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Multinational information technology companies are expanding their office and appointing more people to run them for this purpose they are in search of property across major cities of India. For the realty sector the quick flow of an investment has come as a blessing, which was suffering for the past two years from rising inventories and falling sales.
In the past few months almost a dozen big-ticket contract agreements has been signed by these companies. One of the IT Company occupied the office space in Hyderabad which is of 400,000 square feet. A few major IT/ITeS have not yet occupied or neither in a process of occupying a commercial space to place their expected headcount growth.
Executive Managing Director for South Asia told that with the constant rise in absorption after a trend of decrease in 2013 the commercial market is expected to stay attractive. As the price of occupying commercial space has become more attractive and rental has become low for commercial real estate.
One of the German based companies has selected their office space near to outer Ring Road, Bangalore, which is of 200,000 sq.ft. This is in addition to 400,000 sq.ft which is been constructing to enlarge its campus in Bangalore.
Commercial space of over 25 million sq.ft. year to date has been observed and absorbed by the country. More demand is from existing consumers with the IT/ITes financial organization leading the absorbed trend and over 7 million sq.ft is led by Bangalore says Deputy Managing Director of South Asia.
Companies issue 75-80 sq. ft. of space to each employee as a general rule of thumb. Few IT/ITes companies have purchased space recently.
Global software firms and IT services are facing two main challenges i.e. rapidly changing technology environment and heightened competition.
Companies are trying to improve their research & development power and decided to shift more high value research & development work to their Indian branches. In the current fiscal IT export market is set to grow by 12-14 percent.
One of the firm’s managing director said that Big Multinational companies have been silently increasing the headcount in India and getting more work offshore. Indian MNC’s are appointing 5,000 to 8,000 people every year.
But few companies are planning to expand their business in the same campus. By 2015, commercial realty sector absorption is expected to increase at a constant pace with 28 million sq.ft.
In the past few months almost a dozen big-ticket contract agreements has been signed by these companies. One of the IT Company occupied the office space in Hyderabad which is of 400,000 square feet. A few major IT/ITeS have not yet occupied or neither in a process of occupying a commercial space to place their expected headcount growth.
Executive Managing Director for South Asia told that with the constant rise in absorption after a trend of decrease in 2013 the commercial market is expected to stay attractive. As the price of occupying commercial space has become more attractive and rental has become low for commercial real estate.
One of the German based companies has selected their office space near to outer Ring Road, Bangalore, which is of 200,000 sq.ft. This is in addition to 400,000 sq.ft which is been constructing to enlarge its campus in Bangalore.
Commercial space of over 25 million sq.ft. year to date has been observed and absorbed by the country. More demand is from existing consumers with the IT/ITes financial organization leading the absorbed trend and over 7 million sq.ft is led by Bangalore says Deputy Managing Director of South Asia.
Companies issue 75-80 sq. ft. of space to each employee as a general rule of thumb. Few IT/ITes companies have purchased space recently.
Global software firms and IT services are facing two main challenges i.e. rapidly changing technology environment and heightened competition.
Companies are trying to improve their research & development power and decided to shift more high value research & development work to their Indian branches. In the current fiscal IT export market is set to grow by 12-14 percent.
One of the firm’s managing director said that Big Multinational companies have been silently increasing the headcount in India and getting more work offshore. Indian MNC’s are appointing 5,000 to 8,000 people every year.
But few companies are planning to expand their business in the same campus. By 2015, commercial realty sector absorption is expected to increase at a constant pace with 28 million sq.ft.
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