About 81% of new office supply across top 6 cities was green certified in 2022
Technology occupiers have been one of the driving forces of rising flex space demand across the top Indian cities and they currently occupy over 50% of the total flex space across Chennai, Delhi-NCR, Pune and Hyderabad as per industry experts.
Other major sectors that are actively embracing hybrid working through flex include Engineering & Manufacturing and BFSI, according to a latest Colliers’ report ‘Global Occupier Outlook 2023’.
In larger markets such as Mumbai and Bengaluru, demand by BFSI & Engineering occupiers for flex space is almost at par with Technology occupiers.
Demand from Technology occupiers will continue to remain strong in next two years led by a strong recovery and robust hiring plans as businesses continue to focus on rationalizing costs, the report said on 31 May 2023.
Across industries, occupiers are in the process of reassessing their current office footprint to assess, review & determine the most optimal mix for their employees.
Several organizations are looking forward to pivoting to some form of a hybrid model for the foreseeable future – blending remote work and physical presence in offices.
Despite the experience of working from home for more than two years, major occupiers believe that the physical presence of workers is critical at some regular interval.
Hybrid working model has brought flex spaces to the centre stage and has helped occupiers in optimizing costs and ensuring employee flexibility.
The hybrid working pattern has reset expectations of the future workplace and has opened new possibilities for how much flexibility employees can have in choosing, ‘where to work.’
Companies are now opting distributed workspace strategy to ensure easy commute for their employees, over having one large central headquarter. This has spurred demand for flex spaces across peripheral locations and non-metro cities.
Non metro cities such as Ahmedabad, Coimbatore, Indore, Jaipur, Kochi and Lucknow are witnessing heightened activity in flex spaces.
This trend is prominent amongst Technology, Consulting and E-commerce companies who are establishing multiple satellite offices in these locations.
While green buildings are not a new trend, they are garnering significant interest from occupiers as optimal energy usage and automated services remain key focus areas.
During 2022, about 81% of the new office supply across top 6 cities was green certified, said the report.
“Going forward, demand for green certified buildings will continue to rise as occupiers continue to chase green certified buildings to ensure that the workplace meets environmental, energy, and health standards in its design, construction, and performance,” the report said. Fiinews.com
