ICICI Securities: Indian Commercial Real Estate - The Party Isn’t Over Yet

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. 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 (CRE) office market has seen a 49% YoY decline in H1 CY20 net absorption at 10.5 msqft. While the Covid-19 induced slowdown is expected to result in a 40-50% YoY contraction in demand and supply in CY20E, green shoots are gradually emerging. Developers in our coverage universe have reported over 90% office rental collection between March-June 2020 and have seen pickup in leasing enquiries from June 2020 onwards with few large pre-Covid deals also being honoured.Rents also continue to sustain at pre-Covid levels for large, institutional landlords. With a limited number of 8-10 large pan-India office developers capable of building quality assets, India continuing to have affordable rentals of under 1 USD/psf/month and an abundance of STEM talent, we remain bullish on office asset developers....Click on the attachment to read the full report:.DISCLAIMERThis 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 brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Securities: Indian Commercial Real Estate - The Party Isn’t Over Yet

ICICI Securities: Indian Commercial Real Estate - The Party Isn’t Over Yet

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