion">lease</keyword> an estimated 60-65 million square feet of <keyword id="181150" type="General" weightage="20" keywordseo="office-space" source="Orion">office space</keyword> between 2024 and 2025, according to <keyword id="20060150" type="General" weightage="20" keywordseo="cbre" source="keywords">CBRE</keyword> South Asia's report, '<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> Inc's Ascension - The Rise of Domestic Firms as an Office Demand Driver'. Domestic companies have been responsible for nearly 47 per cent of office leasing activity from 2022 to H1 2024, marking a departure from the traditional dominance of global corporations, particularly American firms. During 2022-2023, domestic firms experienced a 60 per cent surge in office space absorption compared to the pre-pandemic period of 2018-2019. Key occupier groups have secured significant spaces in prime locations across major cities, with <keyword id="19913115" type="General" weightage="20" keywordseo="delhi-ncr" source="keywords">Delhi-NCR</keyword> leading, followed by <keyword id="6354321" type="General" weightage="20" keywordseo="bengaluru" source="Orion">Bengaluru</keyword> and Mumbai. E-commerce and life sciences companies have driven occupancy in Bengaluru and Hyderabad, respectively, while Mumbai has captured a substantial 43 per cent share of domestic <keyword id="19910880" type="General" weightage="20" keywordseo="bfsi" source="keywords">BFSI</keyword> leasing, with strong contributions from Delhi-NCR and Chennai. The report attributes the robust growth of India's office market to several factors, including government initiatives like Make in India and the <keyword id="19952889" type="General" weightage="20" keywordseo="production-linked-incentive" source="keywords">Production Linked Incentive</keyword> (PLI) Scheme. These programs, along with increased domestic manufacturing, employment generation, and a well-capitalized banking sector, have created a supportive environment for business expansion. Other contributing factors include low corporate leverage ratios and improved access to capital, which have enhanced the investment capacity of Indian companies. India's talent pool, with approximately 2.5 million STEM graduates and a thriving start-up ecosystem featuring over 100 unicorns, has also been a major driver of growth. With over 38 sector skill councils, the government's focus on bridging the skill gap is preparing domestic firms for future demands, further bolstering the office leasing sector. Flexible space operators, technology, and BFSI sectors have emerged as the primary drivers of office leasing, collectively accounting for two-thirds of all domestic activity. The RCA sector, which includes legal, taxation, HR, and media services, is also playing a significant role in boosting domestic leasing. Additionally, Indian engineering and manufacturing firms, which currently represent 7-8 per cent of domestic office leasing, are expected to expand into <keyword id="20270212" type="General" weightage="20" keywordseo="tier-ii" source="keywords">Tier-II</keyword> and Tier-III cities, which are emerging as manufacturing hubs. Anshuman Magazine, Chairman and CEO, India, Southeast Asia, Middle East &amp; Africa, CBRE, said, "India's rapidly expanding start-up ecosystem and talent abundance are major drivers of this demand. As India's major urban centers continue to grow and diversify, the demand for premium office spaces will shape the future of the commercial real estate market, setting new standards for innovation and excellence. He added, "India's top nine cities are poised to see an impressive addition of ~185 million sq. ft. of premium office space by 2026. This dramatic increase in office space is a testament to several key factors driving the transformation of the commercial real estate landscape". Ram Chandnani, Managing Director, Advisory and Transaction Services, CBRE India, said, "Advances in technology, especially artificial intelligence (AI), are poised to further transform the office sector. While AI may cause job displacement in some areas, it will also create new opportunities and necessitate comprehensive workforce reskilling. The surge in workforce needs, driven by digitalization, evolving workplace strategies, and enhanced business confidence, has substantially boosted leasing activity."

Domestic firms to lease 60-65 million sq ft office space by 2025: CBRE report

New Delhi [India], June 13 (ANI): Mumbai and New Delhi are among cities in India that recorded a sharp annual increase in their <keyword id="6354553" type="General" weightage="100" keywordseo="real-estate" source="Orion">real estate</keyword> prices in the first quarter of 2024, according to a report by London-headquartered global property consultancy firm <keyword id="6363605" type="General" weightage="20" keywordseo="Knight-Frank" source="Orion">Knight Frank</keyword>. In case of Bengaluru, the average real estate prices witnessed a modest 4.8 per cent rise in prime residential or luxury homes during the January-March quarter of 2024. According to the report by the property consultant, titled '<keyword id="22041946" type="General" weightage="20" keywordseo="Prime-Global-Cities-Index-Q1-2024" source="Orion">Prime Global Cities Index Q1 2024</keyword>', Mumbai's significant rise on the international index was largely due to the rise in demand in the city. While the demand has been strong for all segments, there has been a rise in the sale of higher value products. Mumbai recorded the third highest year-on-year growth in prime residential prices in Q1-2024, pushing it up the ranking table by three places to 3rd position from its 6th position in Q1-2023. Delhi NCR rose from 17th rank in Q1-2023 to 5th in Q1-2024 with a growth of 10.5 per cent on a yearly basis. However, Bengaluru observed a slight decline in ranking from 16th place in Q1-2024 to 17th rank in Q1-2024, even while it recorded a 4.8 per cent yearly growth in residential prices. India's main cities, notably New Delhi and Mumbai, have witnessed a surge in house prices driven by robust economic growth, with annual GDP growth exceeding 8 per cent in the just concluded financial year 2023-24. Manila, the capital city of Philippines, claimed the top spot in the ranking with a 26.2 per cent annual rise in prices. The growth, as per the Knight Frank report, can be attributed to two key factors: purchasing power, and substantial infrastructure investments within and around the city. Tokyo in Japan jumped 17 places up with 12.5 per cent yearly price growth and ranked 2nd in the index. Despite Japan's overall population decline, Tokyo sustains a net population growth owing to migration from other regions within the country. Shishir Baijal, Chairman and Managing Director at Knight Frank India said, "The strong demand trend for residential properties has been a global phenomenon, led by gateway markets of Asia- Pacific and EMEA (Europe, Middle East, and Africa)." "Like its peers in these regions, the improved rankings of Mumbai and New Delhi on the Prime Global Cities Index was underscored by the resilience in sales growth volume. We expect the momentum of sales to remain stable over the next few quarters as the economic conditions are likely to remain broadly unchanged." The Prime Global Cities Index is a valuation-based index tracking the movement of prime residential prices across 44 cities worldwide. The index tracks nominal prices in local currency.

Mumbai, Delhi record real estate price appreciation in double digits; Ranked 3rd and 5th globally

New Delhi, Leasing of industrial &amp; warehousing space fell 12 per cent during the July-September period to 6.2 million square feet across five major cities on lower demand in Delhi-NCR and Bengaluru, according to Colliers India. The leasing of industrial and warehousing space stood at 7 million square feet in the year-ago period. During the January-September period, the demand fell 4 per cent to 17.2 million square feet from 18 million square feet in the corresponding period of the previous year. According to Colliers data, the leasing of industrial &amp; warehousing space in Chennai jumped more than 3-fold to 1.8 million square feet during the July-September period from 0.5 million square feet in the year-ago period. The demand rose 60 per cent to 3.5 million square feet during the January-September period over 2.2 million square feet in the corresponding period in the previous year. In Mumbai, the demand jumped over 2-fold to 1.2 million square feet in the third quarter from 0.5 million square feet in the year-ago period. During the first nine months of this year, the leasing rose 48 per cent to 3.9 million square feet from 2.7 million square feet. The leasing of industrial &amp; warehousing space in Pune increased 22 per cent to 1.6 million square feet during July-September from 1.3 million square feet in the year-ago period. Pune saw a marginal rise of 1 per cent to 4.1 million square feet in January-September from 4 million square feet in the corresponding period of the previous year. In Delhi-NCR, the demand fell 76 per cent to 0.9 million square feet during July-September from 3.8 million square feet a year ago. The leasing fell 46 per cent to 3.7 million square feet during January-September from 6.8 million square feet in the corresponding period of the previous year. The demand for industrial &amp; warehousing spaces in Bengaluru was down 21 per cent to 0.7 million square feet in July-September from 0.9 million square feet in the year-ago period. The leasing declined 10 per cent to 2 million square feet during the first nine months this year as against 2.3 million square feet in the corresponding period of the previous year. The consultant said third-party logistic (3PL) players continued to dominate demand during the January-September period at 40 per cent share followed by engineering players garnering 17 per cent. At the same time, leasing by FMCG jumped over two-fold as they expanded their presence in key markets such as Delhi-NCR and Pune. The rise in leasing levels for the FMCG sector largely pertains to the spurt in consumption levels over the last two quarters, which is likely to continue in the last quarter as well, led by the upcoming festive season, it added.

Industrial, warehousing space demand falls 12% in September quarter in 5 cities: Colliers

Energy tech startup <keyword id="12291737" type="General" weightage="80" keywordseo="exponent-energy" source="Orion">Exponent Energy</keyword> is aiming to power 25,000 electric vehicles by 2025 as it displayed its proprietary energy stack comprising battery pack, charging station and charging connector in Bengaluru on Monday. The company, in a statement, said it is looking to expand its operations to <keyword id="674224" type="General" weightage="50" keywordseo="delhi-ncr" source="Orion">Delhi NCR</keyword>, <keyword id="6358070" type="General" weightage="50" keywordseo="mumbai" source="Orion">Mumbai</keyword>, <keyword id="6354552" type="General" weightage="20" keywordseo="hyderabad" source="Orion">Hyderabad</keyword>, Chennai and <keyword id="5065" type="General" weightage="50" keywordseo="ahmedabad" source="Orion">Ahmedabad</keyword> by the end of this fiscal and is targeting to deploy 1,000 charging stations and 25,000 EVs powered by <keyword id="218039" type="General" weightage="100" keywordseo="exponent" source="Orion">Exponent</keyword>, by 2025. Exponent said its energy stack together unlocks a 15-minute rapid charge, and long battery life (3,000 cycle life warranty, 3 times the industry standard) - all done on regular LFP cells for the first time in the industry. Rapid charging kills range anxiety and the need for expensive, oversized battery packs, it said, adding that with this two-sided approach, EVs powered by exponent will be 30 per cent more affordable, which has been made possible by an optimised battery capacity (30 per cent smaller), and 5-year financing (powered by 3,000 cycle life warranty). Additionally, 15-minute rapid charging reduces EV charging cost by 33 per cent, the company claimed. Exponent's energy stack addresses two key problems that, for decades, prevented rapid charging on LFP cells - Lithium plating and extreme heat, it said. "We are building the future of energy that combines engineering with real world economics. For everyone to go electric, consumers need EVs that charge faster, last longer, and cost lesser," <keyword id="1358534" type="General" weightage="50" keywordseo="arun-vinayak" source="Orion">Arun Vinayak</keyword>, Co-founder and CEO of Exponent Energy, said. The company is ramping it up across India starting with <keyword id="157098" type="General" weightage="20" keywordseo="delhi-ncr" source="Orion">Delhi-NCR</keyword>, Mumbai, Hyderabad, Chennai and Ahmedabad, he added. The company said its 15-minute rapid charging also unlocks higher energy throughput enabling it to build a profitable and scalable EV charging network. SEE ALSO:<a href="https://www.businessinsider.in/entertainment/news/movies-and-tv-shows-releasing-in-august-2023/slidelist/102272332.cms" target="_blank"></a> <a href="https://www.businessinsider.in/entertainment/news/movies-and-tv-shows-releasing-in-august-2023/slidelist/102272332.cms" target="_blank">From Made in Heaven to Gadar 2 – Movies and OTT shows releasing in August</a><a href="https://www.businessinsider.in/tech/gadgets/news/honor-pad-x9-vs-realme-pad-2-which-tablet-should-you-buy/slidelist/102264679.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/gadgets/news/honor-pad-x9-vs-realme-pad-2-which-tablet-should-you-buy/slidelist/102264679.cms" target="_blank">Honor Pad X9 vs Realme Pad 2 – The new tabs under ₹20,000 to consider</a> <a href="https://www.businessinsider.in/business/news/hdfc-bank-and-swiggy-launch-co-branded-credit-card-to-offer-discount-to-customers/articleshow/102133212.cms">HDFC Bank and Swiggy launch co-branded credit card – cashback, offers and more</a>

Exponent Energy aims to power 25,000 electric vehicles by 2025

Bengaluru, Driven by a surge in travel, there has been a 50 per cent surge in hiring for tourism and hospitality jobs between December 2022 and 2023 in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>, according to a report on Wednesday. The report by Indeed, a global hiring and matching platform, also revealed that blue-collar hiring in the tourism and hospitality industry witnessed an overall 8 per cent increase. The rise not only signals a noteworthy post-pandemic recovery but also reflects a promising future for the industry while underscoring the job market's adaptability and resilience in the face of evolving global trends. The <keyword id="20223693" type="General" weightage="20" keywordseo="world-travel-and-tourism-council" source="keywords">World Travel and Tourism Council</keyword> (WTTC)'s Economic Impact Research predicted India to become the third most influential market in the Travel and Tourism industry globally. As per Indeed's data, hiring in the tourism industry peaked in October 2023 with a 61 per cent rise as compared to December 2022. This can be attributed to multiple reasons such as October being a popular time for tourism owing to weather changes propagating hill station visits, festive season and more. Top cities leading the upsurge in hiring include <keyword id="19906633" type="General" weightage="20" keywordseo="delhi-ncr" source="keywords">Delhi NCR</keyword> (23 per cent) Mumbai (5.19 per cent), Bengaluru (6.78 per cent). Overall, these cities take the lead in a variety of tourism-related industries by leveraging their distinct commercial, technological, and cultural advantages. Other cities, including <keyword id="19897309" type="General" weightage="20" keywordseo="pune" source="keywords">Pune</keyword> (2.33 per cent) and Kochi (2.41 per cent), also contributed significantly to the increase. "As we approach National Tourism Day, we must recognise the favorable employment outlook and honour the vibrant spirit of exploration, cross-cultural exchange, and economic advancement owing to the increased hiring prospects," said <keyword id="19979300" type="General" weightage="20" keywordseo="sashi-kumar" source="keywords">Sashi Kumar</keyword>, Head of Sales at Indeed, in a statement. "This rise across cities reflects their adaptability and the economic growth that the tourism sector brings to the workforce," he added. The hospitality and tourism industry has also noted a shift in the priorities of travellers in 2023 with factors like sustainability and hygiene coming to the forefront. Travellers are now more specific about their itineraries and aim for reduction of energy consumption during their travel, by embracing nature and enjoying local experiences. Automation has also entered certain areas where many are indulging in virtual reality tours and booking tickets via chatbots. The tourism sector is shaping as per these new patterns and job creation is taking place accordingly, the report said.

Travel surge drives 50% rise in hospitality jobs in India: Indeed

<keyword id="1390483" type="General" weightage="50" keywordseo="housing-sales" source="Orion">Housing sales</keyword> rose 36% year-on-year to a record 1,20,280 units across seven major cities during the July-September period on robust demand amid stable mortgage rate, according to Anarock. Housing sales stood at 88,230 units in the year-ago period across the seven major cities. Releasing the data, <keyword id="6354553" type="General" weightage="80" keywordseo="real-estate" source="Orion">real estate</keyword> consultant Anarock said average housing prices across the seven cities grew 11% annually in the July-September period this year. Hyderabad saw the highest rise of 18%. Anarock highlighted that quarterly sales in July-September touched an all-time high. In housing data, sales of apartments, villas and independent floors are included while plots are excluded. Anarock Chairman Anuj Puri highlighted that Mumbai Metropolitan Region (MMR) and Pune contributed 51% of the total sales. Puri noted that the continued healthy sales momentum is at least partially attributable to the repo rate pause maintained by the Reserve Bank of India in the two recent monetary policies. "This has kept home loan interest rates stable, keeping housing purchase sentiment high," he added. According to the data, housing sales in Delhi-NCR rose 6% to 15,865 units during July-September 2023 from 14,970 units in the year-ago period. In MMR, housing sales increased 46% to 38,500 units from 26,400 units during the period under review. Housing sales in Bengaluru went up 29% to 16,395 units during July-September this year from 12,690 units in the corresponding period of last year. In Pune, sales grew maximum by 63% to 22,885 units from 14,080 units. Sales of residential properties in Hyderabad increased 41% to 16,375 units from 11,650 units. In Chennai, housing sales rose 42% to 4,940 units from 3,490 units. Housing sales in Kolkata went up 7% to 5,320 units during July-September from 4,950 units in the year-ago period. "The ever-rising aspiration of owning a home mainly driven by rising income levels has meant a strong demand for housing over the last couple of years. The trend is expected to continue in the foreseeable future," Gurugram-based realty firm Krisumi Corporation Managing Director Mohit Jain said. The demand for luxury housing too is likely to remain strong amid the desire for upscale living experiences, he said. "Keeping pace with the demand for luxury homes, the supply is also expected to remain strong," Jain said.

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Domestic firms to lease 60-65 million sq ft office space by 2025: CBRE report

ANI

Mumbai, Delhi record real estate price appreciation in double digits; Ranked 3rd and 5th globally

ANI

Industrial, warehousing space demand falls 12% in September quarter in 5 cities: Colliers

PTI

Exponent Energy aims to power 25,000 electric vehicles by 2025

PTI

Travel surge drives 50% rise in hospitality jobs in India: Indeed

IANS

Housing sales up 36% in Jul-Sep in top 7 cities: Anarock

PTI

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