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We found a whole load of happy news hiding inside this Bloomberg-Quint report - stuff that office space developers will love.
You Say?
Yes. ICICI Securities has expressed that it remains bullish on office asset developers.
The brokerage feels that improved pace of vaccinations and employees returning to offices will result in an uptick in net office absorption over the next three years.
Also, competitive rentals, in IT/ITeS-driven markets of south India and NCR/Pune, combined with a gradual rise in hiring could trigger demand for office space.
Why So Bullish?
Per analysts from ICICI Securities, who have termed 2022 as 'the year of office leasing recovery', there are 3 solid reasons.
📌 Though occupiers' return-to-office plans were pushed back by a quarter owing to Omicron, new enquiries have gained traction, and from April 2022 onwards, many enquiries could turn into leases.
📌 India's long-term advantage as a high-quality office hub remains intact.
📌 Quality talent pool, affordable rentals and high entry barriers will help established players in the sector.