'Demand for office space to rise 15-20 pc YoY in 2022'

Demand for office space segment is expected to rise 15-20 per cent year-on-year in 2022 as there is a great appetite in this segment, global real-estate consultancy firm Colliers said on Monday. With more than 25 years presence, Colliers, a Nasdaq-listed company, is a professional consultancy firm which provides advice to real estate occupiers, owners and investors with operations in 67 countries.

Demand continues to be led by technology companies. However, we are seeing greater appetite for office space by startups. The year 2022 will be even better, even if the concerns of Covid-19 persist, said Ramesh Nair, CEO, India and Managing Director, Market Development, Asia, Colliers. In 2021, total leasing of office spaces in top cities of India rose 10 per cent higher year-on-year to about 33 million sq feet, the consultancy firm said.