Chennai Market Watch | Office Year-End 2023
Chennai witnessed a remarkable surge in office space demand, achieving a decade-high 9.6 mn sq. ft. in 2023. Notably, leasing activity gained momentum in the second half of the year, propelling the total demand to surpass the 2022 high of 7.3 mn sq. ft. by an impressive 31%.
Co-working spaces emerged as a driving force, constituting nearly 20% of the total commercial real estate absorption, an impressive leap from 12% in 2022.
Stay updated with more trends and developments from the city in our report, Chennai Market Watch: Office Year-End 2023.
