Commercial Real Estate - Awaiting A Recovery: ICICI Securities

Laborers prepare reinforcing steel on a commercial building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Commercial Real Estate - Awaiting A Recovery: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Along expected lines, the Indian commercial real estate office market has seen a 32% YoY decline in H1 CY21 (January-June 2021) net absorption at 7.2 million square feet.

While green shoots were emerging in January-21 with a pick-up in leasing enquiries and large pre-leasing transactions, the second Covid-19 wave in India may lead to a delayed recovery for the office market.

We expect a leasing pickup towards the end of September 2021 driven by improved pace of vaccinations, select corporates recalling employees to offices while the current trend of occupiers downsizing and delaying new leasing decisions may continue in the near-term.

Click on the attachment to read the full report:

ICICI Securities Real Estate India Commercial Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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