SEZ space accounts for 22% of office space across metro cities: Report
New Delhi : Office space in Special Economic Zones (SEZ) accounts for about 22 per cent of the total office space across seven major cities in India, a report of CBRE, well-known real estate consultancy firm, said on Monday.
On the supply front, more than 20 per cent of the upcoming office space supply lined up for completion over the next two years is expected to consist of SEZ developments, the report said.
"SEZ space currently accounts for about 22% of the total office stock in India across seven leading cities. Bangalore, Chennai, Delhi-NCR and Hyderabad house almost 80 per cent of this SEZ stock,"it said.
Overall, the technology sector dominated SEZ space take-up with over 60 per cent space absorption in the past three years, as per the report.
Mumbai, Kolkata and Pune are the other three cities covered under the survey.
Commenting on the findings, Anshuman Magazine, Chairman, India and South East Asia, CBRE, said: "We feel that the space take-up in SEZs should remain strong till the end of 2019. We also expect that at least till the end of 2019, there will be a continuity in several trends in the SEZ segment of the commercial real estate market with growing preference for SEZ spaces by corporate..."