New Delhi: The real estate industry feels that the commercial segment of the industry will continue to gorw ata healthy pace in the first half of 2020. As many as 88 percent of the real estate stakeholders surveyed said that leasing activity will either improve or remain the same in the first half of the current calendar year.
In a survey jointly conducted by FICCI, NAREDCO and Knight Frank, around 95 percent of the respondents expect the supply to remain the same or even increase across geographies.
Around 91 percent of the real estate stakeholders expect the rentals to either remain the same or even appreciate in micro markets with high demand.
Leasing volume of commercial real estate clocked an all-time high figure of 5.6 million square meter in 2019. New completions of commercial properties also increased by 56 percent in 2019 to 61.3 million square feet.
“The stakeholder sentiments for office segment has been high due to strong performance and firm rental values allowing investors to make mid to long term investments with healthy rental incomes. Further, as we see, the revival of the Information Technology segment in India in the last few years has been creating strong demand for quality office space. India is now fast becoming a centre of high-end IT services and engineering with data centres, R&D centres and other important functions being based within the country,” said Shishir Baijal, Chairman and Managing Director, Knight Frank.